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07 August 2021

Should I invest in Axie Infinity?

Cryptocurrencies have been popular nowadays and it's very tempting to join in especially with the latest Axie Infinity. I became aware of it when I saw Marvin Germo's (a well-known Filipino stock trader) post on Facebook. 

I already downloaded the extensions like Ronin Wallet and Metamask. When I was about to buy Axie, I became hesitant after calculating the estimated cost. Imagine spending at least USD350 for an Axie. And you need 3 of it to play. Let's just say it'll cost a total of USD1,000. Then there's the gas fee which I think works like transaction fees that could range differently. My estimate cost if I'm going to start is maybe USD1,200. If I convert that to Philippine pesos, maybe around PhP60,000. And this is only the minimum, I think.

I haven't bought one since I'm still researching like how to cash in and cashout/withdraw the money, what kind of Axie I should buy, and how profitable it will be if I continue.

I know we're in a new age with crypto being introduced as a new way to invest. Well, the higher risk the risk, the higher the return. But I don't want to be stupid to just go with the crowd. Nevertheless, I see potential. But it will be quite the gamble so I'm still pondering. I thought about being a 'Scholar' but I have my day job so I won't have much time doing adventure to get SLP which means less earnings. 

So I should buy the 3 Axies then have someone do the daily adventures on my behalf. I know a guy who can do it for me so that's resolved but it's really about the cost. I should decide soon because the Axie price just might go up so it will make it even more difficult for me to join in.

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