Are Play To Earn Crypto Games a Ponzi Scam?



Are play to earn crypto games like Axie Infinity a ponzi scheme or pyramid scheme? In this video we break down what a ponzi scam is and answer the question about blockchain games legitimacy.
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0:00 Intro – Are Play to Earn Games a Pyramid a Scheme?
0:55 Definition of a Pyramid Scheme / Ponzi Scheme
2:25 Do games add value to players? Yes.
5:55 History lesson – a real Ponzi scheme
12:59 When people question a pyramid scheme, that’s when it collapses
14:12 Conclusion – It’s clear play to earn games AREN’T Ponzi Schemes
15:41 Final example – How blockchain game economies work
18:35 Outro – Thanks for watching!

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49 thoughts on “Are Play To Earn Crypto Games a Ponzi Scam?

  • April 8, 2022 at 8:54 pm
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    In this video I learned that I hate the word "value", so thanks for that. Also, the bit "getting nothing in return" is so philosophically and epistemologically true and so full of wisdom that I had an awakening experience where I realized that fun sucks, enjoyment is an illusion, laughing is for losers, human connection is a hoax and that I don't exist and we are all imagination of ourselves. Thanks man, really life changing stuff, non biased, quality content here.

    Reply
  • April 8, 2022 at 8:54 pm
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    he forgets the fact nobody play p2e because of gameplay
    we play because money
    and yes it's ponzi
    just be honest dude
    we are playing zero sum game here

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  • April 8, 2022 at 8:54 pm
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    lol, who exactly is playing axie infinity for fun?

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  • April 8, 2022 at 8:54 pm
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    I'm playing Defi warrior game – they have 9 ways to earn income in game and dope gameplay too!
    Each warrior represent one crypto coin fighting in their own league (the blockchain that coin is based on). Supposed to fight cross league soon too! Cool concept!

    Reply
  • April 8, 2022 at 8:54 pm
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    i also thought about your last example but even that does not stand upright, because in the real world economy everyone needs to reuse all the money they got to improve their lives, but when it comes to a game, yes someone would mine metal and sell it to a forged person but at the end of the day both of those guys will be withdrawing money from the ecosystem to the real world and that is when it inevitably beaks

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  • April 8, 2022 at 8:54 pm
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    i disagree a 99.9% of people want their money and some on top of it, which is impossible, people buy axie and get slp in return for playing. the money coming out cant be greater than the money coming in from all investors, and so it is not possible for every person to win if the last investors do not lose money

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  • April 8, 2022 at 8:54 pm
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    2021 the year of Ponzi schemes

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  • April 8, 2022 at 8:54 pm
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    play to earn games are a mix of ponzi and pyramid. If no new investors/players enter, no rewards will be available to current players. The economy of those play to earn games will also collapse if there are no new investors.

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  • April 8, 2022 at 8:54 pm
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    Sorry bro. Sure the game itself isn't a Ponzi scheme, but the tokenomics of the game itself is. Once less and less new players enter the game and the existing player base starts selling their coins, this is where the Ponzi scheme rears its ugly head. As long as these greedy game companies insist on making up worthless tokens for the players to buy and sell, this Ponzi problem won't go away. It's actually basic supply and demand economics.

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  • April 8, 2022 at 8:54 pm
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    Well done, bro!!!

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  • April 8, 2022 at 8:54 pm
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    Good video bro!

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  • April 8, 2022 at 8:54 pm
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    One day All will be blast and many people will lost big money

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  • April 8, 2022 at 8:54 pm
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    Name me one person, that plays Axie for consumption of the actual game, and not based on assumptions of price appreciation.

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  • April 8, 2022 at 8:54 pm
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    no new money or new players coming in. The game is dead. its qualify for a ponzi pyramid scam. I am from VN and I have seen many ways ppl can think of to create a Ponzi scheme. Axs to me is a new concept of the old ponzi pyramid scheme.

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  • April 8, 2022 at 8:54 pm
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    Ponzi and pyramid are different. The effects are the samw but they are different.

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  • April 8, 2022 at 8:54 pm
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    It is though. Hahaha!

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  • April 8, 2022 at 8:54 pm
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    Axie just robbed poor players who could only afford floor axies. Scamy for sure.

