Axie Infinity – A Revolution in the Cryptocurrency Gaming Arena
Axie Infinity stands out as a pioneering play-to-earn venture, utilizing the robustness of Ethereum along with its unique sidechain, Ronin. Marking its presence as the most rapidly expanding blockchain-based game, it's a rare gem that has successfully integrated non-fungible tokens, a milestone in the digital currency landscape.
Witnessing a meteoric rise in its user engagement and acclaim, Axie Infinity's innovative play-to-earn model is paving the way for a consistent crypto income for a multitude of enthusiasts globally. But the question lingers: how does one tap into the potential profits with Axie Infinity? We are here to discover this and show you the basics of the game.
Interesting Fact: Axie Infinity became the first Play to Earn game to surpass $1 Billion in Transactions.
What is the Economy of Axie Infinity?
In the Axis universe, players can choose between two gameplay options - Adventure and Arena. In Adventure mode, players embark on missions, battling various creatures on the map. Daily, there are new quests and monsters. By conquering these challenges, players can acquire an average of 50 SLPs, which will be discussed later.
On the other hand, if players opt for the Arena mode, they'll face fellow players, each equipped with distinct axes possessing unique abilities. In this mode, players team up, and upon victory, the rewards are divided based on each player's input in the fight.
Smooth Love Potions (SLP) – Game Token
The fundamental pillar supporting Axie Infinity's economic structure is the SLP token, a significant component in the crypto gaming domain. What makes SLP tokens invaluable is their necessity for breeding new Axies, ensuring their consistent demand. At present, their market value hovers around $0.001. Notably, players can accumulate SLP tokens merely by engaging with the game. This underlines Axie Infinity's authentic play-to-earn model. In essence, gamers carving out a crypto income for themselves monthly are largely doing so through the trade of SLP tokens in this digital currency realm.
Committing a few dedicated hours daily can potentially yield up to 5000-6000 SLP. So, for a diligent player putting in 21-30 days, the potential crypto income could range between $200 monthly. In emerging economies like the Philippines, India, Venezuela, Brazil, and Indonesia, such an income surpasses standard minimum wages, making it a tempting proposition. This economic incentive has caused a surge in the game's popularity in these locales. Plus, with the added advantage of Axie Infinity being genuinely enjoyable, it's a win-win: immerse in a hobby and earn digital currency on the side. Why not seize this dual benefit?
AXS Governance Token
Another crucial crypto token integral to Axie Infinity is AXS, an abbreviation for Axie Infinity Shards. This token serves as a governance tool within the game. Predominantly, AXS is employed as the primary digital currency for transactions in Axie's NFT marketplace. This includes purchasing Axies, availing upgrades, acquiring in-game assets, potions, and a plethora of other items.
At this juncture, land acquisition forms a significant chunk of the NFT marketplace's transaction volume. Additionally, users should anticipate marketplace fees denominated in AXS. Industry speculation suggests that these fees might eventually finance tournament prizes and benefits for those staking their tokens, further enhancing the crypto income potential for dedicated participants.
In forthcoming scenarios, AXS token holders are poised to have the privilege of staking their AXS to actively partake in pivotal protocol decisions, all the while reaping rewards.
Armed with this foundational understanding of the game's economic matrix, let's navigate the optimal strategies to maximize crypto income while indulging in the captivating world of Axie Infinity.
What are the ways to earn money playing Axie Infinity?
Player or Scholar – Playing Axie Infinity
To embark on the path of accumulating SLP tokens within the game, it's a prerequisite to have a minimum of three Axie NFTs in your arsenal. Given the game's soaring popularity, it's no surprise that the cost of Axies has witnessed an upward trajectory. A quick glance at their trading patterns on Opensea can provide insight.
In essence, the scholarship program allows you to utilize three Axies without the need for outright ownership. It's akin to a lease or franchise model in traditional business terms, where the SLP earnings are split between the scholar and the Axie owner. To illustrate, if you're the proprietor of the Axie assets, you're entitled to the full 100% of the SLP rewards. On the other hand, scholars, owing to the fee structure, typically receive between 70% to 90% of these rewards. The exact split hinges on the contractual terms negotiated between the participant and the Axie owner, often facilitated by their scholarship managers.
