COLLEGE OF BUSINESS HOSPITALITY MANAGEMENT

“ Benefits of Axie Infinity to players of San Pablo City Laguna”

In partial fulfillment of the requirements for the degree of

Bachelor of Science in Office Administration

Azucena Jr T.
Dipatuan Veronica
Laluon Jericho G.
Lunar Angelica F.
Moraleja Jamaica
Petil Alexander
BSOA-2C

Presented to

Mrs.Reeza Royo Suazo

 CHAPTER I.
INTRODUCTION

The era of cryptocurrency has begun! Cryptocurrency is a digital form of currency or

online money secured with cryptography (Frankenfield, 2022), making it so that counterfeiting
would be utterly impossible. Most trusted cryptocurrencies are decentralized, meaning any
government, bank, or entity does not control them. Also, most trusted cryptocurrencies are coded
to ensure that the users of the said cryptocurrency will remain anonymous. They exist on their
own and have value only because people believe in them, their technology, and what it stands for
as a tool for trade in the 21st century. Cryptocurrency is an alternative to state-regulated legal
tender (Frankenfield, 2022). All the transactions that take place on any given digital platform
where crypto exists reside in a block chain that can never be changed; this makes crypto more
transparent and trustworthy than most major currencies like the US dollar and euro. It is not like
any other form of currency that anyone has ever seen or used before, and it is something that
people can use right away without having to wait months, or even years, for your money to be in
a sort of bank account.

Block chain has emerged as one of the most valuable methods for adding value to
formerly illiquid assets in recent years. Users have been able to produce wealth in new ways by
adding virtual assets to the block chain. According to Pew Research, online gaming has also
grown immensely in recent years, with more than one-third of teens playing video games at least
once per week. Traditional gaming models centered on users paying for the game and purchasing
in-game points that provided value to the user. In recent years, that model has shifted, with
businesses like Epic Games gaining traction by offering a unique model that allows players to
download the game for free but pay for in-game products and/or subscription services.

This shift had a huge impact, as fortnite was able to onboard millions of users in just a few
months after debut by decreasing the barriers to entry by not forcing players to buy the game.
Despite the ‘free’ download fee, Epic Games saw significant revenue from Fortnite,
demonstrating the feasibility of alternate gaming methods. Despite the ‘free’ download fee, Epic
Games saw significant revenue from Fortnite, demonstrating the feasibility of alternate gaming
methods. While games like Fortnite have innovated the revenue model for companies like Epic
Games, block chain-based advancements are allowing the model to be completely altered.

BACKGROUND OF THE STUDY

The Axie Infinity isn't merely for entertainment. Sky Mavis' Axie Infinity allows players
to earn non-fungible tokens (NFTs) and cryptocurrencies by breeding, battling, and trading
digital creatures are Axies. As the Covid-19 hits the Philippines, people in San Pablo City
Laguna have found a unique way to ease the hardship brought on by lockdowns – playing video
games. Axie Infinity gets about 35% of its traffic and the majority of it is 2.5 million players are
from the Philippines, where excellent English proficiency, a strong gaming culture, and
extensive smartphone usage have driven its success, according to Sky Mavis.

Axie Infinity began as a standard online game in 2018, but acquired recognition in
November 2020 when the AXS token was added to the Axie ecosystem. The AXS token was
created with the objective of allowing players to be compensated in native AXS and SLP tokens
for winning battles and tournaments on their platform. Smooth Love Potions (SLP) is the utility
token, whereas Axie Infinity Shards (AXS) is the governance token for the Axie Infinity
platform. Instead of using native Ethereum, Axie leverages Ronin, an ethereum sidechain, to
enable for faster and cheaper smart contract interactions. It is a non-fungible token-based online
video game developed by Sky Mavis, noted for its in-game economy built on Ethereum-based
coins. Axie Infinity players collect and mint NFTs that symbolize the creatures known as Axies
(based on axolotls). Within the game, these monsters can be produced and pitted against one
another. Most Axie Infinity players are based in the Philippines as of September 2021. The game
employs a “pay-to-earn” paradigm (also known as “pay-to-pay-to-earn). Users of Axie Infinity
can cash out their tokens every fourteen days. This approach has been criticized as a type of
gambling, with an unstable market that is unduly reliant on fresh player intake.

The prohibited cost of entry in the Philippines led to the formation of a gaming guild that
rented out assets to allow new players to meet the minimum requirements. By June 2021, some
people in the Philippines had begun to treat the game as their primary source of income, though
earnings from Axie Infinity had fallen below the national minimum wage by September 2021.
The Philippine Department of Finance further stated that profits earned via Axie Infinity are
taxable and that the SEC and BSP may classify the cryptocurrency as a currency or a security.
Axie Infinity gamers use NFTs known as virtual land and other in-game items, in addition to
Axie-related gaming. On November 25, 2021, the most expensive block of land on Axie Infinity
sold for $2.3 million.

