Reporting on Play-to-Earn Gaming | Field Notes

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  • เผยแพร่เมื่อ 12 ก.ย. 2024
  • We talk to the team who traveled across the Philippines, digging into the play-to-earn gaming phenomenon that's making some people rich, while critics say could be potentially exploitative.
    Ready Player Earn is available to watch on SHOWTIME.
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ความคิดเห็น • 585

  • @Palestineexists
    @Palestineexists 2 ปีที่แล้ว +359

    Always love my pre-internet games, playing for fun, no updates, no in-game purchases.

    • @crashjz
      @crashjz 2 ปีที่แล้ว +7

      Truth.

    • @longerino
      @longerino 2 ปีที่แล้ว +5

      Like chess.

    • @dannydaw59
      @dannydaw59 2 ปีที่แล้ว +9

      No dailies to do either.

    • @realshark1024
      @realshark1024 2 ปีที่แล้ว +4

      sounds boring

    • @elisabethholmes604
      @elisabethholmes604 2 ปีที่แล้ว +3

      Yes, sink in all those hours and get nothing in return. Just "fun." Smashing.
      Thank God for Diablo II and Ebay. Paid my bills with Rings of Jordan all through college.

  • @rockymtndrone
    @rockymtndrone 2 ปีที่แล้ว +333

    When you see ads constantly advertising play to earn games that means the companies making these games are generating advertising revenue and are making way more money off of you than you could make on their games.

    • @bloodshed102
      @bloodshed102 2 ปีที่แล้ว +14

      These scammers try and say nfts are revolutionary and unique. There’s nothing stopping someone from screenshooting or downloading the nft because at the end of the day, it’s just a jpeg.

    • @ethicalrealist5518
      @ethicalrealist5518 2 ปีที่แล้ว +8

      lol, i work in advertising and this logic makes 0 sense

    • @rockymtndrone
      @rockymtndrone 2 ปีที่แล้ว +5

      @@ethicalrealist5518 Advertising revenue is the monetary sum that a business generates from the advertisements that it places throughout different networks. If you are a for-profit business, the main reason for advertising expenditures is to generate further awareness and in turn generate revenue from that advertising. Therefore if play to earn games are heavily advertising their product then they are clearly trying to generate revenue from their target audience from said advertising. It is kind of sad that I have to explain that to you if you work in advertising, which I have worked on as well.

    • @egoshi
      @egoshi 2 ปีที่แล้ว +2

      maybe some others, but the only revenue the company of axie infinity (sky mavis) is making from it's users are marketplace fees at a fair rate, less than valve taxes on the steam item market. the volume is so high that this is more than enough for them, it's quite fair. everything else flows freely between users and the prices of everything are decided by the free market.

    • @ethicalrealist5518
      @ethicalrealist5518 2 ปีที่แล้ว +9

      ​@@rockymtndrone "When you see ads constantly advertising play to earn games that means the companies making these games are generating advertising revenue"
      This statement you alluded to above denotes that the ads that are executed via DSPs, PMPs, Exchanges etc. are directly providing revenue for said businesses. i.e. Standard IAB ad is clicked and it generates advertising revenue for the business. This is incorrect hence my comment.
      If an ad is clicked/ viewed /engaged upon, the business is not making money, they are being charged a certain rate (depending on the means of how it's being billed)
      The ones who are "generating advertising revenue" are the site directs, publications, DSPs, etc as they are selling inventory to host these ads.
      It is kind of sad that I have to explain that to you if you work in advertising

  • @tankfire20
    @tankfire20 2 ปีที่แล้ว +18

    Thank you for reporting on this. News companies rarely talk about exploitation, something that's poisonous to societies.

  • @shopcom
    @shopcom 2 ปีที่แล้ว +18

    It is simply a modern (NFT-ized, if you will) ponzi scheme. The only "winners" are those who jumped on the boat early on, and of course the devs.
    SLP is valued at $0.43 USD at the time of this writing and I personally know some people who are sitting on thousands of SLP waiting and hoping for the day the value goes "to the moon" again.
    How is the value gonna skyrocket again if anybody who has seen interest in this model (especially the whales) has already bought into it?
    Just like any ponzi/pyramid scheme, those at the bottom aka the "late investors" will all lose their hard earned money :(

    • @fluxophile
      @fluxophile 2 ปีที่แล้ว +4

      And even if the latecomers didn't lose a lot of their own money, they will have lost many hours of their time that could have been spent on literally anything else, productive or otherwise.

    • @mandisaw
      @mandisaw 2 ปีที่แล้ว +2

      Financial illiteracy is a widespread issue, even in the States, and even among people with a lot of money to spend. So many millionaires/6-figure earners jumped into crypto, heeding randos online (and their own greed) rather than seeking genuine financial advice. No legit investment guarantees *any* returns, let alone these crazy numbers (20, even 30%?!).

  • @thelittleerik4806
    @thelittleerik4806 2 ปีที่แล้ว +14

    Play to earn crypto games are another word for multi level marketing.

  • @rockymtndrone
    @rockymtndrone 2 ปีที่แล้ว +152

    It’s very sad to see that gambling is extremely prevalent in many online spaces, especially in flashy colorful games that are aimed towards children, which definitely contributes to a need for instant gratification in younger generations.

    • @walshy7499
      @walshy7499 2 ปีที่แล้ว +6

      you must not have done any research, lmao.

    • @zainhanif9558
      @zainhanif9558 2 ปีที่แล้ว +1

      its not gambaling since theres no taking risk, if you want u can earn money at no risk of losing any, yes u wont make much, but for gambling to be gambling you need to be taking a risk to make that profit but thats not whats happening here. u could say having cash is gambling then since the value of it can always change too just like crypto

    • @oo--7714
      @oo--7714 2 ปีที่แล้ว +4

      @@datbang5072 it isn’t, crypto games aren’t marketed towards kids, you should know that colourful games don’t mean they are targeted towards kids

    • @cc-dtv
      @cc-dtv 2 ปีที่แล้ว

      "younger generation" bro every time I walked into a casino to play poker, all I saw were rows and rows of degenerate boomers gambling away their kids inheritances on fucking SLOT MACHINES. its really sad and kind of pathetic honestly, like if they started smoking crack instead it would provide way more dopamine and probably even be cheaper. if you wanna make this a generation thing, clearly the boomers are the dumbest, fucking slot machines LOL

    • @walshy7499
      @walshy7499 2 ปีที่แล้ว

      @@datbang5072 Because it's not gambling if there is not betting involved. You can play Axie for free.

