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.
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.
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 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.
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.
@@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
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.
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
"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
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.
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 :(
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.
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%?!).
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.
@@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.
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.
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 🧐
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.
@@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...🤔
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.
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
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
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.
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.
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.
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).
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 RUclipsr and go all in based on their advice.
Well normally I would agree with you but this isn't just some RUclipsr 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 RUclips and on actual TV
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
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.
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.
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.
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.
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
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.
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
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.
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
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?
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"
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 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
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!
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.
@@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
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.
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.
@@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.
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.
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 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.
@@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.
@@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.
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.
@@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.
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.
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.
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
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.
As a person who is knowledgeable in investment, I already knew this was a Ponzi Scheme. That being said, I tried to warn many people not to invest in this and they laughed at me. Look who is crying now? 😂🤣
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...
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.
I really hate that big AAA video game companies like Square Enix are trying to integrate NFTs into their games. This is garbage. NFTs as we know them are garbage. Until you can essentially live within the metaverse its all bullshit.
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
The FDIC argument at 17 min ish is a bit intellectually dishonest. FDIC only has the insurance to cover around 1% of all deposit so in case of something major everybody would loose their money still (99%)
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?
TTC NINE: Better stop short than fill to the brim. Oversharpen the blade, and the edge will soon blunt. Amass a store of gold and jade, and no one can protect it. Claim wealth and titles, and disaster will follow. Retire when the work is done. This is the way of heaven.
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.
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.
They sure worry about the poor people not being able to afford nice stuff. They don't even bring up the fact that "investors" that put up real cash to buy those NFTs are down 90% since the beginning of the year. Land investment is a huge gamble, but of course, VICE didn't even bring it up. You want to be rich? You put your money where your mouth is. If you don't have the money, then go earn it. Vice use to be about journalism. Now it's just a woke megaphone. p.s. colonialism? that's the word they used? Like those silicon valley nerds put a gun to those poor 3rd world peons to play the game? Is that what they referring to? Look, I don't know about you, but if I were to sell shoes for $1, or play a game for $0.5, I will sell shoes. Or vice versa. It's that simple. This is not rocket science here. It's a freaking game. If you don't like it, don't play. There are about 30k other games on your phone.
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
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
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.
Always love my pre-internet games, playing for fun, no updates, no in-game purchases.
Truth.
Like chess.
No dailies to do either.
sounds boring
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.
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.
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.
lol, i work in advertising and this logic makes 0 sense
@@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.
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.
@@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
Thank you for reporting on this. News companies rarely talk about exploitation, something that's poisonous to societies.
Play to earn crypto games are another word for multi level marketing.
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.
you must not have done any research, lmao.
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
@@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
"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
@@datbang5072 Because it's not gambling if there is not betting involved. You can play Axie for free.
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.
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 :(
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.
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%?!).
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.
NNK / Mir4 are way better than this sh1t game XD
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
@@レンシー-w8j imagine recommending trash mobile games
@@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 🤣
@@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.
"This is the future!"
The future is sad then
Vice should do a mini documentary about crazy predatory monetization of Diablo Immortal.
And Roblox. People Make Games made an excellent series of investigations into them, and it needs more attention.
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.
Somebody said: If you aren't paying for a product, you're the product.
I think it was about Facebook
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.
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 🧐
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.
@@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...🤔
@@thehunzz Ahhh yes man, the newer generation is always evil, that's the oldest old lady tale in the book
lmao that black dude with glasses is clearly a man of culture "yeah i played the game but it sucked so"
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.
@@jamesoctura693 You don't know when exactly this interview was done. Could easily have been while Ronin was shutdown
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
#Munecat covered this very well in one of her "deep dive" vids. I recommend watching
yoooo Munecat is where it's at :D
Dayum! Accurate reporting to the core about play to earn and NFT's! These techies wants us to live in fantasy world!
They want the people with $$$ living in it. It's just a bonus roping in anyone else.
Smh scamming got way worst.
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
@@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.
@@damoneymaker then waste your money on this stupid games bro nobody is stopping you lol 🤣
Been a fan of vice for years, definitely great journalism! Really interesting and something I probably wouldn’t normally watch.
Yeah me too. I recommend vice to others. Educates the people love your work Vice. To all the members❤ love you guys.
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.
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.
Exploitation of people with less information & resources is very, very old.
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.
they are washed and just want buzz words like nft and crypto currency to get views
Big facts here. Slept on.
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).
Came here expecting to see something about RuneScape
A comment said "A dude with a woman's voice... distracting." LMAO
NFT= quick way to be finessed
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 RUclipsr and go all in based on their advice.
You're off by about 2%.
@@fluxophile exactly 💯💯💯💯
Well normally I would agree with you but this isn't just some RUclipsr 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 RUclips and on actual TV
invest in $SCAM coin. it's legit not a scam.
@@fluxophile lol
If it sounds too good to be true, it most likely is.
The host asked some really good questions & he did a really good job!
I think it's a female.
@@cygnus-x I really cannot keep track 😉🤣 #DontKnowDontCare
Regulation won't catch up for centuries.
Kim Jon Ung stole all of their cryptocurrency. LMAO
it's aobviusly a cover up lol they have to blame someone
Life is looking more and more like a dystopian movie.
Black mirror
Keep up the great work Vice!
BTW the axie coin is down 99.99% now... glad I stay away from these stupid trends.
I am amazed that no one has built a bot to play the game for them. Lol
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
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.
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.
