Axie Infinity is a play-to-earn crypto game that involves crypto tokens and NFTs. Gamers engage with virtual pets known as Axies in this game. The Axies are NFTs along with other in-game items. Crypto tokens such as AXS and SLP are used as in-game currencies. Users can exchange crypto tokens for fiat money and also trade their Axies. Gamers can earn money by playing the game to earn crypto tokens and NFTs.
Crypto games have witnessed a rise in the last few years. Axie Infinity is one of the most popular crypto games and has shown tremendous growth and opportunities for using blockchain technology in play-to-earn games.
Gamers can make money while playing play-to-earn crypto games. In the past, gamers would play to gain intangible benefits such as entertainment and a sense of accomplishment. The integration of blockchain technology with games has enabled gamers to get possession of their in-game assets, such as crypto tokens and NFTs. Gamers can exchange their crypto tokens for other tokens or convert their crypto assets into fiat currencies. So who invented Axie Infinity? A Vietnamese developer, Sky Mavis, launched this innovative game in 2018.
How does Axie Infinity work?
Axie Infinity is a play-to-earn game where gamers can collect and sell crypto tokens, Axies, virtual real estate, and other items via its NFT marketplace. The two crypto tokens used in the game are Axie Infinity Shards (AXS) and Small Love Potion (SLP). Axie Infinity Shards (AXS) are the main token of the game and can be bought or sold on its exchange. Players need AXS to play the game and can trade this crypto token for other major cryptos.
The second crypto token in this game is known as Small Love Potion (SLP). Players earn this token by spending time in the game, completing in-game tasks, and beating other Axies. The more gamers play, the more SLPs they can win. Gamers can exchange SLPs for other crypto tokens on its exchange.
How to play Axie Infinity?
Players need three Axies to start playing. These Axies can be resold by gamers and can generate in-game rewards. Axie Infinity has migrated its assets to the Ronin sidechain on Ethereum. Gamers have to create a Ronin wallet as well as an Ethereum wallet. Users use the Ronin bridge to transfer ETH to the Ronin sidechain, where the tokens become WETH (wrapped ETH). Gamers can then use WETH to buy Axies in the game.
You can create an account on the Axie Infinity website and download the game to your computer. Can you play Axie Infinity on a mobile device? Yes, you can play this game on mobile devices. Gamers pair their Ronin wallet with their account and sync their crypto wallet with the game to start playing Axie Infinity.
What are some risks related to Axie Infinity?
Axie Infinity is spearheading crypto-based games, but the prices of AXS and SLP tokens depend on the popularity of the game. The prices of these crypto tokens can also fall if gamers lose interest or migrate to a rival game.
How do Axie Infinity and gamers make money?
Another question you might ask is: Can I make money with Axie Infinity? And how does the game make money? Axie Infinity charges a commission of 4.25% to gamers who buy and sell Axie assets on its marketplace. This game also collects fees for breeding Axies to create new virtual pets. Players pay these fees with AXS and SLP tokens. SLP is a utility token used to create new Axies whereas AXS is the governance token of this game. AXS and SLP can be traded for other crypto tokens or fiat currencies. Many enthusiasts play this game globally, especially in countries such as Venezuela and Sri Lanka, where fiat currencies have lost their value dramatically. There are three ways you can make money from Axie Infinity.
-Virtual real estate: Virtual land can be bought, sold, and leased to other players. Players can buy a rare plot of virtual land that can prove lucrative if many other players also wish to rent or purchase it.
- SLP Tokens: Players can earn SLP Tokens each time they win combat. These tokens can be used to breed more Axies. SLP can also be traded for fiat currencies on various crypto exchanges.
- Breeding: Players can breed their Axies to create new ones with unique traits. Rare NFTs can fetch high prices in the marketplace.
The future of Axie Infinity
The V3 upgrade of Axie Infinity took place in April 2022 and is known as Axie Infinity: Origin. This update revamped gaming mechanics and visuals, among other things. The land gameplay update took place in December 2022. This update made the game more engaging as it enabled players to engage in real-world battles and other strategic team communications. Players can create varied experiences on their virtual real estate. This feature has led to unique and innovative experiences for players. Sky Mavis has also launched a program for developers who can create Axie-related initiatives and other games within the Axie Infinity ecosystem. This feature enables the community to contribute to the development of the game and create new exciting games for other players to experience and enjoy.
Conclusion
Axie Infinity has a large user base and is the leader in blockchain-enabled games. The creator of this game is constantly developing and expanding experiences for its players. The recent updates have enabled users to create unique experiences for others to enjoy. These updates have enabled gamers to become collaborators and elevate the gaming experience. The future development of Axie Infinity will be led by its robust community. Many players are optimistic about the future of play-to-earn games, and Axie Infinity will be leading the charge for their adoption.
You can now trade Axie Infinity on ZebPay. Keep yourself up to date with the latest crypto news on ZebPay blogs.
Disclaimer: Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions. Each investor must do his/her own research or seek independent advice if necessary before initiating any transactions in crypto products and NFTs. The views, thoughts, and opinions expressed in the article belong solely to the author, and not to ZebPay or the author’s employer or other groups or individuals. ZebPay shall not be held liable for any acts or omissions, or losses incurred by the investors. ZebPay has not received any compensation in cash or kind for the above article and the article is provided “as is”, with no guarantee of completeness, accuracy, timeliness or of the results obtained from the use of this information.
