- Steven Erquiza
Things to Know About Axie Infinity
Axie Infinity is an NFT-based online video game developed by Vietnamese studio Sky Mavis. The game uses Ethereum-based cryptocurrency AXS and SLP. The project initially started in 2017 and only took off recently. This game is a play-to-earn cryptocurrency game. Play to earn is a new form of gaming. It is getting popular with gamers due to the possibility of making money. Players in the game can earn cryptocurrency tokens to trade them on decentralized exchanges for cash.
In Axie Infinity, the players own creatures called Axies. Each of the Axie is a non-fungible token (NFT), which are unique digital collectibles. Players can breed and battle Axies, also complete quests and farm resources. They have created a whole economy in the game, it is called Lunacia. There are 2 types of in-game tokens in the game: Smooth Love Potion (SLP) and Axie Infinity (AXS). These tokens can be used to buy land, farm, or breed Axies in Lunacia. Since these tokens have value, gamers can use them to pay rent or food in real life. Just remember that the value of the tokens changes.
If you are an investor, you are more likely to buy AXS tokens hoping they will increase in value in the long term. But, Axie Infinity is more structured toward players. If you want to join, it can be expensive. To join, you have to buy the tokens and buy 3 Axies in the beginning. Because of the success of the game, the value of the cryptocurrency rose up. Players used to be able to get started with $5 to $10. But now, the minimum price for an Axie is around $200, so that means you have to put more money down to join; in total, you have to spend $600 to play. You will also need 2 wallets and a lot of Ethereum (ETH) before you can buy your first Axie.
Some people are even quitting their jobs to focus solely on playing the game and making it their primary income. The average player can earn around 4,500 SLP a month. At today’s prices, that’s about $1500. Based on the Axie website, there are more than 250,000 daily active players. The game can be time-consuming and strategic. Players need to carefully breed their Axies to gain particular skills. They need to complete quests to earn energy to play more.
Before you start, make sure to research the long-term gain from this game before using your money to buy-in. Have fun and play smart!!!