STATEMENT OF THE PROBLEM

The purpose of this research is to know the Benefits of Axie Infinity to the players of San Pablo
City Laguna. Therefore, it aims specifically to address the following questions.
1. Is it true that playing Axie Infinity financially benefits players?
2. What effect does Axie Infinity have on a player’s mental health?
3. How long do players spend each day playing Axie Infinity?
 SIGNIFICANCE OF THE STUDY

This research is made with the aim to provide information and knowledge regarding the
chosen topic. This study will be undertaken to find out the benefits of axie infinity to the players
of San Pablo City Laguna . Thus, the result of the study will benefit the following:

The Future Researcher

The ideas presented maybe used as reference data in conducting
researches. This study will also serve as their cross-reference that will give them a background or
an overview regarding the topic.

The Future Gamers

The result may enable done to assess and evaluate their own selves, if they
want to be an axie gamers. This is study will also help them to make decisions if they will invest
time or money to axie infinity.

THEORETICAL FRAMEWORK
Whether or now no longer the latest craze in cryptocurrencies has stuck your
attention, it’s already creating a actual distinction to the lives of Filipinos. Created
through Sky Mavis, a Vietnamese recreation studio, Axie Infinity is a virtual
puppy universe wherein gamers breed, battle, and change virtual creatures referred
to as Axies. The idea sits someplace among Pokémon and Tamagotchi, however
with a essential distinction: Axie Infinity is a decentralized software at the
Ethereum (ETH) blockchain wherein Axies are non-fungible tokens (NFTs) —
cryptographically unique, unreplaceable, and scarce. While nevertheless in early
access, Axie Infinity has already generated $4 million in revenue. Axie Infinity is
the primary blockchain recreation implemented as a cellular software, which
makes an attractive incentive for the common Filipino online. Filipinos spend a
mean of almost 11 hours an afternoon at the internet, making them the maximum
energetic customers withinside the world, even as 74% of the web Filipino
populace play video games on cellular. The maximum not unusual place manner
you could earn cash on Axie Infinity is through obtaining Small Love Potions
(SLPs) via every day quests, which may be offered in secondary markets like
Binance and Uniswap. As of writing, SLPs are buying and selling for round eleven
PHP. In a piece of writing posted through Coindesk remaining year, whilst SLPs
have been traded for two PHP, an Axie participant named Ijon Inton earned 10,000
PHP every week through farming SLPs for twenty hours an afternoon. More pro
and risk-taking gamers can change Axies withinside the marketplace, which
variety among 0.05 ETH (Php 9,000) to .90 ETH (Php 17,400).
Economic concept may be used to provide an explanation for the Axie
phenomenon higher than the more idiot concept, however it calls for information
of economics and of the Axie Infinity ecosystem. I’m going to restrict my
evaluation to the matters we already recognise approximately the sport and miss
capability destiny capabilities that can be delivered to the sport which include land
recreation play due to the fact we do not know any of the information of these
capabilities yet. You can suppose of those NFT as having fee for special reasons.
Another put up stated Axies having fee primarily based totally at the modern-day
meta, their genes, etc. that’s one manner to consider their fee. Another manner of
considering the fee of an Axie is because the discounted destiny cashflow that the
Axie can produce. Basically having a crew of Axies permits you to farm round a
150-200 SLP an afternoon so long as you’ve got got 1 – 3 hours to play the sport.
If you common farming a hundred and fifty SLP an afternoon for one year and the
fee of SLP is $0.25 (let’s expect it remains the equal fee over the path of the year)
than you’ll receive $13,687.50 on the cease of the year. There are many locations
with inside the global where $13,687.50 is a higher revenue than operating a
complete time activity in that country, or you figure a complete time activity plus
play Axie at the aspect for 1 – 3 hours an afternoon. So the query turns into what
may want to the capacity call for for Axie Infinity appearance like? We’ll
maximum human beings withinside the Philippines could advantage significantly
from gambling Axie because the common earnings is round $3,300/yr. The the
populace is ready 108 million withinside the Philippines. We may also make the
identical argument approximately numerous different international locations
inclusive of Venezuela, Argentina, etc. So as a idea test we’re searching at an
insane quantity of call for due to the fact human beings could be economically
higher off if they could get a group or scholarship and play the game. Let’s study
the deliver aspect of the Axie equation. Each participant is in all likelihood to
advantage round 150 – 200 SLP an afternoon gambling. There’s probable round
500k gamers proper now. I’m basing this off of some thing I study pronouncing
Axie had approximately 350k gamers some weeks in the past and that there are
presently simply over 3M Axies withinside the game (that places in a difficult cap
of 1M gamers because you want three for a group). So every day a hard and fast
quantity of SLP can come into the game. If we anticipate a hundred seventy five
SLP in line with participant and 500k gamers then 87.5M SLP is generated in line
with day. Because SLP is wanted to reproduce Axies this boundaries the quantity
of Axies that may be created every day (or every five day breeding cycle). We can
sincerely study what number of eggs are withinside the system of being breed via
way of means of going to the market and filtering for Eggs and All. Currently,
there are 318,114 eggs which are someplace of their five day hatching cycling.
Let’s simply anticipate a uniform distribution of eggs throughout the five day
hatching cycle which could suggest simply beneathneath 64,000 Axies are created
an afternoon. Since you want three Axies for a group simply over 21,000 new
groups may be created every day.
We have a almost limitless call for for axies due to capability profits and a
limited constant deliver of axies getting into the sport every day. People with
scholarship applications will preserve to reproduce due to the fact their returns on
every scholarship over the route of a 12 month length are excessive and those will
maintain searching out scholarships due to the fact they’ll advantage economically
from gambling the sport. Crypto makes a play-to-earn enterprise version feasible
via the usage of NFTs and crypto tokens. There can be a employer that receives the
enterprise version accurate and turns into a large recreation just like the likes of
Call of Duty, Fortnite, etc. There can be many agencies that try and get the
enterprise version proper and fail. So a long way Axie Infinity appears the nearest
to getting the enterprise version accurate and that is why they’ve skilled first rate
growth. Are there dangers concerned with making an investment in Axie Infinity?
Absolutely yes. If the charge of SLP is going so low that it is now no longer really
well worth it to play the sport in impoverished international locations that might
destroy havoc at the Axie financial system. Is that feasible? Yes. Is it likely? I
might say it’d have a completely low chance of occurring. Sky Mavis additionally
has multiple dials that they are able to tweak to stabilize the financial system and
we’ve got visible them do that before. They multiplied the wide variety of SLP had
to breed axies quickly after the Ronin aspect chain became implemented. This
multiplied the call for for SLP. They additionally modified the wide variety of
AXS tokens had to breed from 1 to two after which 2 to 4. This multiplied the call
for for AXS. These are brief matters that the builders can tweak. There are greater
speculative matters that might multiplied call for for SLP or AXS. Land recreation
play has been announced, however no person truly is aware of what it’ll contain or
while it’ll be released.

