Is DeFi Rewriting Wall Street Into a Code?

Is DeFi Rewriting Wall Street Into a Code?

In a normal world, you would expect everyone to earn money based on the work they do that is needed by others and that others are willing to pay for, something along the lines of economics 1.0, i.e., “making an economic contribution.”

However, people in the Philippines and Vietnam are leaving their day jobs to play a blockchain game.

“It sounds shocking and maybe even funny, but this is the reality: An average player can earn around…$1,200. As a result, people in countries like the Philippines and Vietnam are quitting their day jobs to dedicate themselves to playing Axie,” writes Evan Luthra for CoinTelegraph. “When players play the Axie Infinity game, they earn the native token Small Love Potions (SLP), and these tokens are needed by the players to breed new Axies, which are charged by Axie. Axie also charges a 4.25 percent fee for buying and selling Axies on the platform. Players can also decide to sell SLP tokens to other players on an open marketplace if they decide to cash out these tokens.”