  • @pseudounknow5559
    @pseudounknow5559 2 ปีที่แล้ว +10

    A comment said "A dude with a woman's voice... distracting." LMAO

  • @chilliheadgaming5964
    @chilliheadgaming5964 2 ปีที่แล้ว +16

    Vice should do a mini documentary about crazy predatory monetization of Diablo Immortal.

    • @fluxophile
      @fluxophile 2 ปีที่แล้ว

      And Roblox. People Make Games made an excellent series of investigations into them, and it needs more attention.

    • @Justyn_Lim_
      @Justyn_Lim_ 2 ปีที่แล้ว

      Diablo immortal predatory monetization is not crazy, it really very standard. Tons of mobile games does the same as what Diablo immortal have. Not something worth making a video for Diablo immortal specifically, but more like mobile games in general.

  • @andrewlum
    @andrewlum 2 ปีที่แล้ว +33

    Amazing story. So many facets of new technology and their impacts coming out from this reporting of a game. There is still so much to be explained but I think VICE did a great job summarizing the contents.

  • @ReclusiveEagle
    @ReclusiveEagle 2 ปีที่แล้ว +11

    "This is the future!"
    The future is sad then

  • @aydapadistudio
    @aydapadistudio 2 ปีที่แล้ว +105

    I'm from the 🇵🇭 and I know people who actually play this game and see it as an "investment." Some have tried recruiting me by telling me - if I'm going to play mobile games anyway, I might as well earn from it. I've never really bothered to learn how this game was played cos it seemed like a scam (the more you play, the more you win? Come on!). Glad I watched this - I now have a better understanding of it.

    • @レンシー-w8j
      @レンシー-w8j 2 ปีที่แล้ว +5

      NNK / Mir4 are way better than this sh1t game XD

    • @jpcampello
      @jpcampello 2 ปีที่แล้ว +9

      i earned a good amount of money last year with axie...... it was an oportunity, but now with the slp price its not worth it anymore

    • @uniGABB
      @uniGABB 2 ปีที่แล้ว +1

      @@レンシー-w8j imagine recommending trash mobile games

    • @GolDFish-of4qs
      @GolDFish-of4qs ปีที่แล้ว +1

      @@レンシー-w8j every earn to play game are full of sh!t bro. Don't expect to be a billionaire by playing those games. Lol 🤣

    • @GolDFish-of4qs
      @GolDFish-of4qs ปีที่แล้ว

      @@jpcampello of course you did. It's a ponzi scam. They made you earn money first but in the long run you'll lose more than you earn Be smart next time.

  • @Tejah
    @Tejah 2 ปีที่แล้ว +10

    What a coincidence all the money was robbed when things were headed south.

    • @threethrushes
      @threethrushes 2 ปีที่แล้ว

      The guy who owned it must have been suffering from massive cognitive dissonance:
      - to becoming USD640M richer than morning
      - having to pretend to be sad that someone had 'hacked' his baby.
      lol

  • @Vyrkhan
    @Vyrkhan 2 ปีที่แล้ว +8

    The journalists explained how the business model works, which is not different to conventional video games and more precisely, MMOs.
    But let me expand deeper on it:
    - In order to play the game, you need axies. All axies are NFTs that you must buy from other players or mint them.
    + Not different to buying a game from the store, you can re-play it as much as you want or sell it when you get bored.
    + Once you have a group of 3 axies, you can start playing the game and start ranking up in the leaderboard.
    - Same as any popular FPS w ranked games, you must win games to get a higher rank and earn rewards. Thats the only way to earn them, so in reality its not a "guaranteed profit" as its claimed. If you dont win then you dont get paid, as simple as that.
    + Fornite/Apex and some other FPS games have weekly cash prizes, and same as here, you need to rank higher to earn them.
    + Same as Hearthstone, you need the current META to have a chance to reach the highest ranks, which drives more demand for meta Axies.
    - All this rewards were paid in 2 tokens, SLP for winning battles and AXS for getting a high ranking in the leaderboard. AXS is the governance token of the game and basically the same as owning a share of the whole ecosystem, SLP is a burned token used to mint new Axies (Now it has more uses).
    The amount of new minted tokens earned by winners/high ranking players wasnt enough to surpass the inflow of money coming from the marketplace. Today is multiples higher than current inflation, even after the big crash of crypto in general (You can review this numbers on-chain, or just compare the sale volume from marketplace w inflation).
    In fact, most of this tokens were burned in-game to mint new axies and prepare better for the next seasons, the new inflow of axies would encorage breeders to reduce the price of common axies, basically lowering the entry for new players. Most of the time, breeding resulted in a loss, so it wasnt a guaranteed profit in any way. That didnt discouraged breeders to stop trying to mint rare/meta axies (explained above) for a new season, which means a higher demand for SLP, requiring re-curring capital (purchases) from the same players.
    What most people including the journalists are failing to explain, is simple market behaviour and a hot trend with high expectations will always result in a higher premium for the newcommers. Once the cryptomarket crash started, it collapsed the prices of many of these axies which resulted in losses for the player base but it wasnt the P2E model that crashed the market.
    Any market in the world have economic cycles, even virtual ones like world of warcraft, runescape or axie infinity.
    TLDR: P2E allow players and investors to reap the benefits of the success of the game. Instead of only the latter. Nothing more, it doesnt promise to replace your job or future career that would depend solely on your skills as a player (e-sports) and how popular the game becomes
    Ah, and the money earned by the Philipines to upgrade their homes didnt came from a P2E model, it was mostly the market hyping the trend and increasing the value of their assets

  • @cc-dtv
    @cc-dtv 2 ปีที่แล้ว +36

    lmao that black dude with glasses is clearly a man of culture "yeah i played the game but it sucked so"

    • @jamesoctura693
      @jamesoctura693 2 ปีที่แล้ว

      But he doesn't seem to have done some research when asked about the hacking event. Ronin bridge is already open for withdrawals so the people can take their money out if they wanted to in contrast to what happened to celsius and voyager where people's money are locked out indefinitely.