SCOPE AND LIMITATIONS OF THE STUDY

This study focuses on the benefits of Axie Infinity to the players of San Pablo City
Laguna. The data collection will be conducted to 100 male and female axie infinity players in
San Pablo City Laguna with the age of 18 to 30 above who will represent the population. Each
of the respondents is given the same questionnaire to answer. The main source of data will be
google form questionnaire, which prepared by researchers.

DEFINITION OF TERMS

Pay-to-earn - Is a gaming business model that relies on block chain technology.

Axie Infinity - is an non-fungible token-based online video game developed by
Vietnamese studio Sky Mavis, known for its in-game economy which uses Ethereum-
based
cryptocurrencies.
Cryptocurrency also called crypto-currency or crypto, is any form of currency that
exists
digitally or virtually and uses cryptography to secure transactions.
Non-fungible token (NFT). Is a non-interchangeable unit of data stored on a block
chain
a form of digital ledger, that can be sold
and traded. Types of NFT data units may be associated with digital files such as photos,
videos, and audio.
Smooth Love Potion (SLP) Is an ERC-20 gaming token in the popular NFT game Axie
Infinity. It has an unlimited supply and is the
primary source of income for Axie Infinity gamers.
Axie Infinity scholarship Let players, or scholars, who wish to play the game but do not
possess adequate financial resources.
 Computer and Cellphone Each gaming device offers a variety of opportunities for game
play. Different games, sometimes with
different ratings for the same game, are offered on various brands and platforms.
Benefits An advantage or profit gained from something that produces good or helpful
results or effects.
Player A person who plays a game
Address the particular place where the respondents live.
Pandemic. An occurrence in which a disease spreads very quickly and affects a large
number of people and even businesses.

