After the initial excitement, many people now have a negative view of GameFi and the ‘play to earn’ movement. Many questions have been raised about the new model.

Seeing the success of Sky Mavis, whose GameFi (Game + Finance) can attract a capital investment of US$3 billion, other Vietnamese game developers have introduced similar game projects lately.

Vietnam’s blockchain game projects are gaining popularity, attracting millions of US dollars from international investment funds – but ambiguous laws may prevent the sector from expanding as fast as it could otherwise.

CEO Nguyen Thanh Trung said that he is not a dollar millionaire, explaining that the market capitalization of AXS tokens is different from the capitalization of Sky Mavis.

In some Southeast Asian countries such as the Philippines and Malaysia, many people have had a stable income during the pandemic for two years now, thanks to Vietnamese games.

An Axie Infinity gamer sold his virtual land plot for 550 Ethereum, or $2.5 million, several days ago. This was one of the most expensive land plots ever sold in the cryptocurrency market.

In just a short time, Vietnam's blockchain game Axie Infinity has grown tremendously, becoming a new phenomenon in the world gaming industry.