NFT Games in the Philippines and How they Work
NFT Basics Before you go to NFT Games in the Philippines like "Axie Infinity," you need first to understand what an NFT is. It is an acronym for Non-Fungible Token. A NFT is a digital representation of any real-world object. Most of the time, it's art, music, videos, and sometimes valuable items. People buy and sell NFTs online, using cryptocurrencies to trade. This brings you to one thing you should know about non-fungible tokens: they're not a type of crypto. Unlike crypto, such as Bitcoin or Ethereum, you cannot exchange an NFT for something else like another NFT. These are unique. How Does An NFT Game Make Money for people? If you've been following the tech space recently, you would’ve heard the stories of people making a significant money playing NFT Games in the Philippines. Some people who lost income during the pandemic focused solely on playing these games to earn a living. So, how do these games work? If you understood the definition at the beginning of this article, you already have a basic idea. NFT Games in the Philippines such as "Axie Infinity" and "Splinterlands" allow people earn money by grooming and selling character axolotls such as Axies, which players treat as digital pets. To get started with "Axie Infinity," a new starter would have to buy at least three Axies to join the game. Due to the substantial initial cost of purchasing/borrowing/breeding Axies, in-game guilds have recently developed to subsidize players’ upfront fees or grant scholarships in exchange for their SLP profits while playing.