CHAPTER II.
REVIEW OF RELATED LITERATURE
Local Literature
COVID-19 epidemic has added an unwelcome chapter to every life this year. Many businesses
have gone out of business, the stock market has fallen, many individuals have lost their jobs, and
there has been a plethora
396 The Experiences and Challenges Faced By Axie Infinity Online Gamers Shealtielle Blaise
De Jesus et al. of additional “bad news” along the way. To survive this pandemic, it is necessary
to have a source of income. Axie Infinity’s Play-to-Earn strategies have proven to be incredibly
popular among Filipino players in this area. The lowest Axie now costs 0.05 Ethereum ($26 at
the time of writing). Not all low-cost Axies, however, are capable fighters. By comparing the
Axies’ stats and cards, the best team synergy may be reached. The requirement to buy three (3)
Axies turns off a lot of folks. Fortunately, scholarships are available to help you get started in the
game without having to spend any money on Axies. When someone is accepted into a program,
they may be eligible for a range of benefits, such as mentorship, profit sharing, and other
opportunities (depending on the terms you agreed on). Despite this, Filipino gamers enjoy the
game, and many have earned far more than the minimum wage. It’s also incredible to realize that
some folks saw this as a way to put food on the table. Ian Inanoria (2020), the journalist and
interviewer, contacted two Axie players who were making more than minimum pay. Ian first
inquired about Kael’s beginnings as a player. Before the pandemic, Kael had a simple food store
in San Francisco Village, Muzon, Taytay, Rizal. Due to the spreading virus, he had to shut it
down and lose three months’ worth of revenues, leaving him with ameager budget. He wasn’t
going to sit around doing nothing; he was on a mission to discover a way to make money. Kael
came across a post about Axie Infinity on Facebook. Despite having no prior knowledge of
cryptocurrencies or blockchain, he gave it a go by purchasing Php3.5k worth of Axies ($73 as of
writing) on the official marketplace. Within a few weeks, he was able to retrieve his money, pay
his bills, and buy food for his family. By selling his SLP and breeding Axies while playing the
game, he was able to acquire new friends and maximize his earnings. Ian also spoke with John, a
player from Cabanatuan City, Nueva Ecija. He recently earned a bachelor’s degree in business
administration. He was unable to find a job as a result of the outbreak and was obliged to stay at
home. During a conversation with his cousin, he learned about the game and decided to put
money aside to get Axies. As the days passed, John realized that putting together a good team
would take some time, so he enrolled in a Kookoo scholarship program. Since he began
performing in the first week of October, he has been able to financially support his family,
which is especially important given his mother’s recent delivery. Ian’s interest in these
scholarship prospects was stirred by John’s story. Ian met with Kookoo, an Axie Angel now
located in Cebu and in charge of a small team of academics. On August 29, he started playing
and began supporting other members of the community, earning him the moniker Axie Angel.
Kookoo is currently guiding five personal scholars and has recruited eight new members for the
YGG guild (Yield Guild Games). Because he is an Axie Angel at heart, he launched a YouTube
channel. The main motivation for generating instructional DVDs was to save him and new
gamers time. Because there was little to no information using the Filipino language to educate
the mechanics before Kookoo, the films were favorably accepted by the local community. As a
result of the community’s response, he will be creating more content on crypto and blockchain in
general, in order to raise awareness about future scamming attempts and provide education in
general. Apart from generating real income for players, play-to-earn games also create
communities where gamers and creators can meet, share wisdom, and do deals with one another.
A good example of this is The Sandbox, a game in the same genre as Minecraft where players
build things and exchange them with one another as NFTs. Now that games like these are
possible, it seems likely that they are here to stay. Many games have sustained online
communities in the past, but by adding the ability to make financial gains, play-to-earn games
will potentially lead to even more successful communities in future. If this corner of gaming is
new to you, it’s time to start watching closely. (Cattanach, 2021) Now that Axie is popular the
players found a new community. Many Axie players see Axie as a fun game and a social
community to meet friends. More than 50% of Axie players prefer the gameplay and community
to the economic aspect. These players value the fun and relationships that they make through
Axie much higher than any potential earnings; these players make the economy stronger in the
long run (Axie Infinity). At the moment, there are many more [people that want to play] around
the world than there are in assets to go around,” said Leah Callon-Butler, a director of the
consulting group Emfarsis, which has produced market analysis for the Axie Infinity
community in the Philippines. Secretary echoed. “Everyone I know is trying to play,” he said
(Elliott, 2021)
Right now is they may have to start paying tax to the government. Players of the popular online
game Axie Infinity who sell “pets” and earn money in the real world must pay income taxes due
from such transactions, the Department of Finance (DOF) said “Whoever earns currency from
it, it is income you should report it,” Finance Undersecretary Antoinette Tionko told
reporters last week. Amid the prolonged COVID-19 quarantine, CNBC in May reported
thousands of Filipinos getting addicted to play-to-earn games like Axie Infinity, where players
earn cryptocurrency and non-fungible tokens (NTFs) by growing fantasy creatures called
“Axies”. While players cannot yet monetize the NTFs they gain in the game itself, trading pet
axies online generates thousands of pesos when sold. Regardless of whether Axies are paid by
money or in kind, Tionko said these transactions were taxable (De versa 2021). Tionko said even
the cryptocurrency earned in Axie Infinity were taxable, although the government has yet to put
in place a mechanism to determine the amount and actually collect tax from these digital assets.
“Cryptocurrency is an asset, so it’s already taxable in the Philippines. What kind of tax applies?
Certainly, the gains are subject to income tax,” said Tionko. Online gamers earning an income
are not exempted from paying taxes, the Bureau of Internal Revenue warned on Tuesday. The
agency said those who earn from playing the popular online play-to-earn game Axie Infinity are
subject to tax requirements (CNN Philippines, 2021). According to BIR players are earning, they
are given benefits or currency that they can trade, convert and use as cash. At the end of the day,
there’s a flow of income to players. So this income can be taxable.] The official said players who
have annual net earnings of P250,000 or less are exempted from paying taxes. The BIR urged
eligible gamers to register and pay their taxes, adding that failure to do so may lead to
imprisonment and fines (CNN Philippines, 2021). On the other hand this Taxation is not already
implemented Nobody really knows what the new tax will mean for Axie Infinity gamers a tax
seems justified wherever any income is being made. On the other hand, regulators don’t really
know ‘what’ to tax — does one tax the actual NFTs or the in-game crypto tokens? (Gill, 2021).
According to Stefanie Yeo (2021), there are issues that Axie Infinity needs to address to avoid
game over. Over the last week, Stefanie, who works from Tech-Asia spilled a lot of digital ink
talking about Axie Infinity. The blockchain-based, play-to-earn game has not only taken
popularity in the last year, but it has also turned into a source of income for many gamers,
particularly those whose livelihoods have been impacted by the Covid-19 outbreak. It’s also been
questioned, with some claiming that the game is a Ponzi scam. While not all of the critiques
mentioned to Axie Infinity are true, the game does have significant issues that its makers must
address.

