Axie Infinity is a blockchain-based virtual world filled with ferocious, cute pets known as Axies. Because of the Play to Earn mechanism, these Axies may be fought, collected, and even utilized to win real-world cryptocurrency. Axie is more than just a single game; it’s a whole universe of games that you can play with Axie NFTs.
Axie may appear similar to Pokemon, Tamogochi, or even Animal Crossing at first sight; however, the main distinction is that in-game commodity markets are open and managed by players, enabling them to earn from what they create in the game. Axie Infinity is a huge hit, and this article will help you determine if it’s a game you should play on the NFT. Let’s start the topic “Axie Infinity: All you need to know about this game”
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About Axie Infinity
Sky Mavis invented Axie Infinity, which was inspired by Pokemon. Many of the teammates met while playing CryptoKitties, a popular NFT game. Because the value produced in games like Fortnite solely flows to the developers, Axie’s designers discovered and set out to fix a fundamental problem in the Web2 gaming paradigm. Users did not own or freely exchange in-game assets, they were only rented from the site. If an account is banned, these assets are simply erased. This hampered the potential utility of virtual worlds and left people feeling powerless.
With its Play to Earn model, Axie offers the players the keys to the virtual environment, allowing them to change the digital terrain and preserve complete control over their mathematically limited assets. It has swiftly gained a large following in developing countries such as Argentina, the Philippines, and Venezuela. In some of these locations, the Axie Universe’s economic prospects outnumber those accessible in the actual world.
How Axie Infinity Works?
NFTs are incorporated into the game’s formula. Every creature in the game is an NFT, to be precise. For fighting and conquering in the game, you collect tokens. These tokens may then be used to “spawn” monsters by combining them with other NFTs to create new monsters. Each monster is stored as a distinct item and maybe tracked thanks to blockchain. This proves that the monster was created with real-life effort and time, leading to a higher value.
The game is best characterized as a cross between Pokémon, a popular role-playing computer game, and Hearthstone, a digital collectible card game. In appearance, the gameplay is very straightforward: it entails battling and reproducing Pokémon-like playable monster creatures known as Axies.
Axie, on the other hand, maybe played in four different ways. One method is to breed Axies and then sell them to other gamers on a forum. The other way is to complete in-game objectives and fight other players in PvP (player-versus-player) combat. Players may also put their Axies, which they have bred and reared, to the test in-game.
The game’s graphical interface and general appearance and feel are rather simplistic. However, the play-to-earn feature makes it an appealing game title. Players may earn the Ethereum-based tokens AXS and SLP by fighting or breeding Axies, which can then be exchanged into Ether and spent as real-world money.
Axies are Non-Fungible Tokens
One of the primary features and, as a result, one of the main advantages of Axie Infinity is that Axies are non-fungible tokens or NFTs. To begin, an NFT is a type of digital asset that can be bought, sold, and exchanged. Many people have made money by developing, selling, and exchanging digital material based on NFT.
Notable instances are Michael Joseph Winkelmann, commonly known as Beeple’s virtual art “Everydays—The First 5000 Days,” which went for USD 69.3 million, and his 10-second film “Crossroads,” which went for USD 6.6 million. The 3D-rendered mansion model “Mars House” was sold for USD 500,000 by artist Kristy Kim.
NFT minting, which uses blockchain technology, has tokenized memes and video snippets, as well as music, digital collectible cards, and even papers. When a player possesses many Axies, though, he or she is effectively owning a collection of digital goods with monetary worth.
Runs on Desktop and Mobile Operating Systems
Axie Infinity also has the benefit of being compatible with most desktop and operating systems. It operates on Microsoft Windows, Apple’s macOS, Android, and iOS, and iPadOS, to name a few. It can be downloaded and played on PCs, Macs, Android tablets, and smartphones, as well as iPhones and iPads.
This computer game’s cross-platform interoperability makes it accessible to a wide range of people, allowing it to draw more players and extend future growth possibilities, as well as allowing the involved digital platform and blockchain economy to be sustained and expanded further.
It’s also worth mentioning that it doesn’t necessitate flagship or top-of-the-line gear. The program can run efficiently on a low-resource machine. It can, for instance, run on up to five-year-old mid-range Android smartphones as well as the most recent entry-level and cheap Android handsets in the industry.
Advantages: Axie Infinity: All you need to know about this game
Axie Infinity’s main benefit is its play-to-earn system, which is available via both mobile and desktop apps.
Users that play the game on a regular basis are rewarded with Axie Infinity Shards and Smooth Love Potion crypto assets. Users may either utilize these assets to advance their own games or trade them on secondary marketplaces to earn money while playing the game. In third-world nations like the Philippines, where about a third of the user population is from, this has proven highly profitable.
Disadvantages: Axie Infinity: All you need to know about this game
The primary drawbacks of Axie Infinity are all financial in nature. To begin with, you must have three Axies in order to play the game, which had cost you approximately $100 total when it was originally launched, but the lowest one you can purchase now is over $150 USD, indicating you will be unable to play the game unless you are prepared to pay at least $500 USD. This is a significant barrier for new players.
Another drawback is that Axies accepts only ETH or AXS as payment, and all transactions are conducted on the Ethereum blockchain, implying that all transactions on the Marketplace have a significant environmental effect.
Things to Know Before Buying Axie Infinity
Axie is a cryptocurrency game where you may earn money by playing
Playing to make money is a relatively new notion in gaming, but it’s gaining on. Gamers in these video games earn cryptocurrency tokens, which they may then sell for real money on decentralized markets.
Axies are adorable animals that players own in Axie Infinity. Each Axie is a non-fungible token (NFT), meaning it is a one-of-a-kind digital collectible. Axies may be bred and battled, as well as quests for resource farming.