    • @mandisaw
      @mandisaw 2 ปีที่แล้ว

      @@jamesoctura693 You don't know when exactly this interview was done. Could easily have been while Ronin was shutdown

  • @ckwind1971
    @ckwind1971 2 ปีที่แล้ว +2

    Somebody said: If you aren't paying for a product, you're the product.
    I think it was about Facebook

  • @Rodericken
    @Rodericken 2 ปีที่แล้ว +25

    To be honest, Micro transactions in videogames have been there forever if you imagine all the MMO's. I sold a twisted bow in OSRS for about 450euros. Even a tad longer ago they had a place in this game named the " Duel arena " where basically people gambled with these gold points. Many many children mostly became victims of online gambling addictions and even used their parents credit card to obtain gold in the game. Gaming initially is about game mechanics and becomming more skillful over time. Nowadays you can just buy " Skills " or you're actually the biggest loser in online video gaming.

    • @ThePharaohsCat
      @ThePharaohsCat 2 ปีที่แล้ว

      The bow was art of artefact you created?

    • @nfgneme1211
      @nfgneme1211 2 ปีที่แล้ว

      Ye but difference is in play to earn you actually own the item and account in games like WoW or LoL you think you own it but you don't and if caught selling or buying anything on a secondary market you are banned and lose everything

    • @marekvacinek699
      @marekvacinek699 2 ปีที่แล้ว

      got up to 136B in duel arena :D sold for 4000$ and lost the rest :D this was about 3 years ago

  • @stopthecycleofabuse9689
    @stopthecycleofabuse9689 2 ปีที่แล้ว +2

    Regulation won't catch up for centuries.

  • @kings_chronicle592
    @kings_chronicle592 2 ปีที่แล้ว +12

    Thank you for your story on my country guyana and it's level of curruption.please do more to wake the people up.the racial divide is horrible here.

  • @newsgirl1972
    @newsgirl1972 2 ปีที่แล้ว +5

    I am amazed that no one has built a bot to play the game for them. Lol

  • @chrislovett3553
    @chrislovett3553 2 ปีที่แล้ว +3

    NFT= quick way to be finessed

  • @ericstevens8138
    @ericstevens8138 2 ปีที่แล้ว +5

    I miss when you got beat up with a bat over gambling, now gambling is coming home and seeing your 8 year old spent $200 gambling for a hat for there virtual character

  • @dfjulesful
    @dfjulesful 2 ปีที่แล้ว

    Where can I watch the original doc in this video?

  • @damoneymaker
    @damoneymaker 2 ปีที่แล้ว +77

    Dayum! Accurate reporting to the core about play to earn and NFT's! These techies wants us to live in fantasy world!

    • @Chingy42069
      @Chingy42069 2 ปีที่แล้ว +7

      They want the people with $$$ living in it. It's just a bonus roping in anyone else.
      Smh scamming got way worst.

    • @JohnSmith-pn2vl
      @JohnSmith-pn2vl 2 ปีที่แล้ว

      you did not understand anything, like most ppl.
      so you hate $ because tis used for bad things ? no
      bft is just a technology of trust, the best one we ever had.
      bitcoin is an NFT

    • @damoneymaker
      @damoneymaker 2 ปีที่แล้ว +1

      @@JohnSmith-pn2vl you do you and we do us! It's your money and it's our money! Nobody cares what you do with your money.

    • @GolDFish-of4qs
      @GolDFish-of4qs ปีที่แล้ว

      @@damoneymaker then waste your money on this stupid games bro nobody is stopping you lol 🤣

  • @JWFdocumentaries
    @JWFdocumentaries 2 ปีที่แล้ว +8

    #Munecat covered this very well in one of her "deep dive" vids. I recommend watching

  • @B.D.B.
    @B.D.B. 2 ปีที่แล้ว +5

    How does this differ from any other online game with a marketplace? Besides ownership being based on blockchain and not centralized, which is pointless, because as mentioned it is worthless outside the game. If anything most games prohibits real money transactions, because it unbalances the games and incentivizes cheaters.

    • @mrbombastikalime9867
      @mrbombastikalime9867 2 ปีที่แล้ว

      Say you buy Cod points, the tokens are worthless. Say you earn SLP you can cash it out so it isnt worthless outside the game. One is a closed loop that only benefits the company. The other is an open loop that benefits the user. Ronin chain is arguably very centralised in how their blockchain works. It's had alot of tweaks, tbh its a pretty simple game and as mentioned about the centralisation, axie can ban wallets.

    • @nushia7192
      @nushia7192 ปีที่แล้ว

      RMT or real money trading in conventional mmorpgs a fully and completely illegal. And you can't cash out your wasted time in-game.

  • @oonegro82
    @oonegro82 2 ปีที่แล้ว +18

    This is just hard to fathom, as a true avid video game player born of the Nintendo generation where video games are in My DNA 🧐... I've seen the downturn of the Apex from video game arcade centers once the introduction of home entertainment systems became mainstream for consumer assumption, then as the console Wars took foothold into the everyday life, the next gen platforms started to introduce slowly but surely the pre-ordering the buckle and DLC purchases, which then led into the microtransactions, and the Pandora's box of online bait and switch, hoodwinking, pay to play, video games that we have now. With businesses, whose bottom line is just to make money point blank: finding ways to suck the life force dry from somebody's wallet or bank account is now up to the marketing and advertising committee with all the bait and switch type ads, or trying to find ways of getting real world currency from individuals; and now with this it seems like real world fake currency as well 🤔....
    I really can't say that I'm appalled, but I feel bad for those individuals who are getting bamboozled into this when they're just looking to play a game... And there are free to play to earn in the game, for just upgrading your stats or RPG elements just in the game I don't know anything about trying to make money back from doing stuff or anything like that.... This is my first time hearing about it after seeing this educational video on the reporting of how the true singularity of Pandora's box has been opened 🧐

    • @thehunzz
      @thehunzz 2 ปีที่แล้ว +3

      Well said. Sounds like we're from the same generation. IMO, much of the type of behavior you touch on has to do with a generational lack of morals & the ethics of those running these game companies. While most in the younger generations consider the current manner & extent of customer data collecting to be completely normal & above board, most in older generations find it borderline reprehensible.