FOREIGN LITERATURE
Every gamer, at some point, encounters a situation that makes gaming appear more like a
stressor than a de-stressor. These are the most problems that every gamers has faced: Gaming has
melded with the internet world throughout time. As a result, players have been able to play
multiplayer games online and have progressed to multiplayer professional games. Because of the
toxicity and other horrible things that occur when playing games
The Experiences and Challenges Faced By Axie Infinity Online Gamers Shealtielle Blaise
with strangers online, gaming is no longer enjoyable. Parents just did not appreciate how critical
it was to reach that one stage or complete the level you had been working on for days. Nothing is
more frustrating than having to restart a game after you’ve worked extremely hard to reach a
specific stage. If you failed, you’d have to restart all over again. It’s devastating to lose all of
your progress. When you have to manage your career, education, home, and even rest, when is
the best time to play? If you’re a dedicated player, this can be a huge concern. It feels more like
you’re making an “appointment” when you pencil time into your schedule. When playing games
on the PC, freezing or game hanging is a typical occurrence. It’s aggravating when your screen
becomes stuck or freezes for several seconds, interfering with your game. Many gamers become
frustrated when a frozen screen remains stuck for an extended period of time. Of course, all of
your unsaved progress is gone after all of your hard work. If you play online games, you’re
familiar with the agony of lag. Lag may be quite bothersome, especially when playing online
matchmaking games. While playing, a decent internet connection and speed are required for the
greatest experience. It can make any online match almost useless, from people teleporting and
running in place to your bullets not hitting the adversary. To make matters worse, you appear to
everyone else as a lousy player, which means you’ll be less likely to be depended on in team
efforts and will be pushed to the side (Hawks, 2017).
Axie Infinity is not just a “game” but a play-to-earn game that involves a lot of money and
investment. Axie Infinity Shards (AXS) and Smooth Love Potion (SLP), both Ethereum-based
crypto tokens, are used. This game, which was released in 2018, grossed USD 42 million in June
2021, making it one of the most high – cost NFT collections on the market. Bonheur (2021)
reported that several players have benefited immensely from this game. These vary from a player
who was able to provide for his family’s basic necessities throughout the outbreak to another
who was able to purchase a home and a permanent settlement. Even though there are many
benefits in playing Axie Infinity and earning money through trades of cryptocurrencies, there are
still limitations and issues. One of the challenges that Axie Infinity players in the Philippines are
facing
The Lived Experiences of the Axie Infinity Online Gamers
Axie Infinity is one of the most popular—and divisive—of these new games that allow
players to collect transferable crypto currencies. Players lead colorful, blob-like creatures known
as Axies to collect two types of currency in Axie Infinity’s virtual environment of Lunacia.
Smooth Love Potions (SLP) are granted for winning battles and may be paid in or used to breed
more Axies in the game. Seasonal tournaments and selling Axies throughout the game’s
marketplace can earn you Axie Infinity Shards (AXS). AXS may also be redeemed out, although
they’re supposed to work as shares, much like other governance tokens. According to Bonheur
(2021), several players have earned sufficient capital as a result of their participation in this
game. Numerous success stories have been featured in the media in different rural areas of the
Philippines, for example. These range from a player who was able to provide for his family’s
basic necessities during the epidemic to another who was able to purchase a house and property
(Servando et. Al. 2021). These works of visual art inspired by blockchain pay respect to the
mental health rollercoaster that many people experienced as a result of highly centralized finance
during the coronavirus outbreak and subsequent cryptocurrency bull run. Matt Dazinco (2021)
shared his experience from the crypto effect. “I know I’m not alone in seeing these ghost charts
since I’ve talked to a lot of other investors who have been hooked to their screens over the last
year. So, when we take a break from our computers, why do some of us notice crypto in the real
world? What are these faint, floating lines and numbers, and why are they bothering us?”
Dazinco said. He also shared, “When you haven’t slept in days and a pandemic is snatching up
pals just beyond your front door, worry and exhilaration seem the same. When I think about all
the people I trusted online who chanted the crypto song, “We’re all going to make it,” I still feel
a crippling feeling of ignorance. By late May, I’d run out of reasons, had an empty wallet to
contemplate, and had developed a new burning passion that was causing minimal
hallucinations.” According to Dazinco (2021), The entire value of cryptocurrencies soared
from around $242 billion to almost $2.43 trillion during the height of the outbreak. Only a few
days later, the market plummeted by $1.3 trillion. Indeed, that is a substantial sum of money. But
it was the amount of actual individuals behind those stats that concerned me the most – families
and bank accounts shattered by market volatility. Cryptocurrency addictions are growing so
widespread that a business sector is springing up to cater to them. According to Dylan Kerr, a
private clinical addiction counselor, “crypto trading is quite comparable to day trading or
