Axie Infinity is a blockchain-based, Play-to-Earn game developed by a Vietnam-based company named Sky Mavis.
The goal of this gaming project is to change the dynamics of the existing gaming industry. In the traditional gaming market, most players are just wasting their time because they don’t get anything in return.
Only the professionals get to participate in the gaming tournaments that actually pay for their skills. And sometimes, it may take years to become a professional in a particular game.
Similarly, the game developers have to share their earnings with the third-party platforms where they publish these games. In most cases, these third-party platforms take 50% of the income from the developers. In blockchain-based gaming, the developers have complete control of their earnings.
Thus, they can use a portion of their income to reward the players who are spending time on their gaming platform. Axie Infinity is following this concept to distribute rewards among users who are playing this game.
What is Axie Infinity and How does it Work?
Axie Infinity is a community of digital pets where users buy different creatures called Axies. The users can then take these Axies to the battles or they can breed them with other Axies.
Although the game has an 18+ age rating, there isn’t any clear age verification process. Thus, anyone can play this game. And the game is quite popular amongst youngsters because it has a Pokemon-style design. However, the parents must avoid giving access to their kids because there’s real money involved.
Axie Infinity is developed on Ethereum’s smart chain. So, the users need to buy three Axies using Ethereum Tokens. On average, it costs around $1,500 to buy 3 axies. The users need to transfer their crypto tokens to Ronin Wallet, a digital wallet developed by Sky Mavis. They can then link this wallet to Axie infinity to purchase the axies.
What are Axies?
An axie is a gaming character available in the form of an NFT (a non-fungible token). The users get the ownership rights of an axie once they purchase it from the marketplace. They can then use these axies to participate in the battles or they can sell them on the NFT marketplace.
They can also increase the value of their axies by breeding them with other axies within the platform.
Axie Infinity Tokens
The users can use their axies for battles, breeding, exploring, and more. They get to earn Axie Infinity tokens while performing these tasks.
SLP Token
SLP (Smooth Love Potion) is the most popular asset of this gaming project because users receive this token as a reward when they win a battle. They can then trade the SLP token on Katana, a decentralized exchange developed by Axie Infinity, or they can use it to breed their Axie creatures and sell them on the Axie Infinity Marketplace.
The problem with the SLP token is that it has an unlimited supply. Therefore, its price is continuously declining since its launch on different exchanges.
AXS Token
AXS is an ERC-20 utility token that is rewarded to the players who show an excellent performance throughout the 19 seasons of the game. The users can also swap their SLP tokens for AXS or they can sell their axies for AXS tokens in the Axie Infinity Marketplace. The AXS holders can stake their tokens to earn further rewards.
Similarly, they have governance rights in the axie infinity platform. Unlike SLP, AXS tokens have a limited supply of 270 million tokens. Therefore, they have more value within the platform.
The Axie Infinity Land
Axie Infinity has a virtual universe known as Lunacia. It consists of virtual pieces of land that can be purchased through Axie Infinity Marketplace. The users can either lease or develop these pieces of land within the game.
This part of the game is currently under development. But the investors are already preparing for buying these pieces of land.
Managers and Scholars Scheme
The developers have introduced the managers and scholars scheme for the users who want to participate in the game but don’t have enough money to buy the axies. Under this scheme, the users who have a large number of Axies (the Managers) can lend their axies to the users (the Scholars) who can’t afford to buy them.
The scholars then play the game to earn SLP and AXS tokens using these axies. The managers can take a cut of 10-60% from their earnings based on the terms they agreed upon while borrowing axies. The managers and scholars can also team up with other participants to form a guild. Thus, they get to participate in bigger challenges.
How to Play Axie Infinity – How to Make Money with Axie Infinity?
The users are required to create an account on Metamask and then connect it to Ronin Wallet. After transferring their Ethereum tokens to the Ronin Wallet, they can purchase Axies from the Axie Infinity marketplace. It’s important to look at HP (Health Points), Speed, Skill, and Morale when purchasing an axie.
The users can download the Axie Infinity game from Google Playstore or App Store on their smartphone.
Playing Axie Infinity
From the home screen, the users can choose to play in Adventure or Arena Mode. In the adventure mode, the participants are required to defeat the monsters spread out in 36 levels called Ruins. By completing this task, the users can earn around 50 SLP tokens a day.
Farming is a popular way to earn SLP in this game. The users can win up to 25 SLP tokens by winning 5 battles in Arena Mode and 10 battles in Adventure Mode. The users can claim their SLP tokens from the Quests section after completing these tasks.
In the Arena Mode, the players fight against other players on the platform. And rewards are distributed based on the MMR (Matchmaking rating) of the players.
How to Breed Axies?
An axie can be bred seven times and the Axie platform charges SLP and AXS tokens for breeding the axies. The users need to visit the Axie.tech to start the breeding process. The fee for breeding increases depending on how many times the axie has been bred. However, the value of the axie can also increase after breeding.
Conclusion
Axie Infinity is like other digital games the users play on their smartphones. The only difference is that it pays rewards for the time spent on its platform because it’s a blockchain-based game. The users can earn these rewards by winning the battles/breeding their axies. We’ve shared detailed information about how to earn money with Axie Infinity. Feel free to reach out to us if you still have any questions about this blockchain-based game.