    • @oonegro82
      @oonegro82 2 ปีที่แล้ว +1

      @@thehunzz I can respect and appreciate your Insight.... Indubitably 🧐!
      I literally just found a new, brand new "Free 2 Play 2 Earn" game that has been out since 2018, and then it just got a rebranding back and early 2020. The game company is called Roboto games, and they're an indie game company, they made a phenomenal classic online game which brings back so many nostalgic memories of me playing video games when I was younger, I know I made the statement and claim that every business which is true their bottom line is to make money. It seems Roberto games is going about their business formula a little bit differently though, with the key catalyst of the formula being the word play. They've clearly have hired a team of developers that have been gamers in their lives, or has experience video games growing up both the good and bad ends of the spectrum. Because their product that they have made and presented to the masses for consumption is just phenomenal, not to get on a nerd tangent; but the game that I found first is called might and monsters, it is the sequel to the game that Roberto games made called last Mage Standing, formerly known as Arx Arcana. I don't work for the company nor am I affiliated with them in any shape form of fashion, as I mentioned I stumbled across their sequel a few months ago and got hooked on playing it, and then after doing some research on the game and the company I found that they had made an original classic that I knew nothing about, and that is the last made standing, o.k.a. Arx Arcana. Just like LeVar Burton would say at the end of every single Reading rainbow, Don't Take My Word for It!".... It really is worth checking out and coming to your own inference about how much F.U.N. it is...🤔

    • @bucherregaldomi9084
      @bucherregaldomi9084 2 ปีที่แล้ว

      @@thehunzz Ahhh yes man, the newer generation is always evil, that's the oldest old lady tale in the book

  • @DaringBob312
    @DaringBob312 2 ปีที่แล้ว +3

    The value of the product requires new people to enter to keep profits rolling. So... Same as the current system of the stock market.
    Sometimes it's hard to listen to you guys call crypto the greater fool theory and not our current military system. The US dollar is only worth something because someone agrees with you. At least with bitcoin and some other crypto we can see what's going on behind the curtain.

    • @mandisaw
      @mandisaw 2 ปีที่แล้ว

      Nope - USD is backed by the full faith & credit of the US government - and its military. The dollar has value because every other country in the world agrees that the US has value, and if they don't agree, well, that's where the military aspect comes in.

  • @Jo3JoE89
    @Jo3JoE89 2 ปีที่แล้ว +7

    I blame the candy-crush microtransactions on mobile gaming as precursors to the whole nft kink. The in-between being console gaming transactions still rampant to this day on major labels.

    • @sendthis9480
      @sendthis9480 2 ปีที่แล้ว +5

      Dude…there are SOOOOOO many societal constructed that lead to this sort of thing.
      You’re right. Candy crush stuff doesn’t help.
      But it goes way beyond that.
      It’s reality tv, the participation award, “you can do anything you set your mind to”, Dunning Kruger Effect.
      LOTS of things.

    • @mandisaw
      @mandisaw 2 ปีที่แล้ว

      Exploitation of people with less information & resources is very, very old.

  • @Joyle1
    @Joyle1 2 ปีที่แล้ว +2

    That's so bad. Here in Australia there's a company called Balthazar NFT gaming pushing these games. It's pretty bad - they prey on those people that don't fully understand. Ponzi asf

  • @xPersianxKing
    @xPersianxKing 2 ปีที่แล้ว +9

    It’s extremely shocking that Runescape and it’s GP was not a option for research vice, been around longer and is still actively traded in the billions.

    • @blackice364
      @blackice364 2 ปีที่แล้ว

      they are washed and just want buzz words like nft and crypto currency to get views

    • @ryanscott6600
      @ryanscott6600 2 ปีที่แล้ว

      Big facts here. Slept on.

    • @neoxyte
      @neoxyte 2 ปีที่แล้ว

      Difference is that these games have a legally allowed way of selling your earnings for real currency while RS and OSRS are against TOS of the game (even though a lot of people do it).

    • @HerbQuest
      @HerbQuest 2 ปีที่แล้ว

      Came here expecting to see something about RuneScape

  • @eamran19
    @eamran19 2 ปีที่แล้ว

    Hello vice news why you guys doesn't cover story about Myanmar?

  • @Von199X
    @Von199X 2 ปีที่แล้ว +3

    No Lie I lost 3000$ in this stupid game I stopped playing 8 months ago

  • @cryptic3461
    @cryptic3461 2 ปีที่แล้ว +7

    If it sounds too good to be true, it most likely is.

  • @karmakazi219
    @karmakazi219 2 ปีที่แล้ว +13

    Did I miss something, or did Vice produce a 5 minute video about these "play to earn" apps and now they just released a 25 minute video about "the making of" the 5 minute play to earn apps video?

    • @1kdentertainment424
      @1kdentertainment424 2 ปีที่แล้ว +1

      WEEN

    • @mandisaw
      @mandisaw 2 ปีที่แล้ว +2

      The 5min YT version is just a clip of the full episode on Showtime

  • @mikebauer6917
    @mikebauer6917 2 ปีที่แล้ว +9

    The sheep will be sheared… and already have. The money wasn’t stolen. It was harvested.

  • @Ok.I.Pull.Up.420
    @Ok.I.Pull.Up.420 2 ปีที่แล้ว +24

    Been a fan of vice for years, definitely great journalism! Really interesting and something I probably wouldn’t normally watch.

