Photo: AFPThe dangers of this speculative ecosystem, and the largely unregulated crypto gaming industry, were brought into sudden focus last week when Axie Infinity was hit by a US$615 million heist. “The trade-offs we made maybe weren’t the ideal ones.”The hack, one of the biggest crypto heists ever, shone a light on play-to-earn games, a young world largely unknown outside crypto and gaming circles, that is becoming big business. Although demand has cooled since peaking in November last year, gaming NFTs have still racked up US$484 million in sales so far this year. Thitadilaka said that his guild, GuildFi, grew into a network with 3,000 Axie Infinity players who split their earnings with the asset owners 50-50. Teriz Pia, who is 25 and lives in Manila, quit her job as a preschool teacher in June last year after her brother founded a play-to-earn gaming guild, Real Deal Guild.

Source: Taipei Times April 10, 2022 01:13 UTC