In a world where technology is rapidly advancing, it’s no surprise that the blockchain industry has become a buzzworthy topic. Amidst the sea of projects and platforms, one stands out – Axie Infinity. This blockchain-based game has caught the attention of many for its potential to earn. But is it really possible to make money from Axie Infinity? Let’s dive into the truth and discover the answer together.
What is Axie Infinity?
If you’re like most people, you’ve probably never heard of Axie Infinity. It’s a new online game that’s taking the internet by storm. The game is played on the blockchain, which means all the data is stored on a decentralized network. This also means that anyone can buy or sell virtual assets for real-world currency.
In simpler terms, Axie Infinity is a decentralized game that allows users to hatch, raise, battle, and trade digital creatures called Axies. Axies can be generated in-game or bought from the Axie Market using Ethereum. These game assets are represented by NFTs (non-fungible tokens) and can be exchanged for cryptocurrencies or real money.
How Does Axie Infinity Work?
Axie Infinity was developed by the gaming company Sky Mavis. They designed the game for players to buy gaming NFTs and pit these cute digital monsters against each other. Users can earn SLP (Smooth Love Potion) tokens as rewards during gameplay which they can trade for either crypto or fiat currencies.
To start playing, you need to get Ethereum to allow you to buy three Axies. On average, one Axie can cost roughly $355, but according to DappRadar, it has now gone down to $36.8 in the last month. While it may be a bit expensive, Axie is currently working on creating a cheaper version of the game.
You must have a Ronin account, Sky Mavis’ digital wallet. You must link it to your Axie Infinity account to make purchases.
There are two ways you can play on Axie Infinity: seeking out assets. The first one is, as mentioned above, SLP. The other one is to get AXS tokens or Axie Infinity Shards. Whatever route you plan on taking, earning money from Axie Infinity is possible. Continue reading to know how.
How Can You Earn from Axie Infinity?
Currently, there are five ways you can earn from Axie Infinity. Check them out below:
1. Harvesting Smooth Love Potions
The most common way for people to earn from Axie Infinity is to harvest SLPs. When you fight battles and complete quests, you will get rewards in the form of SLPs the same way you do in other games. They are a valuable resource and are high in demand because you need them to breed Axies.
However, they have value on their own as you can sell or trade them on the Axie Marketplace. To earn SLPs during gameplay, you need to do the following:
- Fight computer-controlled monsters in Adventure Mode and make sure you win
- Go to Arena Mode and win over other players
- Complete the Daily Quests
Adventure and Arena Modes reward SLPs differently. It would depend on your level or the arena bracket you belong to. In Adventure Mode, you can earn as much as 50 SLPs per day, while in Arena, it depends on your skill level, but typically, a beginner can make up to 300 SLPs per day.
2. Breeding and Selling Your Axies
The Axies you own already have value in them as they are NFTs. Breeding them means more to play with and more to sell. Interestingly, breeding Axies is one of the more exciting concepts of the game. An Axie offspring has traits and characteristics that are different from its parents, making it as unique as they are.
Below are the things you’ll need to breed an Axie:
- Two compatible Axies that are capable of breeding
- SLP tokens
- Axie Infinity Shard (AXS)
Once you have bred a new Axie, you can decide whether to keep it or trade it. Its price will depend on its qualities, such as its well-balanced stats, or if it has a great synergy of abilities. Of course, the finer the qualities, the more expensive your Axie will be.
3. Building an Axie Scholarship Program
When you decide to keep your newly-bred Axies, you can create an Axie Scholarship program. This is where you allow other players to use your Axie and let them play for free. Once they earn from your Axie, you can get a cut from their earnings that you agreed upon.
Scholarship programs are not a feature of the game and are done outside of it. You will have to create the terms and conditions of the program. You will also be the one to decide on how to split the earnings and many other details.
4. Buying and Investing in Lunacia Land Plots
The Axie homeland is called Lunacia. It comprises divided and tokenized land plots that are homes and bases of operations for your Axies. Landowners can make their lands profitable by adding host shops, battle monsters, and other buildings.
You can rent your land to other players or sell it when it appreciates. You can also create builds by forming alliances with other players to make your plots more invaluable.
5. Staking Your AXS Tokens
The Axie Infinity Shard (AXS) is Axie Infinity’s other in-game token. It is a currency, and you can use it for staking to claim rewards. Staking is the process of locking up your AXS tokens to provide support to Axie Infinity’s blockchain network. Doing this will allow you to receive newly issued AXS in return.
AXS has seen a rise in its value. When you stake your AXS tokens, you get a new way to earn passive income.
Axie Infinity is a game like no other. It keeps you highly engaged while earning real money. However, it also involves money (whether fiat or crypto), which means there are risks. With a bit of research and the time to understand the crypto world, Axie Infinity is a worthwhile game and investment channel.
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