    • @aliasgar1713
      @aliasgar1713 2 ปีที่แล้ว

      Yeah me too. I recommend vice to others. Educates the people love your work Vice. To all the members❤ love you guys.

  • @jwalk121
    @jwalk121 2 ปีที่แล้ว +4

    For people to understand how this works, you make money off the backs of liquidity providers. "Play to earn" is super unsustainable business model and will literally never work. Pay to play is the only possible model out there that is possible.
    Why?
    Play to earn means there needs to be a profit superseding the player beggining to earn money. Unless on average each player purchases in-game novelties like skins greater than the amount "paid out" (again, the pay is a token that is traded so its backed by liquidity providers and pumpers), then there is literally no way for any play to earn game to exist past onboarding.
    It can only possibly work as a way to onboard and if the game is good enough to play for free, then it can work.
    Its a business model that doesn't work. Simple as that. I'll take any replies to defy this but I tried doing the math and i cant make it make a profit without taking advantage of liquidity providers or in-game novelties.
    Good games dont need NFT's, thats the truth. It will take a good game that wants to implement web3 for NFTs in games to work. Epic has partnered with Gala so it may work but TBS

    • @christofthedead
      @christofthedead 2 ปีที่แล้ว

      Like this video mentions, the distinction between "play" and "work" is subjective. Considering that actions in digital worlds can have real impacts on the real world (look at military drone strikes), and people get paid quite well for their actions in digital spaces, saying "play to earn" doesn't, and will never exist, doesn't sound very realistic.

    • @mrbombastikalime9867
      @mrbombastikalime9867 2 ปีที่แล้ว

      Business model of constant inflation and the dumping of the token to zero doesn't work. New models are emerging that scale the economy dynamically to balance things out.

    • @Vyrkhan
      @Vyrkhan 2 ปีที่แล้ว +1

      The journalists explained how the business model works, which is not different to conventional video games and more precisely, MMOs.
      But let me expand deeper on it:
      - In order to play the game, you need axies. All axies are NFTs that you must buy from other players or mint them.
      + Not different to buying a game from the store, you can re-play it as much as you want or sell it when you get bored.
      + Once you have a group of 3 axies, you can start playing the game and start ranking up in the leaderboard.
      - Same as any popular FPS w ranked games, you must win games to get a higher rank and earn rewards. Thats the only way to earn them, so in reality its not a "guaranteed profit" as you claim it. If you dont win then you dont get paid, as simple as that.
      + Fornite/Apex and some other FPS games have weekly cash prizes, and same as here, you need to rank higher to earn them.
      + Same as Hearthstone, you need the current META to have a chance to reach the highest ranks, which drives more demand for meta Axies.
      - All this rewards were paid in 2 tokens, SLP for winning battles and AXS for getting a high ranking in the leaderboard. AXS is the governance token of the game and basically the same as owning a share of the whole ecosystem, SLP is a burned token used to mint new Axies (Now it has more uses).
      The amount of new minted tokens earned by winners/high ranking players wasnt enough to surpass the inflow of money coming from the marketplace. Today is multiples higher than current inflation, even after the big crash of crypto in general (You can review this numbers on-chain, or just compare the sale volume from marketplace w inflation).
      In fact, most of this tokens were burned in-game to mint new axies and prepare better for the next seasons, the new inflow of axies would encorage breeders to reduce the price of common axies, basically lowering the entry for new players. Most of the time, breeding resulted in a loss, so it wasnt a guaranteed profit in any way. That didnt discouraged breeders to stop trying to mint rare/meta axies (explained above) for a new season, which means a higher demand for SLP, requiring re-curring capital (purchases) from the same players.
      What most people including the journalists are failing to explain, is simple market behaviour and a hot trend with high expectations will always result in a higher premium for the newcommers. Once the cryptomarket crash started, it collapsed the prices of many of these axies which resulted in losses for the player base but it wasnt the P2E model that crashed the market.
      Any market in the world have economic cycles, even virtual ones like world of warcraft, runescape or axie infinity.
      TLDR: P2E allow players and investors to reap the benefits of the success of the game. Instead of only the latter. Nothing more, it doesnt promise to replace your job or future career that would depend solely on your skills as a player (e-sports) and how popular the game becomes.

    • @Vyrkhan
      @Vyrkhan 2 ปีที่แล้ว +1

      Ah, and the money earned by the Philipines to upgrade their homes didnt came from a P2E model, it was mostly the market hyping the trend and increasing the value of their assets.

  • @hitzoneproductions7858
    @hitzoneproductions7858 2 ปีที่แล้ว +8

    Life is looking more and more like a dystopian movie.

  • @Jlin0012
    @Jlin0012 2 ปีที่แล้ว

    Where can I find the original piece this video was talking about

  • @sonny5068
    @sonny5068 2 ปีที่แล้ว +15

    Keep up the great work Vice!

  • @etnikk100
    @etnikk100 2 ปีที่แล้ว +4

    I suggest you watching Old School Runescape game, that selling game currency for IRL money have been there forever that generate hundreds of thousands of dollars, even to some venezuelans and other countries with bad economy that play different accounts at one time to maximize their efficiency!

    • @rdizzy1
      @rdizzy1 2 ปีที่แล้ว +1

      At least that is nowhere near as bad as crypto/nft pyramid schemes though. In those instances, most people work for themselves, and don't need to recruit other people to farm gold. More like a normal job or contractor than being part of a pyramid scheme.

    • @etnikk100
      @etnikk100 2 ปีที่แล้ว

      @@rdizzy1 i agree completely, in this particular instance real world trading is against the game rules and still its so widespread because of the peoples financial difficulties and the role this thing plays in their life

    • @luiskross6454
      @luiskross6454 2 ปีที่แล้ว +2

      I can't believe ppl still play that game, I miss my santa hat

  • @theEpicxY
    @theEpicxY 2 ปีที่แล้ว

    battle dawn? in india???

