Axie Infinity: An Introduction
Gamers out there! Do you know that you can play games and earn money simultaneously? These days, many are now using their hobbies to earn a little extra income, and for game enthusiasts, you don’t need to spend time playing your favorite game and not earn at the same time. As blockchain technology emerged and developed, it has helped the online gaming industry increase dramatically, especially during the pandemic. Mainstream gamers have yet to discover the potential of blockchain gaming and its unique capabilities. And for those who want to try games where you can earn and use, Axie Infinity may be the answer.
Let’s learn what Axie Infinity is about and its features.
What is Axie Infinity?
According to its website, Axie Infinity is a blockchain-based “new type of game, partially owned and operated by its players.” Players earn AXS tokens by playing and utilizing them to decide the future of the game. Individual players can use Pokemon-like characters known as ‘Axies’ and collect them as virtual pets for battles, breeding, collection, and kingdom-building on the platform. Axies are considered NFTs or non-fungible tokens, which are digital assets that can be owned and traded in the marketplace for real money. As of March 2022, Axie Infinity holds the record for the third highest all-time sales for NFTs, trailing after OpenSea and LooksRare.
The game runs on the Ethereum blockchain and can be used with the Ronin Wallet to minimize transaction fees. The game itself is turn-based, with live players or computer-based Axie teams. In-game items are NFTs that are owned by individual users. These items can then be traded on the game’s marketplace for money. Some players also breed Axies to be sold on the marketplace. These well-breed characters then yield additional NFTs, which make them more valuable. According to Decrypt, some Axie NFTs are valued at 300 ETH per piece or around $600,000.
If you are familiar with the Pokemon game, you’ll definitely love playing Axie Infinity. The Axies you breed are yours and through battles with other players, earn rewards, which are called Smooth Love Potion (SLP). SLPs are tokens that can be exchanged for money. Though the initial costs are high, players who like to grind and level-up will surely earn rewards as they continuously breed and improve their Axies.
In addition, players who are seeking to “play to earn” can also make use of the platform to add to their income and increase their spending power. In the Philippines alone, the profits from playing Axie Infinity have helped people support their households. Although it’s really not the best way to earn regular income, it remains to be a very promising platform to earn real money.
The AXS Token
Axis Infinity Shard or AXS is the token being used for Axie Infinity. These tokens are used to pay for the breeding of Axies. The token is available in cryptocurrency exchanges like FTX, Binance, though they are not currently sold in places like the US.
Stay tuned on our Axie Infinity Series and learn how you can register, breed, trade, and do basic gaming using your Axies.