Inside the game, there is a whole economy. Because the tokens are valuable, players may use them to pay for things like rent or food in everyday life.
Axie isn’t the only game where you may make money by playing
If you’re thinking about buying it now, keep in mind that there are other crypto games out there that might surpass the current frenzy. It stands out since it has had years to create the product and grow its community. The initiative began in 2017 and has just lately gained traction, which the team hopes will make it more difficult to copy.
Nevertheless, blockchain technology is quickly evolving, and every successful currency appears to be followed by a slew of imitators. With every cryptocurrency, there’s always the possibility that it may be soon replaced by something better.
In the last 30 days, Axie Infinity made more money than the top ten applications combined
Axie has made over $90 million in income in the last 30 days, as per Token Terminal data. The other top 10 applications on Token Terminal’s list totaled about $41 million at the time of publishing.
Purchases made in-game, such as land, generate revenue. Axie charges a fee for reproducing and charges a 4.25 percent fee for purchasing and selling Axie NFTs. The fact that 95 percent of its money is returned to the players is absolutely extraordinary. As we’ll see momentarily, this is why individuals in poorer nations devote so much time to the game.
One thing to keep in mind is that cryptocurrencies are not the same as equities. If you invest in stocks in a firm that generates a lot of money, you may be able to share in the profits through dividends. You do not acquire a share in AXS when you purchase it. The most common approach to profit is through increasing the price of the token.
The land auction in Axie set new records
In February, a user purchased nine pieces of land in Axie for 888.25 ETH (about $1.5 million at the time). According to CoinDesk, it was the biggest NFT sale ever at the time.
Since then, a number of multimillion-dollar NFT transactions have occurred, including Twitter Executive Chairman Dorsey’s inaugural tweet, which sold for over $3 million. This emphasizes the fact that AXS tokens weren’t the only option to invest in Axie Infinity; individuals willing to engage themselves in Lunacia may find that possessing Axies and digital land is equally beneficial.
To play the game, you’ll need three Axies
You’re most likely to acquire AXS tokens as an investment if you believe they’ll appreciate in value over time. Axie Infinity, on the other hand, is a community that invites token holders to engage rather than an investment vehicle.
Participation might sometimes be costly. The popularity of Axie Infinity has resulted in a significant increase in the price of Axies. Previously, players could start with $5 to $10. At the moment, the cheapest Axie costs approximately $200, thus gamers would need to spend roughly $600 to play. Axies have the ability to reproduce up to seven times before becoming infertile. Before you can purchase your first Axie, you’ll need 2 wallets and a small amount of Ethereum.
People are abandoning their jobs in order to play Axie
The typical user may make approximately 4,500 SLP each month, according to the Cryptoday newsletter on Substack. That would be nearly $1,500 now.
According to Axie, there are around 250,000 daily gamers. It’s a time-consuming and strategic game. Players must not only properly breed their Axies in order to acquire certain talents, but they must also accomplish missions in order to earn energy that allows them to engage further.
Some people in Thailand and Vietnam are quitting their regular occupations to devote their time to Axie. Many people have benefited from it as a side business rather than full-time employment as a result of pandemic-related economic hardships.
In a month, the price increased by nearly 600 percent, then dropped by half.
AXS increased by approximately 600% from mid-June to mid-July. On July 15, the price reached an all-time high of $29.13 before plummeting to $14.19 on July 20. AXS is rising again.
All cryptocurrency prices are unpredictable, and large price swings are sometimes caused by investors who observe a coin’s price rise and are afraid of missing out. Before you buy, make sure you conduct your research and consider Axie’s long-term prospects.
Axie is not available for purchase on any of the main U.S. exchanges
AXS and SLP are currently unavailable on major cryptocurrency exchanges in the United States, making them difficult to acquire. It is possible to utilize a decentralized exchange, but be cautious because they are not always available to US investors, and purchasing from an unlicensed exchange raises the chance of fraud.
Overall, Axie may be a fascinating character to follow. However, before you invest your hard-earned money, it’s a good idea to learn about the crypto gaming business and the play-to-earn principle.
Is it possible to make money on Axie Infinity?
By gaming Axie Infinity, you may earn crypto assets such as Axie Infinity Shards and Sooth Love Potion, basically earning money for playing games. Furthermore, the Axi market has gotten profitable enough that you may now breed and sell them to gain money. It’s worth noting that the profit margin you’d make has reduced since the prices of both AXS and Axies have risen significantly since the game’s inception, implying that early investors have the best chance of making money.
Where can we buy AXS (Axie Infinity Shards)?
Kraken, Binance, Uniswap and Coinbase
How to Buy Axie Infinity NFTs?
The easiest method to get Axie Infinity NFTs is to buy them through the Axie Infinity Marketplace, where you can also buy Axies, Land, Items, and Bundles. You can use a Ronin browser extension account to link to the global market, or you may link your Ronin wallet to a Meta Mask profile and establish an account with an email address and password linked to that web wallet.
To purchase any of the NFTs for auction on the Axie Infinity Marketplace, you must first link your wallet to the platform and then fill it with either ETH or AXS. To play the game, you must have at least three Axies, which means you must purchase them before you can begin earning.
Axie Infinity is a real play-to-earn video game that uses NFT and blockchain technologies. It has a strong digital environment and economy, as seen by the current pool of gamers and the record-breaking profits it has produced.
This game’s worth of the cryptocurrency used in-game is based on a reasonable market pricing, in addition to the aforementioned benefits. The game’s future development plans look intriguing. It’s a game-changer among the first NFT-based games, and it can certainly benefit new buyers.
People should, however, take care. Overvaluation and hyperinflation are still risks with Axies NFTs. The notion that cryptocurrencies are volatile adds to the mix. When putting real money in the game, players should consider their risk appetite.