  • @lewys9204
    @lewys9204 2 ปีที่แล้ว +8

    I'm from the u.k. and found some sites, apparently most are fake with incentives of large amounts that never get paid. There was 4x that are real but they only pay you via a voucher card worth $1 for every hour completed. In countries where the pay is $2 per shift I can see why theyd want to play this app. But the game will eventually ware you out; its mindless.

    • @brimmed
      @brimmed 2 ปีที่แล้ว +1

      what's the sites that pays you $1 per hour completed? is it a mindless game or do you have to pay attention? just wondering if it's possible to take advantage of it and just make a bot do the work

    • @we8608
      @we8608 2 ปีที่แล้ว

      @@brimmed is it really THAT easy to make a bot?

  • @xgold-lifeofficial7716
    @xgold-lifeofficial7716 2 ปีที่แล้ว +4

    I had 2 survey pay apps, noticed my RAM usage shot up about 600mb even when not using the apps, uninstalled back down 600mb. Just saying.

    • @pretzela318
      @pretzela318 2 ปีที่แล้ว

      maybe it's running on the background, just close it if it bothers your phone that much

    • @xgold-lifeofficial7716
      @xgold-lifeofficial7716 2 ปีที่แล้ว +4

      @@pretzela318 do you think im dumb? It was running when closed. I have developer otions menu opened. When i uninstalled immediately freed up 600mb. My guess is they were using all kinds of info on my phone to sell.

    • @FarmingUnclear
      @FarmingUnclear 2 ปีที่แล้ว +5

      someone once said that if you don't pay for a product, then you're the product.
      free = free labor

    • @theslayzinn
      @theslayzinn 2 ปีที่แล้ว

      @@xgold-lifeofficial7716 10000% true.

    • @mandisaw
      @mandisaw 2 ปีที่แล้ว

      @@xgold-lifeofficial7716 Most likely they had embedded a crypto-mining service in the background. It's a problem with a lot of "free" apps

  • @joshuachristofferson9227
    @joshuachristofferson9227 2 ปีที่แล้ว +8

    The host asked some really good questions & he did a really good job!

    • @cygnus-x
      @cygnus-x 2 ปีที่แล้ว

      I think it's a female.

    • @joshuachristofferson9227
      @joshuachristofferson9227 2 ปีที่แล้ว +1

      @@cygnus-x I really cannot keep track 😉🤣 #DontKnowDontCare

  • @danielfigueroa1592
    @danielfigueroa1592 2 ปีที่แล้ว +1

    I’m surprised Vice did not do a report on RuneScape and how people literally play all day to earn an income.

  • @superruca
    @superruca 2 ปีที่แล้ว

    is the game available in the US?

  • @smileygladhands
    @smileygladhands 2 ปีที่แล้ว +16

    After being heavily invested in crypto the past 2 years, I can honestly say about 98% of crypto projects are scams. Do your own research, people. Don't just watch some TH-camr and go all in based on their advice.

    • @fluxophile
      @fluxophile 2 ปีที่แล้ว +8

      You're off by about 2%.

    • @we8608
      @we8608 2 ปีที่แล้ว +1

      @@fluxophile exactly 💯💯💯💯

    • @Tomburnz
      @Tomburnz 2 ปีที่แล้ว

      Well normally I would agree with you but this isn't just some TH-camr it's a vice vice is legit as it gets bro they've made their bones they've been in the journalism game for years both on TH-cam and on actual TV

    • @FarmingUnclear
      @FarmingUnclear 2 ปีที่แล้ว +1

      invest in $SCAM coin. it's legit not a scam.

    • @threethrushes
      @threethrushes 2 ปีที่แล้ว

      @@fluxophile lol

  • @DoobieKeebler
    @DoobieKeebler 2 ปีที่แล้ว +4

    There's an inside joke, that the guy who makes one of his points at 12:27 reminded me of:
    "Oh, I gotchu, bro! I'll pay you back, season-after-next season..."
    If you get it, you get it.

  • @The-Entelechy
    @The-Entelechy 2 ปีที่แล้ว +3

    What's the point of playing when you just make it work. The only thing this is good for is taking advantage of countries with insane inflation or poverty by using them as metrics for your "game"

  • @similaritiesendhere
    @similaritiesendhere 2 ปีที่แล้ว +2

    Anyone who thinks that game companies want to give their customers money instead of the other way around is unfit to walk around without a helmet.

    • @snwboardr9876
      @snwboardr9876 2 ปีที่แล้ว

      It’s not the gaming company giving out money. Other players are buying the SLP from people selling it in order to use it to upgrade their assets in game or create new assets. Maybe you should learn how the ecosystem functions first before making such harsh judgements about something you know nothing of.

    • @similaritiesendhere
      @similaritiesendhere 2 ปีที่แล้ว

      @@snwboardr9876 What you're describing sounds like pyramid scheme. The developers skimming off the top while the people at the bottom buy worthless "ASSETS" with real money
      Anyone who can't figure this out is either in on the scam or a born mark. I bet you woke today feeling real smart.

  • @kylecasler8239
    @kylecasler8239 2 ปีที่แล้ว +1

    It seems like stuff like this can only work. In 3rd world countries where their currency is low on the global market but good for the people who actually benefited from it

  • @jyamez9069
    @jyamez9069 2 ปีที่แล้ว +5

    vice has really upped their quality as of recent, real excellent journalism!

  • @Makesyouquestion
    @Makesyouquestion 2 ปีที่แล้ว +11

    The reporter hosting the chat is trying too hard, questions don't need to be so forced

    • @we8608
      @we8608 2 ปีที่แล้ว

      Masculinity is toxic as a mf. That's why. 🥹

  • @lifoinvestments3310
    @lifoinvestments3310 2 ปีที่แล้ว

    During the harshness of this bear market is where the seeds that will grow taller are planted.
    I do not intend to incite anyone to buy something they do not like, but if I come to propose something that really has an abysmal potential.
    Dracoomaster is a strategic roguelike deck-building game. PVE / PVP, Breeding, Enhancing...
    It seems to correct most of the economic structure problems that Axie infinity had... it adds burning systems, such as cannibalism, card upgrades and dragons (necessary to be able to climb in higher ranks of pvp and pve respectively)
    I'm not here to buy anything or give my referral number, I'm just here to share a project that out of all the garbage on the market is the one with the best structure and product on the table.
    Yes, I would like you to review the project a little and tell me what positive and negative things you see in it... the potential you think it can have etc etc...
    Thank you very much for your time.

