Axie Infinity is the most famous blockchain-based game in which participants may earn money. In reality, many gamers in several nations are relying on the game to supplement their livelihood, particularly during the epidemic.
Is it, however, too good to be true? In any case, how can you make money by playing video games? However, if you did, how much money could you make? We will attempt to answer these concerns as honestly and clearly as possible in this article so that everyone can comprehend!
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Overview of Blockchain Games
To fully appreciate the potential earnings of Axie Infinity and other blockchain-based games, one must first comprehend the underlying ideals of blockchains and why it was created in the first place.
Blockchain is a technology revolution built on the principles of decentralization and transparency. Bitcoin, one of the first blockchain applications, was created to ensure that money movement is no longer controlled inside banks and financial organizations, but rather to us, the ordinary individual.
Sky Mavis, the group behind Axie Infinity, shares this aim as well. A quotation from their white paper is as follows:
Gamers in Axie Infinity are rewarded for adding to the game’s commerce. The days of giant triple-A game firms and publishers monopolizing the video game industry and raking in millions from gamers are long gone. We are currently living in the “play to earn” age, which was most likely a childhood fantasy for all of us.
What is Axie Infinity?
Axie Infinity has more daily members than any other Ethereum platform, and it has amassed a staggering 13,000 Ethereum in revenues (worth about $34 million currently). The game is based on the popular Pokemon franchise. The game is based on non-fungible tokens (NFTs) called Axies, rather than Pokemon.
Axies are among the few forms of NFTs that can profit from more than just price speculation. Mix and combine various varieties of these animals to form the ideal squad to compete for cryptos with other gamers. They can even be bred to produce progeny that you can either keep or sell on the market.
Small Love Potion (SLP) and Axie Infinity Shard (AIS) are the two native tokens that power the ecosystem (AXS). AXS will ultimately become Axie Infinity’s governance token, but for now, it’s only used for breeding Axies. SLP is also required for breeding Axies, and Sky Mavis has no plans to enhance the token’s utility.
Players earn SLP by fighting other players or computer-controlled opponents with their Axies. SLP payouts are minimal at the beginning of the game, but they gradually improve as you acquire experience and compete against stronger opponents. The game itself is really basic, and it doesn’t appear to be the major draw of the Axie Infinity environment.
Ways to Earn Money in Axie Infinity
There are various methods to profit from Axie Infinity:
- Smooth Love Potions are grown and traded in the market.
- Axies are bred and sold.
- Getting a scholarship started
- Investing in Lunacia Property
How Can You Earn Money from Axie?
You may make money in the game in a variety of ways. However, all of these solutions, with the exception of one, have high initial expenses. Playing the game is the easiest way to make money. To play the game and begin collecting SLP and AXS tokens, you must have at least three Axies.
It is possible to perform and earn SLP without possessing Axies through agreements known as scholarships. Anyone with a surplus of Axies but not enough time to play the game might employ scholars to gain SLP on their behalf.
They allow the user to utilize a squad of Axies and share the prizes according to a predetermined ratio, such as 70/30, 60/40, 50/50, and so on. Please remember that it is essentially work that will consume a significant amount of your time. Because of the fierce rivalry for these places, becoming a scholar is similarly challenging.
The most profitable method to use Axie Infinity may be to produce Axies. You’ll need two Axies who haven’t been bred in a long time. Breeding costs 4 AXS and a variable amount of SLP depending on how many times both NFTs have already been used for reproduction. It takes 5 days for the baby Axie to mature and emerge into an adult that may be employed in the game after breeding. Since these NFTs are so costly, selling them on the Axie market can net you a substantial sum of Ether.
How Much Crypto Can you Earn?
In Axie Infinity, each individual crypto-earning approach offers a broad spectrum of potential income. Based on your Axies, how longer you game, and the other incentives present at the moment, playing the game many times a day might reward you anywhere from $8 to $40 each day.
Offering scholarships may be your finest source of passive money in the game if you have a high number of Axies but don’t have the time to spend them all. You might earn 50 percent to 70 percent of the earnings your pupils produce with fair profit splits. You may have a significant passive cash stream if you have numerous scholars, each with its own set of three Axies.
Because of the huge demand for NFTs, breeding Axies may be a lot more profitable. It requires 4 AXS and 150 SLP (approximately $211 at the time of this writing) to breed a pair of Axies for the first time, plus transaction costs. Axies presently trades for no less than 0.1 Ether (about $270), therefore assuming the values of AXS, SLP, and Axies maintain around the same, there should be at least a tiny profit.
Breeding will become riskier and less economical if AXS and SLP prices continue to rise while Axie prices remain the same. By breeding a number of Axies and employing scholars to interact with them, you may combine these techniques. However, putting a substantial percentage of your fortune into the game should be avoided since if one component of Axie Infinity fails, the others might follow suit.
Risks of Investing in Axie Infinity
Investing in Axie Infinity has the potential to be tremendously rewarding, but it may also be quite hazardous. Earning cryptos in Axie Infinity entails extraordinarily expensive initial fees, with the exception of scholarships, which are incredibly rare and much sought after. At the time of this writing, a team comprising the three lowest Axies prices more than 0.3 Ether (roughly $800).
