What are the pros and cons of Axie Infinity?

Unlike with Bitcoin and Chia where they utilize the resources of your GPU and SSD respectively, Axie rewards its players with SLPs through the sheer grind of playing the game. Think of it as the battle points in Mobile Legends–except that those battle points can actually be converted to real cash. That’s one aspect of how Axie Infinity is a legit game-changer with its unique economic model.

Another aspect of it that makes it unique is the Axies being NFTs. With the many variables that can affect the rarity of a certain Axie, some Axies can fetch really high prices–with some valued at over Php 35 million! Along with a growing player base and a market that is more competitive than ever, the Axie economy in the Philippines is unique as it completely reimagined Pokemon as an actual economy.

However, just like with the general concern for NFTs, there are no definite standards at which Axies are the most valuable. Sky Mavis has yet published a guide on determining the value of Axies based on many factors (skills, appearance, breed, etc)–so there is that chance that a certain Axie being sold for a ridiculous amount of money is simply hyperinflated, with its price dictated by nothing but hype.

And just like with any product that involves the internet, stability and security are two of the biggest concerns about Axie Infinity right now. It is no secret that Sky Mavis has been running into server-related issues these past few days, and my colleagues and friends (including Unbox founder Carlo Ople) have also encountered problems logging in as well.

While that may sound like a cause for concern, Sky Mavis does acknowledge these problems, and publicly stated that they are working hard to improve the overall stability and security of the game. While such a statement may sound reassuring, we still do not know if Sky Mavis will be able to cover all the loopholes to prevent hackers from stealing the hard-earned Axies and SLPs of players.

To be fair with Sky Mavis, they do have a whitepaper detailing their planned roadmap for Axie Infinity. It still remains to be seen. In a nutshell, even if Axie Infinity is backed by big names, it has a strong economic model, one must weigh in the pros and cons and exercise caution before investing real money into it.