gambling.” A cognitive pattern could be a multidimensional, energetic development that
incorporates a person’s qualities, values, verbose and semantic recollections, and coordinates the
preparation of self-relevant data (Greenwald & Pratkanis, 1984; Kihlstrom et al. 1988). A
person’s self-concept is made up of a few distinctive self-schemas and answers to the address
“Who am I?” (Myers, 2009). Individuals have a clear understanding of who they are and what
they are, agreeing with Campbell et al. (1996), who characterized self-concept clarity as the sum
to which the substance of the self are clearly and unquestionably expressed, steady, and
transiently stable. Gamers can utilize video diversions to hunt for and clarify their possess
self-concept. Matsuba (2006) found that web utilization is conversely related with self-concept
clarity, suggesting that the web may be an important device for investigating and finding oneself.
Gamers come in a variety of shapes and sizes. In actuality, their playstyles, abilities, and
preferences shift. Despite the fact that they are distinguished by class, they share several
similarities. A skilled gamer requires the proper gaming equipment and accessories. The truth is
that without gaming knowledge, it is difficult to be a great gamer. Even if a few people are
intellectual in other areas, this does not necessarily imply that they are intelligent in gaming.
Dedication and commitment are two more attributes that successful gamers possess. That’s
because they recognize the importance of continuing to hone and improve their skills. As a
result, it becomes a part of their lives, and it may be a critical necessity for them. When a player
has some spare time, he or she will use it to memorize various perspectives on the game. When
it comes to trying out new tactics, all players need is a little creativity. Furthermore, creativity
allows you to look at several recreations and come up with something far superior. A great
player, for example, can come up with new variations, adjustments, and approaches to the game.
Proficient gamers don’t jump to conclusions or make assumptions quickly. Or perhaps they are
excellent at deciphering problems and can then work to overcome obstacles in their path to
success. As you may be aware, gaming can be difficult, and difficult levels can be difficult to
overcome. If you want to be successful, you need 394 The Experiences and Challenges Faced
By Axie Infinity Online Gamers Shealtielle Blaise De Jesus et al. to be able to manage
emotions and use logic to get through difficult situations. They always believe there is a way out,
and they don't give up trying. The aforementioned features or characteristics of a successful
gamer should persuade and rouse you to work hard and improve your gaming abilities.
How Axie Infinity is turning gaming on its head by Casey Newton Axie is interesting because
it’s using cryptocurrency to stand up a new kind of video game, one in which you can earn
meaningful income just by playing. The game is surrounded by a community that holds a
financial stake in Axie via the game’s two currencies, which they can use to influence its
development. In short, it’s a social network where all the participants are buying and selling
goods with real money. We have a word for that, one that we would almost never apply to a
web-based social network: an economy. And if Axie continues to grow at its current rate, that’s
poised to have some fascinating implications. According to Stefanie Yeo (2021), there are issues
that Axie Infinity needs to address to avoid game over. Over the last week, Stefanie, who works
from Tech-Asia spilled a lot of digital ink talking about Axie Infinity. The blockchain-based,
play-to-earn game has not only taken popularity in the last year, but it has also turned into a
source of income for many gamers, particularly those whose livelihoods have been impacted by
the Covid-19 outbreak. It’s also been questioned, with some claiming that the game is a Ponzi
scam. While not all of the critiques mentioned to Axie Infinity are true, the game does have
significant issues that its makers must address. A lot has been said about Axie Infinity, some of it
not so kind. However, if Sky Mavis, the game’s Vietnamese creator, wants to be in the game for
the long run, it must fix some serious issues. Axie .Gamers come in a variety of shapes and
sizes. In actuality, their playstyles, abilities, and preferences shift. Despite the fact that they are
distinguished by class, they share several similarities. A skilled gamer requires the proper
gaming equipment and accessories. The truth is that without gaming knowledge, it is difficult to
be a great gamer. Even if a few people are intellectual in other areas, this does not necessarily
imply that they are intelligent in gaming. Dedication and commitment are two more attributes
that successful gamers possess. That’s because they recognize the importance of continuing to
hone and improve their skills. As a result, it becomes a part of their lives, and it may be a critical
necessity for them. When a player has some spare time, he or she will use it to memorize various
perspectives on the game. When it comes to trying out new tactics, all players need is a little
creativity. Furthermore, creativity allows you to look at several recreations and come up with
something far superior. A great player, for example, can come up with new variations,
adjustments, and approaches to the game. Proficient gamers don’t jump to conclusions or make
assumptions quickly. Or perhaps they are excellent at deciphering problems and can then work to
overcome obstacles in their path to success. As you may be aware, gaming can be difficult, and
difficult levels can be difficult to overcome.

