Since Axie Infinity is so popular because of it's Play-to-Earn platform here in the Philippines, and it is produced by Sky Mavis. Since then, they have it's worldwide partners such as Samsung, Ubisoft and more and it is a well known NFT games today.
Many YouTubers said that it is a ponzi scheme because managers will FORCE to give them money, which is not even the scholarship process because it is free to join their group if you are worthy enough.
If you want to know about the whole scholar process, check this:
Applying
- A player (in case, scholar) wants to apply and do an interview for scholarship.
- If the person is accepted, they recieve the pets and the seedphrase (in other case, QR) and then play with their hearts out.
Gaming
- A player has a quota of an average: 150 SLP per day to reach it, and it's all yours, or percentage based (average is 60%/40%) like you do an MCN on YouTube.
So that's it. So, other YouTubers says that is this a ponzi scheme, or it is a scam because you get all of your earnings, so is that true that it is a scam or not?
For the whole project, No.
Axie Infinity is not a ponzi scheme. Arsehole managers will do that scheme for money, not the whole project. As I said on the reaction video on YouTube and Odysee, People are WILLING to lose their money for the play-to-earn scheme which is the SLP or to sell their axies into the marketplace.
And it is not similar to Bitconnect which is the $600 million exit scheme that simulates REAL ponzi scheme with REAL money intended.
And don't be a crybaby when you see that when the SLP is down, it is a scam already, no. SLP and AXS are CRYPTOCURRENCIES. meaning that it is volatile (except stablecoins) so it can be up or down, just like investing Bitcoin or Ethereum, etc.
To be honest, scholarship programs are the people WHO DON'T AFFORD AXIE and do backseat gaming. That's what the axie was. The true managers are the managers who have a heart to not swindle their money just for profit.
Again, don't blame the whole project, blame the people who runs your system like managers and so on.
So, #notfinancialadvice and always do the crypto golden rule: Always buy what you can afford to lose.