Video game players have discovered a lucrative side hustle – earning cryptocurrency by signing up for play-to-earn games.
One of the most popular play-to-earn games is Axie Infinity, which allows players to accumulate tradable cryptocurrency coins. In fact, it’s become a financial lifeline for many gamers who have lost their jobs in countries such as the Philippines, Brazil and Venezuela.
Built on the Ethereum blockchain, which was founded by Vitalik Buterin, Axie has grown from about 30,000 players in April to a massive 1 million in August alone. But there is an upfront fee for players who have to invest in a team of three Axies at a cost of about $600.
And this is even before you get to try the game out to decide if you like it – or not. Which makes you wonder: is it worth the investment and how easy is it to earn cryptocurrency through the platform?
Host Felicity Glover is joined by Devesh Mamtani, chief market strategist at Century Financial in Dubai, who discusses the pros and cons of play-to-earn video games.
Hosted by Felicity Glover
Produced by Ayesha Khan and Arthur Eddyson
Pocketful of Dirhams will soon be moving into a monthly format – and will be released on the last Tuesday of each month starting from September 28.
Listen to last week’s episode on how to break the fear of investing:
Updated: September 21st 2021, 7:30 AM