Foreign Studies
Over numerous years, cryptocurrency has been a famous subject matter of interest. One
of the maximums in-call for and divisive of those new video games that permit gamers to gather
tradable crypto currencies is the Axie Infinity. Nonemployees, at the side of the students, are
locating it tough to locate solid employment due to the fact this pandemic added many setbacks
to hired and greater specifically to unemployed students. The quantity of day-by-day active
customers on Axie Infinity improved from 30,000 in April to over 1 million in August, with the
bulk of customers coming from impoverished nations struck difficult with the aid of using
COVID, which include the Philippines, Brazil, and Venezuela (Servando et. Al., 2021).
According to World Financial Review (2020), one of the key motives why the cryptocurrency is
so esteemed during the arena is due to the fact there’s income ability and that they are not
associated with international governments, because of this those crypto currencies can stay
constant even if a rustic is in crisis.
Nowadays, increasingly more humans are beginning to discover cryptocurrencies
inclusive of Axie Infinity. Based at the records amassed from Heffernan (2021), buying and
selling markets are one of the maximum demanding settings, which has attracted a growing
variety of latest graduates to the industry, and because the crypto boom, it has even piqued the
hobby of the more youthful generation. People as younger as twenty years vintage are organized
to take out loans to play and compete with the tycoons. Both buying and selling and making an
investment though can also additionally emerge as troublesome. Cryptocurrency addiction,
consistent with modern-day studies and inferences is taken from different compulsive playing
activities, can cause intellectual fitness signs inclusive of stress, anxiety, sadness, and mania
(Sternlicht et al., 2018).
According to Co-Founder Aleksander Leonard (2021), it’s miles surely tough
gambling Axie at this time of pandemic. It is grueling for them given that they’re now no longer
used to gambling play-to-earn games. Residents in Cabanatuan City, north of Manila, devised a
innovative manner to address the trials of the lockdowns through making an investment and
gambling Axie Infinity as the COVID-19 pandemic multiplied throughout the Philippines. In a
brand new mini-documentary called “Play-to-Earn,” launched on YouTube on Thursday through
crypto consulting corporation and gaming organization Yield Guild Games, a mother, 3 younger
entrepreneurs, a latest university graduate, a pedicab driver, an aged married couple, and one in
all the first human beings in Cabanatuan City to find out Axie Infinity are featured (Nunley &
Christian, 2021). There’s no doubting Axie Infinity’s expansion, specifically amid the worldwide
COVID-19 pandemic. It has accrued game enthusiasts from all over the international and
currently surpassed 2 million every day lively users. The quantity of Axie Infinity stands apart as
it isn’t always but to be had withinside the Google or Apple app stores. While the virtual sport
has no bounds, it has taken root withinside the Philippines, which has been mainly tough hit
through the pandemic. Player Counter (2021) states that the top 1 country in phrases of lively
every day participation is the Philippines, with 40.53%. Venezuela got here in 2 nd location with
6.31%. Top 3, the USA with 5.72%. Thailand is available in fourth location, with 4.73%. Brazil
is available in 5th location with 3.29%. More than ½ of Axie Infinity’s gamers are from the
Philippines, and that they take part in a community-created software regarded as “scholarships.”
Currently, gambling Axie Infinity earns a better hourly fee than the minimal salary in Portugal,
Turkey, and maximum Asian, South American, and African countries. In the remaining 24 hours,
the fee of the in-sport Small Love Potion tokens has climbed through some other two hundred
percent, permitting gamers to earn at least $five each hour (Hoogendoorn, 2020).
Simultaneously, on line video games have grown immensely famous a number of the more
youthful generation. Using gaming systems to earn cash through streaming and tough different
gamers. Even while gamers are frantically attempting to relax, many gamers nevertheless
discover video games to be anxiety-inducing. Anxiety may also have quite a few results on a
person’s life. According to Williams (2021), a licensed psychologist and writer of the Ultimate
Anxiety Toolkit, it is available in several forms, however regularly includes recurrent unsightly
mind which might be tough to ease. Repetitive wondering cycles, especially regarding matters
we cannot end withinside the game, may make a contribution to game anxiety (Mosly & Robin,
2021). Since Axie Infinity is a play-to-earn platform, Axie Infinity Co-Founder Aleksander
Leonard (2021), claims that 1 million day by day lively customers of the NFT-primarily based
totally online game had by no means used a crypto software earlier than and admits that the
game’s getting to know curve may be very tough for crypto newcomers. Larsen discovered that
Axie Infinity has more or less million day by day lively customers, 50 percentage of whom have
by no means used any crypto application earlier than, at some stage in a panel dialogue
concerning the metaverse at Token2049 (Graves & Stephen, 2021).

