Axie Infinity Developers “Look Forward” To Working With Governments On Play-To-Earn Games

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Axie Infinity developers were “look forward” to working with governments on play-to-earn games.

The developers of the popular play-to-earn game Axie Infinity appeared to look forward to working with governments for the proper implementation of laws as it related to play-to-earn gaming.

Axie Infinity

On Thursday, Sky Mavis tweeted that they wanted to work with governments “on a path forward that encourages innovation and empowers gamers” as play-to-earn was an “important shift in the nature of work”.

In addition, Sky Mavis urged Axie Infinity players to abide by the laws of the respective governments they lived in, adding that it was proud that Axie Infinity’s global playerbase can “buy and sell to anyone, anywhere, and earn an income through this blossoming digital economy.”

Sky Mavis’ statement followed a surge of interest in non-fungible tokens (NFTs) in the Philippines and in the Axie Infinity game in particular as a means of augmenting income.

READ ALSO: Income Derived From Playing Cryptocurrency-Based Gaming Platforms Subject To Tax — BIR

Earlier this week, the Philippine government said that earnings from play-to-earn games, including Axie Infinity, were taxable and should be declared.

According to a report on CNN Philippines, BIR Revenue Deputy Commissioner for Legal Group Marissa Cabreros said during a media briefing that Axie Infinity players with annual net earnings of PHP 250,000 or less were exempted from paying taxes.

However, the BIR encouraged eligible gamers who weren’t exempt from paying taxes to register and pay them promptly as failing to do so may lead to fines and imprisonment.

For more news and updates, you may feel free to visit this site more often. You may also visit Newspapers.ph via our official Facebook page and YouTube channel.

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