Axie Infinity playfully rewrites gig work in SE Asia- The Ken Southeast Asia

Play-to-earn game Axie Infinity has exploded in the Philippines and other countries where players can earn more than regular employment. Gaming guilds like YGG are offering scholarships for gig workers to get in—but this blockchain-gaming model must first prove it isn’t a fad

Axie Infinity players have earned over US$1 billion in crypto tokens just from playing battles with its cute characters

But the cost of entry has risen, and gaming guilds, like Yield Guild Games (YGG), have formed to offer financial assistance for talented gamers

YGG has tens of millions in assets and plans to grow its reach across other games and offer financial services in the future

But first Axie Infinity must prove it can last and build appeal for ordinary gamers—the games industry is watching closely

If you could earn 5X of your monthly income by playing a game, would you? Not only do such games exist in Southeast Asia, but they could also be changing the future of gaming—and gig work—around the world.

The proof of the pudding lies in the VC investment pie, and San Francisco-based Andreessen Horowitz—known as A16z—made a rare Southeast Asia-based investment this month. The VC—which counts WhatsApp, Instagram and Stripe among its portfolio—chose to back Yield Guild Games (YGG), a Philippines-based startup formed in December 2020 that runs a community of 45,000 gamers, as part of a US$4.6 million deal.

AUTHOR

Jon Russell

Jon Russell is Southeast Asia editor for The Ken based in Bangkok. Originally from the UK, Jon moved to Thailand in 2008. He’s passionate about telling thoughtful business stories, and tracking the impact of the internet in his adopted home of Southeast Asia.

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