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.
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.
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
vice has really upped their quality as of recent, real excellent journalism!
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.
The bow was art of artefact you created?
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
got up to 136B in duel arena :D sold for 4000$ and lost the rest :D this was about 3 years ago
The sheep will be sheared… and already have. The money wasn’t stolen. It was harvested.
Facts.
No Lie I lost 3000$ in this stupid game I stopped playing 8 months ago
Cashemon is the next axie
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.
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
@@brimmed is it really THAT easy to make a bot?
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?
WEEN
The 5min YT version is just a clip of the full episode on Showtime
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"
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.
What a coincidence all the money was robbed when things were headed south.
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
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!
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.
@@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
I can't believe ppl still play that game, I miss my santa hat
Where can I watch the original doc in this video?
southpark nailed it so good: 'aaaaaand its gone'
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.
It’s a part of the block chain! everything‘s accounted for nothing bad can happen. 600million gone: welp
1:28 caught me off-Guard
lol i get u
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.
They do verbally confirm later in the video that they went to Cabanatuan.
Vice news does some of the best journalism out here!
THANK YOU VERY MUCH FOR THIS INFORMATION!!!
KEEP THE GOOD WORK!!!
Best news network literally,main stream media socks but this is realll news
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.
maybe it's running on the background, just close it if it bothers your phone that much
@@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.
someone once said that if you don't pay for a product, then you're the product.
free = free labor
@@xgold-lifeofficial7716 10000% true.
@@xgold-lifeofficial7716 Most likely they had embedded a crypto-mining service in the background. It's a problem with a lot of "free" apps
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.
Where can I find the original piece this video was talking about
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.
Why, if it pays the same or better, why?
In the philiphines it pays well
@@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.
@@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.
@@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.
@@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.
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.
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.
@@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.
It's just concentrating wealth into a few hands ...
so... capitalism with extra steps?
that is not the point
@@theslayzinn it never is, but that's always what winds up happening.
@@FarmingUnclear more like corruption.
You would want to investigate old school runescape not axie for this premise.
Krishna & Samir from Colin & Samir have the same voice.
@17:55, they basically start talking about the "pump and dump" scheme.
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.
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.
RMT or real money trading in conventional mmorpgs a fully and completely illegal. And you can't cash out your wasted time in-game.
oh man... Gaming has gotten so ridiculous its sad
yes, 2% of gaming. Real sad. You call yourself GameGuru? More like GameClown.
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
SLP: Smooth Love Potion 😆
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.
Great job Vice :)
As a person who is knowledgeable in investment, I already knew this was a Ponzi Scheme. That being said, I tried to warn many people not to invest in this and they laughed at me. Look who is crying now? 😂🤣
Hello vice news why you guys doesn't cover story about Myanmar?
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...
Money laundering has come a long way.
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.
AMC & GME 🚀🚀🚀🚀🚀
Cyber by VICE also did a really good podcast on this. Definitely recommend!
I really hate that big AAA video game companies like Square Enix are trying to integrate NFTs into their games. This is garbage. NFTs as we know them are garbage. Until you can essentially live within the metaverse its all bullshit.
It's becoming more popular in Africa (Kenya) to
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
How come you guys didn't invite Christopher Natsuume? You keep loosely quoting him.
The FDIC argument at 17 min ish is a bit intellectually dishonest. FDIC only has the insurance to cover around 1% of all deposit so in case of something major everybody would loose their money still (99%)
Anyone else hear a smoke alarm going off every once in a while during this video?
No
@@Vergil4093 must have just been a stroke then
This is a weird format why didn’t you just make the piece instead of having her interview the people like this?
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?
I’m surprised Vice did not do a report on RuneScape and how people literally play all day to earn an income.
Huh? That's a thing?
TTC NINE: Better stop short than fill to the brim. Oversharpen the blade, and the edge will soon blunt. Amass a store of gold and jade, and no one can protect it. Claim wealth and titles, and disaster will follow. Retire when the work is done. This is the way of heaven.
Its a scam!
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.
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.
Heavy Gratitude
The world is a scary place today.
Better hide your kids, hide your wife
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
The reporter hosting the chat is trying too hard, questions don't need to be so forced
Masculinity is toxic as a mf. That's why. 🥹
Vice news reports Play to earn Games, meanwhile youtube advertising Zupee ludo game (also an online gambling game) 😆😆😆
is the game available in the US?
They sure worry about the poor people not being able to afford nice stuff. They don't even bring up the fact that "investors" that put up real cash to buy those NFTs are down 90% since the beginning of the year. Land investment is a huge gamble, but of course, VICE didn't even bring it up.
You want to be rich? You put your money where your mouth is. If you don't have the money, then go earn it.
Vice use to be about journalism. Now it's just a woke megaphone.
p.s. colonialism? that's the word they used? Like those silicon valley nerds put a gun to those poor 3rd world peons to play the game? Is that what they referring to? Look, I don't know about you, but if I were to sell shoes for $1, or play a game for $0.5, I will sell shoes. Or vice versa. It's that simple. This is not rocket science here. It's a freaking game. If you don't like it, don't play. There are about 30k other games on your phone.
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
Sorry "North Korea" took all your crypto! /s
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
When you have to try and convince that your "money" is legit. Your more of snakeoil salesman.
Ill pass on this. No thank you
Wealth extraction has never been any easier than a click of a button
+1 for being familiar with the similar games in the genre: Magic the gathering and Pokemon
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.
Nanovor