If you can only make $10 to $15 per day enjoying the game, it will need 50 to 80 days of working hard hours to cover the cost of the NFTs. Note that if prices stay the very same, you may sell the Axies later to recuperate your investment. The value of the Axies will be determined by the demand for them as well as the value of the AXS and SLP tokens. Your NFTs will probably lose value if the game has become less lucrative or popular. The tokens and Axies may become useless if the game fully fails.
Why is everyone talking about Axie?
As it can be seen, Axie Infinity has had two large price gains at a period when many other virtual currencies are either static or dropping in value.
Here are two of the primary causes behind Axie’s rapid development:
1. It is a popular Crypto Game
Play-to-earn games are a relatively recent concept in the gaming world. Axie Infinity Shards (AXS) and Smooth Love Potions (SLP) are two in-game tokens that players may spend in Axie land (aka Lunacia) or sell for real-world money on decentralized exchanges.
The Axies are non-transferable tokens (NFTs). These digital treasures held by players may be bred, purchased, and sold. Right now, the least expensive Axie on sale is roughly $200. The most valuable Axie ever sold was for 300 ETH (about $620,000 today). To participate in the game, you’ll need to purchase three Axies with Ethereum (ETH). You’ll also require a significant amount of time to devote to world-building.
2. It’s brought in High Revenue
In recent weeks, Axie’s revenue has skyrocketed. According to Token Terminal data, it is currently the highest-earning crypto app by a long shot. In the last 30 days, it pulled in $101.7 million. To put that in perspective, PancakeSwap came in second with $10.9 million.
That’s incredible. However, keep in mind that altcoins are not the same as equities. When you purchase a stock, you are purchasing a piece of a firm and may be entitled to dividends. You don’t own a share of the company when you own a cryptocurrency; you own a coin.
However, if the rates of AXS or SLP continue to grow, you may be able to benefit. Or if you play these games, as Axie distributes 95 percent of its money to players. You may also sell the Axies you have bred in the game, as well as purchase and sell land.
Players profit by gaining tokens, as we said before. Some Axie players in underdeveloped nations were able to utilize their Axie earnings to keep food on the table throughout the epidemic. Some people have even resigned their jobs to devote their complete attention to Axie.
3. A huge amount of coins look good in hindsight
It’s all too simple to play the XYZ game as a trader. You might be a millionaire today if you had bought Amazon shares or Bitcoin from the outset. However, the secret to investing is to look ahead to spot patterns that might pay off in the long run.
Crypto gaming, like the rest of the blockchain business, has a long way to go, especially in terms of scalability. It’s an intriguing field, and there will undoubtedly be more gaming currencies that make the news in the future. However, if you want to choose the winners as an individual stock, you must be connected to that environment. You might also compare the advantages of investing in cryptocurrency games vs stocks of gaming companies.
Researching crypto gaming concerning Axie Infinity can help you determine if the coin’s value may still rise. Copycats have already begun to emerge, though it’s difficult to see how they might soon duplicate Axie’s popularity. Axie already has a significant lead with over 250,000 daily users.
Finally, buying Axie now isn’t a good idea because the cost has already climbed by 21,000 percent. If you decide to purchase, you should do so because you believe it will outperform other long-term investing options.
What’s the best way to obtain an Axie?
If the Axie Lab is open, you can purchase Axies from other users on the Marketplace, or you can buy in bulk from the Axie Laboratory if it is open. You may also breed Axie eggs to make new ones.
New members will be able to begin without having to purchase Axies in advance and will get non-transferable Axies with restricted earning potential.
How to Contact Axie Infinity Customer Service?
Join the community Discord and write in the #new-player-help assistance channel if you’re having problems, and the community will gladly assist you!
How can I get Axie Infinity to work on my computer?
Step 1: To begin, download the Axie Infinity installation.zip file for PC from the link provided below.
Step 2: Choose the Mavis Hub icon from the Mavis Hub config file.
Step 3: In the login screen, choose Sign Up with MetaMask, enter your password, and click Unlock.
How do you get SLP?
On Axie Infinity, there are three methods to gain SLP right now:
- In Adventure Mode, complete all quests (PvE)
- Compete against other players in the Arena (PvP)
- Log in once a day and perform tasks to complete daily challenges.
What is the most affordable Axie?
The least expensive Axie on the market is now around $200. The most valuable Axie ever auctioned was for 300 ETH (approximately $620.000 today). To participate, you must purchase three Axies with Ethereum (ETH).
It takes a long time to make a fair profit in the game, and there are substantial initial expenditures. It also relies on the selling value of Axies. Investing in AXS might be considerably riskier because of its limited use cases and the lack of information provided by Sky Mavis regarding its tokenomics.
The core group has substantial control over the production of AXS and where it will be forwarded, at least in the next few years. Since the price grew from around $5 to $45 at the moment of typing, everyone who bought AXS in June 2021 or earlier made a huge profit. Nevertheless, if the platform loses a large number of users or fails to integrate more token uses, it may crash.