A 22 year old bought two houses with video game money and accidentally broke the Philippine economy.
> The game was Axie Infinity.
> Players battled cartoon monsters to earn a token called SLP.
> At peak, SLP was worth $0.34.
> Regular players were earning $155–$195 a month
> More than half a full-time salary.
> The best managers running teams of players were clearing $20,000 a month from a phone.
> 2.7 million people were playing daily.
> Half of them in the Philippines.
> People quit their jobs and pulled their kids out of school.
> Families were living entirely off SLP.
> The 22 year old posted a selfie outside his two new houses on Facebook and the government saw it.
> They immediately declared in-game earnings taxable income.
> Players were ordered to register as taxpayers and report their winnings.
> Then SLP crashed 99% in six months.
> The government was drafting tax legislation for an economy that had already ceased to exist.
> Families had nothing to go back to.
A video game built a taxable economy of millions, triggered a national tax crisis, and collapsed before the government collected a single peso.
4 YEAR CYCLE ALONE DOESNT MEAN ANYTHING
MONETARY POLICY ALONE DOESNT MEAN ANYTHING
COMBINING THE TWO AND THE ANSWER BECOMES OBVIOUS
TODAY WE START THE BIGGEST PUMP WEVE EVER SEEN IN OUR LIVES
TRUST ME ON THIS