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Like other country's phillipnes right now is struggling a lot because of the pandemic covid19. Manny of the stablisment are no choice but to closed their shop because of financial problem. And because of that many recidense of ph has lost their job and struggle to earn money for their living. Manny succumbed to total depression and much worst lose their hopes.
And then miracle happen. They discover NFT games and it potential earning buy playing. Axies Infinity, MyDefi pet are the most popular NFT games in the philipppines right now. This NFT games help some of the struggling citizen of ph to earn money for their living and generate a income that provide them food for their family and pay for their bills. Some dedicated player generate higher income that makes them extremely rich in the process. And this how the Goverment of the Phillipines seek this opportunity to put tax on the NFT games special on the most popular once like Axies Infinity. The news about the taxation on axie infinity spread like wild fire on all social media platform in the ph. Lots of axie and nft gamers in ph become outrage because of this news. Some are questioning the BIR (Bureau of Internal Revenue) on how they gonna put tax on NFT games like axie infinity. Knowing that NFT ganes and its currency is decentralised and volatile. However, SKY Mavis the creator of axie infinity said on their tweeter that the they will comply of the taxation rule in the philippines and also they encourage their game users to follow the rule of their own country.
Today this issue on the taxation of axies infinity is the main topic of many online forums in the ph specialy on social median flatform. Generating lots of debates among NFT gamers and Crypto enthusias on what will might happen to the future of NFT gaming in the phillipnes.
