IS AXIE INFINITY A SCAM?

The play-to-earn mechanics of Axie Infinity is like a pyramid, however, it is not a scam or a ponzi scheme. Ponzi scheme or a pyramid scam scheme entails no product at all. The money earned in ponzi scheme by the old timers will solely come from the new comers and the latter will not have any product but a promise. Whereas in Axie Infinity, there is a product bought by new comers, it is the Axie product/pet. It is a virtual asset as termed by the Banko Sentral ng Pilipinas. It is digital but has value. Thus, Axie Infinity is not a ponzi scheme because the new comers will have a product and that just translates to a Contract of Sale.

Are Axie products/pets similar to promise/useless stones that connotes zero value? No. Axie products/pets at the moment have value even if we say its 0.0000001 eth. Applying Economic's supply and demand, the value of these virtual assets is created because of demand. The supply dictates such value. Thus, it is not a ponzi scheme because the virtual asset has value.

Further, Axie is a property. It can be subject of appropriation that is why it can be stored in wallets. Unlike ponzi's, at the outset, there is no asset value to speak of. In latest jurisprudence I have read, it was bonds yielding too good to be true returns but it appears that payment of interests came from new buyers of bonds. It has no value at all. Do you agree that Axie pet has value? If yes, then no debate. If no, then why are some people buying expensive axies not for the purpose of playing it but collecting it.

The issue on the Economic Stability of Axie Infinity -
Axie Infinity can be divided into 2 economies, 1st - the typical pyramid model where new comers buy Axie products from old timers. 2nd - intra economics where insiders trade with each other.
Ponzi scheme has only 1 economic model and it has no product at all. Since we have conceded that it is a pyramid scheme but not Ponzi scheme per se, the going concern aspect of the game is similar to MLMs / Networking. The system will die if there are no new inputs into the system. However, Axie Infinity is not a retail/service business and not an investment set by Securities and Exchange Commision e.g. bonds, stock, or securities. It is a game. Its purpose is to entertain people. The money earned from it is just a by-product of people entertaining themselves. The reasons of people entering into the system are beyond legal syntax. Some people wants entertainment and some wants to earn. However, scam/fraud/deceit or other nomenclature for that matter is not committed by Axie Infinity. Axie Infinity by itself, is just a platform for Buy and Sell, Adventure and Arena. It has no malice or fraud. It was advertised/marketed as a game partnered with play-to-earn TOKENS. Developers did not say that playing the game will earn you real money. It just so happened that economics came in again. That is why Smooth Love Potion/AXS has value because there is demand for it. Where is the scam there when the promise made was that the game will earn you tokens?

Scam is created not by Axie Infinity but by PEOPLE promising high return of investments (real money).

Orale Ese of AxB eSports
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