Scholarship Manager – Middleman in the Axie Infinity Game
Within the vast universe of Axie Infinity, some stakeholders possess extensive portfolios, boasting hundreds of Axies. Naturally, managing such a sizable inventory surpasses the capabilities of a single individual. This dynamic has paved the way for the emergence of the Scholarship Manager role. These individuals bridge the gap between Axie owners and scholars, streamlining the crypto income process.
Axie owners, driven by maximizing their returns in the form of SLP, are keen on ensuring their Axies yield the highest SLP earnings possible. This necessitates equipping scholars with optimal in-game strategies and methodologies. Scholarship Managers play a pivotal role here, ensuring that the scholars are well-versed with the best tactics to reap maximum benefits in the digital currency landscape of the game.
Scholarship managers typically emerge from the pool of seasoned Axie Infinity players, individuals well-versed in the game's intricacies. Their expertise positions them uniquely to mentor scholars, guiding them to maximize their crypto income through SLP earnings. A manager, on average, could be overseeing the gameplay strategies of 10 to 20 scholars. In return for their guidance and support, they typically claim a commission ranging between 5% to 10% from the scholars' total earnings.
For those feeling the fatigue from the relentless daily gameplay, transitioning to a scholarship manager role can be a refreshing change. Not only does it allow continued monetization within the Axie realm, but it also offers a more strategic and mentorship-focused approach. This role is particularly opportune for those with connections to Axie owners boasting extensive collections, presenting a lucrative avenue to enhance one's crypto income in the vibrant world of digital currencies and Axie Infinity.
If you're an Axie owner, the vibrant ecosystem of Axie Infinity presents multiple avenues to amplify your crypto income.
- Breeding and Flipping: One of the primary strategies are breeding Axies and subsequently listing them on the NFT marketplace for a profit. However, this isn't as straightforward as it sounds. A comprehensive understanding of the myriad traits that Axies possess is crucial. Knowledge of these traits helps ascertain the rarity and consequently the price of each Axie. It's advisable to immerse oneself in the gameplay initially to grasp the nuances better.
- Scholarship Accounts: Basically, you are loaning out your Axies, then the one who will rent it, has to pay you upon-agreed fee in SLP and return your Axie.
Scholarship Programs: The concept is akin to creating job opportunities in the digital realm. By lending out Axies, owners enable other players to participate in the game without the initial investment of purchasing Axies. In return for this loan, owners receive a portion of the scholars' earned SLP.
Passive Income Stream: For those who own a vast number of Axies, this strategy effectively translates to a steady and passive crypto income stream.
This approach not only guarantees returns on idle assets but also fosters a sense of community by aiding aspiring players to venture into the Axie Infinity universe without the upfront digital currency investment.
Breeder (Minting) – Creating Axie Infinity Characters
While at first glance, breeding might seem akin to simply owning Axies, the nuances make a world of difference. Breeders delve deeper into the intricacies of the game, often maneuvering through a maze of tokenomics, costs, and game dynamics.
Breeders vs. Owners: Some Axie owners steer clear from the breeding dimension, deterred by the associated fees. They opt to procure Axies directly from the marketplace, bypassing the breeding process altogether. In contrast, breeders not only engage in creating new Axies but also grapple with the fluctuating prices of AXS and SLP, the game's native tokens.
Challenges of Breeding: The life of a breeder in the Axie community isn't a walk in the park. Beyond the token prices, they also need to factor in transaction costs when introducing a new Axie into the ecosystem. Each Axie comes with a limit – they can breed a maximum of seven times. And with each breeding attempt, the associated fee escalates.
Axie Infinity – A Blockchain-based game with earning possibilities
Axie Infinity, a blockchain-based game, offers diverse income avenues through its tokens, SLP and AXS. Players can earn by playing, while breeders can earn through producing new Axies. However, breeding involves costs and token price navigation. For newcomers, initial costs can be bypassed through the scholarship program, where Axie owners loan out their creatures for a shared profit.
Additionally, scholarship managers act as liaisons between owners and players to maximize earnings. The game's design ensures a constant demand for its native tokens, making it a lucrative venture in the cryptocurrency realm.