Axie Infinity is a blockchain-based play-to-earn game that exploded in popularity in developing nations such as the Philippines during the Covid-19 pandemic.
MANILA: Dominic Lumabi sits on the computer in his Manila bedroom pitting his puffer fish-like cartoon NFT characters against others. But this is not just a game — he is earning cryptocurrency to support his family during the pandemic.
The source of his income is Axie Infinity, a blockchain-based play-to-earn game that exploded in popularity in developing nations such as the Philippines as Covid-19 destroyed jobs and forced many to stay home.
Its fans, financial backers and creators — Vietnam-based Sky Mavis — say it is a revolutionary step towards the future of the internet.
Detractors warn the game is a “house of cards”, some…
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