  • @DensDaPens
    @DensDaPens 2 ปีที่แล้ว +9

    00:54 While there is a place named Cabatuan in the Philippines, it's not a city, they speak a different language than Tagalog (spoken in the video) and certainly not the place where Axie exploded.
    You're looking for CABANATUAN CITY, and not even a minute into the video I already know the quality of research and journalism to expect.

    • @Wehdeo
      @Wehdeo 2 ปีที่แล้ว

      They do verbally confirm later in the video that they went to Cabanatuan.

  • @Sequenceserenade
    @Sequenceserenade 2 ปีที่แล้ว +3

    It’s a part of the block chain! everything‘s accounted for nothing bad can happen. 600million gone: welp

  • @we8608
    @we8608 2 ปีที่แล้ว +26

    Thank you for this. I thought my job sucked but damn. I'd rather make minimum wage in a toxic work environment than "get paid to play" cell phone games. Those folks are hella weird.

    • @oo--7714
      @oo--7714 2 ปีที่แล้ว +9

      Why, if it pays the same or better, why?
      In the philiphines it pays well

    • @fluxophile
      @fluxophile 2 ปีที่แล้ว +17

      @@oo--7714 Did you even listen to the reporting? Most people who have accumulated SLP are just sitting on it hoping they will someday be able to sell it, after both the $617M bridge hack AND cryptos of all types tanking in value. People keep saying it "pays" well, but most people who actually need that money still either can't or haven't cashed out.

    • @oo--7714
      @oo--7714 2 ปีที่แล้ว +3

      @@fluxophile dude most of the people in the video have made a profit, the videos shows some guy who was able to get a house etc.
      And for the most part these sorts of crypto, and even questionnaires for money make it hard to cash out.

    • @fluxophile
      @fluxophile 2 ปีที่แล้ว +12

      @@oo--7714 Some people profit in every scam, that's nothing new. And it's flatly misleading if not blatantly untrue to suggest most people have cashed out a lot, the reporters directly state that most of the people they spoke to haven't cashed out.
      Only a tiny fraction of the total "liquidity" in the Ronin bridge has actually been cashed out by the poor in the global south. The majority are renters too, so most of the coins they earn go to their axie landlords anyway.

    • @we8608
      @we8608 2 ปีที่แล้ว +8

      @@oo--7714 WRONG. A few people made money. A very very very few. Most people lost a lot of money because ultimately, time is money.

  • @maudepotvin8660
    @maudepotvin8660 2 ปีที่แล้ว +5

    It's just concentrating wealth into a few hands ...

    • @FarmingUnclear
      @FarmingUnclear 2 ปีที่แล้ว

      so... capitalism with extra steps?

    • @theslayzinn
      @theslayzinn 2 ปีที่แล้ว

      that is not the point

    • @we8608
      @we8608 2 ปีที่แล้ว +1

      @@theslayzinn it never is, but that's always what winds up happening.

    • @we8608
      @we8608 2 ปีที่แล้ว +1

      @@FarmingUnclear more like corruption.

  • @mycraft
    @mycraft 2 ปีที่แล้ว

    How come you guys didn't invite Christopher Natsuume? You keep loosely quoting him.

  • @BeatsbyBlanch
    @BeatsbyBlanch 2 ปีที่แล้ว +3

    lol I dj regularly at this bar, i was having a smoke outside and i noticed one of the bartenders also playing Axie. I told him "isn't that a dead game?" he said "yeah but its a waste if I don't play". They legitimately see it as a side hustle and no matter what amount that could be made, its still money to them.

  • @armastus1474
    @armastus1474 ปีที่แล้ว

    We filipinos need to start putting more value into educating ourselves, then protest for better actual jobs in our country and demand our leaders (from managers to govt) start assuring we can make livable wages. Putting trust in foreign employment and/or stupid game schemes like NFT’s will never get us out of 3rd world status. We were once a people of courage and strength and personal development. Now we’ve become submissive servants to leaders and foreign countries. I’m sick of the “being polite” attitude we have here and need to start standing up for ourselves.

  • @leibhagwani
    @leibhagwani 2 ปีที่แล้ว

    Cabatuan??? Or Cabanatuan??? I know Cabanatuan City, Nueva Ecija in Luzon. I'm unaware of Cabatuan in any party of Luzon.

  • @boslyporshy6553
    @boslyporshy6553 2 ปีที่แล้ว

    So its mmo market place the game?

  • @CryptoBlockchainTechnologies
    @CryptoBlockchainTechnologies 2 ปีที่แล้ว +3

    Kim Jon Ung stole all of their cryptocurrency. LMAO

    • @Von199X
      @Von199X 2 ปีที่แล้ว

      it's aobviusly a cover up lol they have to blame someone

  • @brettloeding2713
    @brettloeding2713 2 ปีที่แล้ว +1

    Talk about Splinterlands instead. That is a better example of play to earn.

  • @HouseJunk1e
    @HouseJunk1e 2 ปีที่แล้ว +1

    Whoa. GI Jane came out of retirement.

  • @willshaw6572
    @willshaw6572 2 ปีที่แล้ว +1

    SLP: Smooth Love Potion 😆

  • @Montypythonserpents
    @Montypythonserpents 2 ปีที่แล้ว +2

    Cashemon is the next axie

  • @theMasch1na
    @theMasch1na 2 ปีที่แล้ว

    So it this episode out or what?

  • @neutralgod300
    @neutralgod300 2 ปีที่แล้ว +6

    THANK YOU VERY MUCH FOR THIS INFORMATION!!!
    KEEP THE GOOD WORK!!!

  • @AmnaYousaf908
    @AmnaYousaf908 2 ปีที่แล้ว

    What is the conclusion?

