What is Axie Infinity?
Since the pandemic and long-term lockdowns started, many people found different kinds of hobbies by just staying at home. One of them is playing video games which is one of the well-known pastimes that boomed during lockdowns.
There has been a significant growth in the gaming realm because most people tend to spend so much time playing online games, sometimes with friends and/or family especially because there’s a new type of game that has been giving many players the opportunity to earn just by simply playing. This game is called Axie Infinity and it was created in 2018 by Sky Mavis, a Vietnamese developer. Basically, it’s a turn-based RPG that allows users to buy, sell, trade, breed, and battle cuddly digital pets dubbed as “axies”.
How does it work
Inspired by the classic Pokemon series, the game is built around non-fungible tokens (NFTs) that are called axies. These are one of the only types of NFT that can make money beyond simple price speculation. And over the past few months, they entirely prevailed in the crypto space. As a result, several news outlets reported on how the game has become a source of money for many gamers. It also provided potential investment possibilities for cryptocurrency traders.
Aside from that, Sky Mavis lets third-party developers create artwork, characters, and tools for gamers to use to enhance their gameplay experience. And according to Axie Infinity’s website, the majority of the game’s participants are college graduates, parents, and even grandparents seeking alternate sources of income during the pandemic.
How can you earn from playing Axie Infinity
The Axie Infinity’s play-to-earn mechanics has an important role with gamers especially with Filipino players. Obviously, the game is based on Ethereum and its coin, Ether. Ether can be converted into real-world cash by players.
Axies can be used in Axie Infinity Adventure Mode to combat monsters or to fight other players in the arena. A player can gain rewards in the game by fighting Axies, and these can subsequently be exchanged for real-world value. Gamers can also play and compete in battles to win leaderboard prizes.
Gamers can also mix and match different types of these digital pets in order to create the perfect team to battle other players for cryptos. Axies can even be bred to make offspring (that may result in stronger breeds) to add to a team or to sell on the marketplace. But if you want to make more money, you can level them up first so you can sell these breeds for a higher price on the marketplace.
Some players farm and collect Small Love Potions (SLPs). These SLPs are used in order to breed axies and can also be sold on the marketplace. On the other hand, other players have been lending axies to players who cannot afford them so they can try out the game. In return, those who borrow will give commission to the lenders. And this situation started the Axie scholarships. In Axie Infinity, a “scholarship” is when a manager/breeder grants a scholar a free Axie team. The scholar will then play the game on behalf of the management, earning Smooth Love Potions while getting a cut of the earnings.
What to keep in mind
The volatility of cryptocurrency is a typical criticism leveled at the game. That is why some players are concerned about the price movement since they “sync and swap” their money through Ethereum.
There is no way to guarantee a positive outcome for any investment because the price is affected by a variety of circumstances. Axie Infinity can be played and invested in, but only at your own risk. Aside from that, you should be aware of how volatile Ether is before investing in some adorable axies. Remember that Axie Infinity is a tactical battle game. This implies you must dedicate enough time to learning how it works and devising a winning strategy.