Local Studies

Axie Infinity is one of the maximum popular—and divisive—of those new video games
that permit gamers to accumulate transferable crypto currencies. Players led colorful, blob-like
creatures called Axies to accumulate sorts of forex in Axie Infinity’s digital surroundings.
Smooth Love Potions (SLP) are granted for winning battles and can be paid in or used to
reproduce greater Axies withinside the game. Seasonal tournaments and promoting Axies at
some stage in the game’s market can earn you Axie Infinity Shards (AXS). AXS can also be
redeemed out, even though they are preproperated to paintings as shares, just like different
governance tokens. According to Bonheur (2021), numerous gamers have earned enough capital
because of their participation on this game. Numerous success tales had been featured withinside
the media in unique rural regions of the Philippines, for example. These variety from a
participant who turned into capable of offer for his family’s primary requirements in the course
of the epidemic to any other who turned into able to buy a residence and property (Villanueva et.
Al. 2022).
These works of visible artwork stimulated via way of means of blockchain pay recognize
to the intellectual fitness rollercoaster that many humans skilled because of incredibly centralized
finance all through the coronavirus outbreak and subsequent cryptocurrency bull run. Jacobo
(2022) shared his enjoy from the crypto effect. “I recognize I’m now no longer alone in seeing
those ghost charts for the reason that I’ve talked to numerous different buyers who’ve been
hooked to their screens over the past year. So, whilst we take a wreck from our computers, why
do a number of us observe crypto with inside the real world? What is those faint, floating strains
and numbers, and why are they bothering us?” Jocobo said. He additionally shared, “When you
have not slept in days and a deadly disease is snatching up buddies simply past your front door,
fear and pleasure appear the same. When I consider all of the humans, I relied on line who
chanted the crypto song, “We’re all going to make it,” I nonetheless sense a crippling feeling of
ignorance. By overdue May, I’d run out of reasons, had an empty pocket to contemplate, and had
evolved a brand-new burning ardor that become inflicting minimal hallucinations.” According to
Jacobo (2022), The complete cost of cryptocurrencies soared from around $242 billion to almost
$2.43 trillion all through the peak of the outbreak. Only some days later, the marketplace
plummeted via way of means of $1.3 trillion. Indeed, that may be an enormous sum of money.
But it become the quantity of real people in the back of those stats that involved me the most –
households and financial institution money owed shattered via way of means of marketplace
volatility. Cryptocurrency addictions are developing so great that a commercial enterprise region
is bobbing up to cater to them. According to Dylan Kerr, a personal scientific dependency
counselor, “crypto buying and selling is pretty corresponding to day buying and selling or
gambling.”
Axie Infinity (2020) interviewed Gabby for “Player Spotlight: Gabby!” with a purpose to
examine greater approximately his Axie adventure, the Axie network withinside the Philippines,
and his destiny forecasts. Gabby is a exceptional chief whilst it comes to selling Axie in
Southeast Asia. He is from the Philippines. Gabby has an extended records of running withinside
the video gaming industry. The first recreation to be launched withinside the Philippines became
through Axie Infinity in 2003. Altitude Games became based in 2014 with the goal of growing
cellular games. When Axie Infinity first found out approximately clever contracts in 2017, he
determined that this became the destiny of generation and started out exploring NFTs and
blockchain games (Axie Infinity, 2020). Gabby first found out approximately Axie in past due
2018 whilst he invited a chum to a dialogue approximately it in Manila. Gabby acquired 3 Axies
from a chum to start the recreation. It literally converted Gabby’s life, he remarked. Gabby
started out gambling the recreation, have become energetic withinside the network, and collected
a widespread sum of Cryptocurrencies withinside the process. Gabby made a few extraordinarily
exquisite pals as a end result of this, who he might also additionally or won’t have met in
character however who he considers to be a number of his maximum influential people (Axie
Infinity, 2020).

The Philippines is proving to be a middle for Axie activity, Gabby (Axie Infinity, 2020)
believes, due to the fact the Philippines is presently going through some of issues, which
includes big unemployment due to Covid and an financial system in disaster mode. When
gamers observed out that they may make a profession through gambling Axie and farming Small
Love Potion tokens, phrase traveled quickly, and the Filipino network grew through the day.
Gabby hopes that this fashion maintains and that it’s going to assist to construct a valued
financial system inside Axie Infinity for human beings throughout the global to take part in,
especially in deprived nations (Axie Infinity, 2020). Gabby is maximum enthusiastic
approximately Axie’s future, especially his land gameplay. When all gamers may want to do
turned into struggle and breed, he turned into involved approximately Axie’s future, however the
land gameplay transforms it right into a doubtlessly big meta financial system where human
beings can cooperate and construct long-lasting belongings with the intention to generate cost for
the game’s gamers and the larger network for an extended time. Gabby additionally supplied
projections for Axie and the NFT space. He expected that blockchain-primarily based totally
video games could be not anything greater than “video games’’ withinside the subsequent 12
years, that Axie will outperform the GDP of the smallest country, and that “withinside the
subsequent 12 years, my children might not want a university degree, they may simply want to
recognize the way to create cost in digital worlds to make a living.” (Axie Infinity, 2020).