  • @mercival
    @mercival 2 ปีที่แล้ว

    Why would they be hoarding their SLP, most people seem to have sold rather than hold, given the charts :). The guilt of people sitting on bags of SLP seems a bit overemphasized to me, i think many just got dollars for it along the way

  • @grouchy88
    @grouchy88 2 ปีที่แล้ว

    southpark nailed it so good: 'aaaaaand its gone'

  • @kirtonphilip1234
    @kirtonphilip1234 2 ปีที่แล้ว

    what is the game called🤔

  • @brianbiekman8805
    @brianbiekman8805 2 ปีที่แล้ว +1

    I got into an online argument with a Crypto bro who was bragging about his investment in a play-to-earn game that "pays kids in the Philippines more than their parents". When I pointed out that that was child labor, he called me close-minded and told me to stop talking to him. It was such a perfect encapsulation of Crypto evangelism.

  • @readmychannelbannerforfree792
    @readmychannelbannerforfree792 ปีที่แล้ว

    the only thing not checking out my profile does is stop your curiosity.

  • @echung168
    @echung168 2 ปีที่แล้ว +2

    Play a game because you want to. If you want to turn your hobby of gaming into your career as a content creator, then you better get good at it. But to solely make money off literally playing a game on your on free will & time, you can surely be sus of it. Aside from creators getting paid to play a game isn't necessarily about the game but about the image you put out on sponsors. If you're getting paid to play, then you're probably a game tester.

  • @derrick7648
    @derrick7648 2 ปีที่แล้ว

    This is a weird format why didn’t you just make the piece instead of having her interview the people like this?

  • @we8608
    @we8608 2 ปีที่แล้ว

    @17:55, they basically start talking about the "pump and dump" scheme.

  • @ingots4353
    @ingots4353 2 ปีที่แล้ว

    You would want to investigate old school runescape not axie for this premise.

  • @qzwx4205
    @qzwx4205 2 ปีที่แล้ว

    no matter what you buy... if you do it to eventually sell it and make money, what you have to keep in mind is that thing is only really worth what the next guy is willing to pay for it...

  • @swthihi
    @swthihi 2 ปีที่แล้ว +1

    +1 for being familiar with the similar games in the genre: Magic the gathering and Pokemon

    • @fluxophile
      @fluxophile 2 ปีที่แล้ว

      MTG and Pokemon are not even remotely in the same genre as Axie, nothing about the gameplay has any direct connection with any external financialization. You can play Magic or Pokemon with friends and not engage with the speculative secondary market at all.

    • @FarmingUnclear
      @FarmingUnclear 2 ปีที่แล้ว

      Nanovor

  • @calenhartzenberg2410
    @calenhartzenberg2410 2 ปีที่แล้ว

    What is the coincidence, because I've been getting a lot of these ads but never got the time to see if it's legit

  • @ATLTraveler
    @ATLTraveler 2 ปีที่แล้ว +1

    BTW the axie coin is down 99.99% now... glad I stay away from these stupid trends.

  • @Edweird1066
    @Edweird1066 2 ปีที่แล้ว

    As much as they say nfts, bitcoin, crypto don't have real value they used terms and words we use to describe regular money. The dollar is only worth something if you believe and it is the government's job to make you believe so it has value. So what are complaining about again?

  • @justinchin0
    @justinchin0 2 ปีที่แล้ว

    Vice news does some of the best journalism out here!

  • @zerohours.
    @zerohours. 2 ปีที่แล้ว +1

    They call it Digital Serfdom. Axie infinity actually changed it from plat 2 earn to play AND earn because of how much money people lost

  • @phamjun395
    @phamjun395 2 ปีที่แล้ว

    Yeah I love play-to-earn game. I'm currently playing The Mera - DeFi Warrior and I'll try more game in the future

  • @hewgoba
    @hewgoba 2 ปีที่แล้ว +2

    Great job Vice :)

  • @TheGameGuruTv
    @TheGameGuruTv 2 ปีที่แล้ว +1

    oh man... Gaming has gotten so ridiculous its sad

    • @elisabethholmes604
      @elisabethholmes604 2 ปีที่แล้ว +1

      yes, 2% of gaming. Real sad. You call yourself GameGuru? More like GameClown.

  • @imnot_tls5351
    @imnot_tls5351 2 ปีที่แล้ว

    1:28 caught me off-Guard

    • @rayzor536
      @rayzor536 2 ปีที่แล้ว

      lol i get u

  • @nushia7192
    @nushia7192 ปีที่แล้ว

    No dude, that's not how it works, your time is just paid due to interacting with their game as an incentive, but earning billions? nah!!~ It's like getting paid while watching an ad, but it's more fun.

  • @danishpride1
    @danishpride1 2 ปีที่แล้ว +8

    OH the irony. We have to pay to watch the documentary. Free version is just them rambling on😄

  • @Kradle
    @Kradle 2 ปีที่แล้ว

    Cyber by VICE also did a really good podcast on this. Definitely recommend!

  • @Muz710
    @Muz710 2 ปีที่แล้ว

    What is the point of this host format. Let the guys who did the story report on it. Weird

  • @nushia7192
    @nushia7192 ปีที่แล้ว

    I was an axie scholar so I played it for free, even today I still have the in-game currency(weth). I never took out a cent on this game, and people are still spending...

  • @platypus536
    @platypus536 2 ปีที่แล้ว

    Wth is this format? Why are they sitting around in the round table panel to discuss a reporting piece like a retroactive reflection? I just don’t get why they do this and don’t just report and explain their work, as if there’s any point to have an outside person running the conversation

  • @JoelRich
    @JoelRich 2 ปีที่แล้ว

    there are a lot more games coming with a similar through-line of earn money playing our game. it's a vampire attack on free-to-play games and it will work. some will be fairer, some will be malicious. be careful and take profits if you choose to play

  • @christhecryptoluver
    @christhecryptoluver 2 ปีที่แล้ว

    Great vid can you make a video of the new upcoming blockchain game legends of elumia tht ppl are taking about