There is a movement going on in the gaming and technology sphere, and i assure you, you don’t want to miss it!
Join the Play to Earn Revolution
Disclaimer: This is not financial advice, blockchain and cryptocurrency are risky, please do your due diligence before committing to it.
What is Axie Infinity?
Axie infinity is a monster collecting game, that is inspired by Pokemon. At least that’s what the makers of the game says, and I agree with that. Players can collect, breed and most importantly battle their Axies (this is what we call our cute monsters). This is where it resembles Pokemon.
Apart from the Axies, you can also own lands, items and currencies within the game.
Axie Infinity and blockchain
What’s cool about Axie Infinity is, it uses the blockchain technology to power their game. That means it lives on a blockchain, specifically Ethereum! Each Axie is minted (created) as ERC tokens. Tokens are unique when minted and the Ethereum smart contracts ensures that. This combined with the fact that some Axies have rare features, it creates collecting factor that a lot of collectible game does. And since Axies are on Ethereum blockchain, we definitely can sell our tokens earn the sweet ETH. Thus, the Play2Earn revolution was born!
So, how can you earn from playing the game?
There are many ways to earn in Axie Infinity. When I say many, I mean MANY.
You can farm SLP
SLP or Small Love Potions is something that you earn by winning battles in game. SLP are mainly used for breeding, however the community realised that it is very much a commodity and got it listed on Uniswap. And there the magic happens, you can swap SLP for ETH, AXS or pretty much any tokens available.
Trading Axies in the Market
There is a proprietary market made for players to buy and sell Axies. And where you can trade, there’s always money to be made.
The only way we can have more Axies is by breeding them. And I believe there is a lot of demand for Axies for many different types of players. There are new players who’ll need at least 3 Axies to start playing. There are battlers who constantly want to update their collection to keep up with the Arena meta. There are collectors who collects rare Axies. Breeding Axies is here to stay!
As I have mentioned before, there are a handful of rare Axies and items in the game. Some players hold them for a period of time. With scarcity and demand, the price may go up. However, with every investments, there is always a risk of the prices could go down.
Another way to invest is by owning lands. There will be a land play in the future, and the game makers have decided that they should be player owned. What’s better, there is a limited number of lands available. When land play eventually arrives, there will be demands for them… and because the supply is limited, the price will eventually go up
While Axies Infinity is touted as Play2Earn game, it’s not free to play. You’ll need to have at least 3 Axies in order to start playing.
Some players with a lot of Axies sees this as an opportunity. They would lend you their Axies so you can start playing, FOR FREE. You can start farming SLP and hopefully, eventually, you would have enough to convert them into ETH to buy your Axies starter packs. In return, they will take a cut from the SLPs that you earn, usually around 30-40%. Hey, I call it a win-win situation!
I myself am enrolled in a Scholarship founded by Cat & Reillz. There are other scholarships too which you can find them here. The folks at AxieEdge have vetted these scholarships programs, so they are safe for you to check out. If you’re looking for scholarships outside of these vetted ones, just be careful, they could be to unreasonable (asking for 70%+ cut) or downright want to scam you.
Staking Axie Infinity Shards ($AXS)
Sky Mavis (The company behind the game) have announced the governing token of the Axie world, called the Axie Infinity Shard (AXS). It was first launched on Binance. Which I consider a great move, proving that they are serious, by working with big name.
One thing you can do with AXS is staking. By staking, you reinforce the game economy and you will be paid for staking your AXS too.
And there you go! The many ways to earn while playing a game.
I will be writing more about Axies infinity, so watch the space