REVIEW OF RELATED LITERATURE AND STUDIES

This chapter holds citations of information, studies

and literatures with the relevance of the researcher’s
topic. As well as the summary of references of other
studies supporting this research to further enlighten the
topic, accompanied by conceptual and theoretical
frameworks that heightens the understanding pf the
subject.

Local studies: 1.1 The 4 Brutal Truths and Bad

Effects of Axie Infinity.

According to Organiza (2021), Axie Infinity is now

the most popular non-financial token (NFT) game on the
Ethereum network. With over 7,000 monthly active users,
there’s no doubt that this Pokemon inspired game has
caught people’s attention. One of the best impact of Axie
is that it allows you to have fun while also making
money. We cannot, however, have the best of both worlds.
As a result, the game has some negative impacts. Some
player’s health is affected by Axie. This digital pet
game is addictive since it involves earning money. Some
people, on the other hand, can’t stop themselves from
playing too much, resulting in lack of sleep and meals.

While this may not appear to be harmful

to one’s health at first, chronic sleep
deprivation and malnutrition may have long-term
implications.
 1.1.1 For Filipinos, Axie is more than a Crypto
game.

According to Butler (2021) Axie Infinity is a

difficult game to master. It’s also difficult to cash out
you in game winnings. However, in the Philippines, this
“play-to-earn’ non-fungible token (NFT) game is growing
like wildfire. When I heard that over 100 folks in
Cabanatuan City, Nueva Ecija, were playing the game to
pay their bills and put food on their table after losing
employment during the COVID-19 lockdowns, I wrote about
it back in August 2020. The Philippines’s version of
motorbike taxi, Nueva Ecija is a rural province noted for
its rice fields and tens of thousands of tricycle
drivers.

Now Axie Infinity is the most popular website in the

world, thanks to the Philippines, more than
29,000individuals have downloaded Axie, up from roughly
10,000 in March 2021, according to the game developer,
Sky Mavis. Axie’s next greatest sources of traffic are
Indonesia and Venezuela, both emerging markets where jobs
are scarce and reliefs from crisis has been limited,
compared to a total of 70,000 downloads around the world.

Players of blockchain games can earn incentives in

the form of tokens or other rewards in Axie Infinity, a
major game in emerging play-to-earn movement. If the
player’s desires, those awards can be used in-game or
traded on an open market, because in-game assets were
previously constrained to the centralized protocol from
where they came, they were unable to moved off the
platform, the latter choice signals a significant shift
in the gaming world.

The thought of earning money via playing is a lot of

pleasure for some people. It has become a real
income-earning potential for others, as we are seeing in
the Philippines.
The thought of earning money via playing is a lot of
pleasure for some people. It has become a real income-
earning potential for others, as we are seeing in the
Philippines.

1.1.2 This Video game is turning the Pandemic

jobless into crypto traders.

According to Sayson (2021) Axie Infinity daily users

dwelled from 30,000 in April this year, and it also
generated just $21 million in revenue for Sky Mavis its
creator from 2018 inception through July. Since then its
brought in $48 million.

But also according to Sayson (2021) that despite its

large income gained by the creator. Axie frenzy has also
bred criticism that the platform is propped up new money
drawn to-get-rich quick premise.

1.1.3 People in the Philippines are earning

cryptocurrency during the pandemic by playing a
videogame.

Nunley (2021) as the Covid pandemic hit in the

Philippines, people in Cabanatuan City north of manila
have found a unique way to ease the hardship brought on
by lockdowns- playing video games.

The gameplay, however isn’t just for fun. Axie

infinity, created by Sky Mavis, Axie Infinity allows
players to earn income through non fungible tokens or
NFTS and the crypto currencies by breeding, battling, and
trading digital pets called Axies. The new mini
documentary released Thursday in Youtube by
crypto consulting firm Emfarsis and gaming company
Yield Guild Games called play-to-earn, follows several
Filipino people who play the game.

Foreign studies: 1.2.1 Learn to Master Axie

Infinity with KooKoo Crypto, Team NAS daily

Video games have gotten more popular in recent year,

and crypto has just recently exploded around the world.
These seems like an unlikely combination- but it was just
a matter of time before they came together to create a
whole new level of gaming. Crypto gaming is a new form of
gaming where you earn NFTs, rather than point for money.
Similar toother online games of the past crypto gaming is
a more relaxed, fun wat to trade and invest NFTs. If you
don’t get the hype behind NFTs, then crypto gaming might
just convince you. Axies are much like Pokemon, except
your Axies battle in teams of three against other teams.
Another difference is that your Axies that you win,
trade, and breed are also NFTs, which add a whole new
level of stakes to the game.
 1.2.2Inside Axie Infinity with Jihoz – Growth lead

Tsagkarasis (2020) Find Axie Infinity in our top

blockchain TGC list. What is Axie Infinity? Axie Infinity
is a creature collection and battle game, we
use blockchain technology to really owned by
its community. So we just allow them to earn crypto
despite playing the game. We also seek to be the first
game that’s really owned by its community. So we just
released a governance token called AXS to achieve that
goal. A lot of investors are looking into Axie Infinity.
That’s for two reasons. One is because you guys are doing
great work and are funded as a company. Other one is the
community, which along, is sharing all day long. The
community doing a lot of really hard work to expand and
evangelize the game. And Axie infinity is fun and really
leads itself for deep analysis.

1.2.3Axie Infinity a Deep Dive

As the blockchain tool has emerged and has been

previously become as valuable tools in adding illiquid
assets, users have been able to create wealth in new
ways, as one, Axie Infinity, the most talked-about NFT
project. Axies providing an alternative stream of income
will further incentivize holding. (Balrow 2021).

1.2.4 How Axie Infinity is helping jobless gamers

become cryptocurrency traders.
 Axie Infinity is one of the most popular – and
divisive – of these new games that allow players to
accumulate coins. The number of daily active users on
Axie Infinity has increased from 30 million to more than1
million in August, with the majority logging on from
developing countries hit hard by the Covid-19 pandemic,
such as the Philippines, Brazil, and Venezuela. According
to Etherscan, Axie, which was originally built on the
Ethereum blockchain, has recorded around $30 million in
Ether transfers per day over the last month.
That is not much in the $2.2 trillion
cryptocurrency universe, but it is significant for the
players – and governments – in poorer countries.
According to local media, the Philippines Department of
Finance and the Bur of Internal Revenue reminded players
on August 23 that their Axie Infinity profits are subject
to income tax. According to Larsen (2021) the creators of
this universe are responsible for making the economy to
make sure that it lasts. They are always tracking the
economy to make sure it stays healthy.