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  • April 8, 2022 at 8:54 pm
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    If its economy is not dependent on new player's money, then why dont they offer free version to play the game?

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  • April 8, 2022 at 8:54 pm
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    Eutaria is a play-to-earn game, late comers will not lose because the rewards is not crypto token but in-game currency with fixed value (1 USD) that can be converter to BNB if claimed.

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  • April 8, 2022 at 8:54 pm
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    sir plssss take me tobe scholar to axie

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  • April 8, 2022 at 8:54 pm
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    Although I agree with this reasoning to a degree, the problem with it is that many people (probably 90%+) don’t play Axie Infinity for fun like they would something like GTA V. They play it to earn. If 100% of people played it to earn, it would qualify as a Ponzi according to your definition. If it’s only 95% then maybe not? I don’t know. It’s hard to draw the line here

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  • April 8, 2022 at 8:54 pm
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    and he got paid to not talk that is scam xd

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  • April 8, 2022 at 8:54 pm
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    The federal reserve is another important sounding private business.

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  • April 8, 2022 at 8:54 pm
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    I think a pyramid scheme can add value. The ultimate factor being that 'new value must pay for previous dues'. There are a few other characteristics but the point is many blockchain projects are pyramid schemes. Especially meme coins.

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  • April 8, 2022 at 8:54 pm
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    Hey, unrelated question. Just started a new Town Star week, and noticed that I have 999 gasoline. No information on this that I can find, and I don't know if I should play based on this number, or if my gas is going to evaporate soon.

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  • April 8, 2022 at 8:54 pm
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    Ponzi is different from Pyramid afaik

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  • April 8, 2022 at 8:54 pm
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    The games look like shit

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  • April 8, 2022 at 8:54 pm
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    The biggest Ponzi scam that is legal is Social Security System.

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  • April 8, 2022 at 8:54 pm
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    The best test to check if a game is sustainable is if the number of players has stopped growing will the remaining players continue playing and of course pay (or the game gets it revenue from ads).

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  • April 8, 2022 at 8:54 pm
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    Lost relics thoughts on it?

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  • April 8, 2022 at 8:54 pm
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    This Ponzi scheme sounds like the assigned values set by whales on collectible NFT's.

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  • April 8, 2022 at 8:54 pm
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    game creators do add value to people, but gamers don't. That is why "play to earn" is a total bullshit

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  • April 8, 2022 at 8:54 pm
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    Thanks for the click bait. Simple answer is no, DYOR.

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  • April 8, 2022 at 8:54 pm
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    Saying it's not a ponzi scheme because it adds a very small amount of actual value is just semantics. Ok, it's 99% a Ponzi scheme and 1% added value. So people will lose 99% of their money instead of 100%.

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  • April 8, 2022 at 8:54 pm
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    The litmus test question to ask is “would anyone play this game if they weren’t paid for it?”, if the answer is “yes” then it’s not a Ponzi scheme.

    Reply
  • April 8, 2022 at 8:54 pm
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    Legit history lesson. Awesome!

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  • April 8, 2022 at 8:54 pm
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    SOUNDS REALLY LIKE ADA HAHAAH

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  • April 8, 2022 at 8:54 pm
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    My response to these is simple. As an axie manager, I Pay for the axie. My scholars just play and earn. I am the only one spending their money, therefore it cannot be a ponzi scheme

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  • April 8, 2022 at 8:54 pm
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    Most popular pyramid schemes. Insurance companies ? 🙂

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  • April 8, 2022 at 8:54 pm
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    😊😊😊❤️

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  • April 8, 2022 at 8:54 pm
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    Awesome content and explanation 🙂

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  • April 8, 2022 at 8:54 pm
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    Yes it’s has a pyramid ‘style’ – but it’s not a scam.

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  • April 8, 2022 at 8:54 pm
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    I love ponzi schemes

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  • April 8, 2022 at 8:54 pm
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    So amway = real value…

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  • April 8, 2022 at 8:54 pm
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    Of course they are…. its the very definition of a pyramid scheme… new members pay old members… until it's completely worthless to be the new member….

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  • April 8, 2022 at 8:54 pm
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    Many of these early NFT games are over hyped PTW cash grab clones and will fail.

    Reply

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