Are you looking to earn cryptocurrency while playing video games? Look no further than Axie Infinity, a project on Ethereum that combines finance and gaming to create a unique play-to-earn ecosystem. With Axie Infinity, players can earn cryptocurrency just by playing the game, making it an attractive option for those looking to make some extra income. However, it’s not completely decentralized yet, and there are risks involved. In this article, we’ll take a closer look at Axie Infinity and how you can earn money while playing.
What is Axie Infinity?
Axie Infinity is a blockchain-based online game that has taken the world by storm since its launch in 2018. The game is inspired by the popular Pokemon series, but instead of Pokemon, the game is built around non-fungible tokens (NFTs) called Axies. These NFTs can be mixed and matched to create the perfect team to battle against other players for cryptocurrencies.
The game runs off of two native tokens, Small Love Potion (SLP) and Axie Infinity Shard (AXS). Players earn SLP by battling their Axies against other players or computer-controlled opponents. The game is extremely simple, but it is just one part of the Axie Infinity ecosystem, which has many other use cases beyond the game itself.
How can you earn money from Axie?
Axie Infinity is based on a unique ecosystem of non-fungible tokens (NFTs) called Axies, which are digital creatures that can be bought, sold, and traded on the game’s marketplace. While the game is primarily designed for entertainment, players can also earn real money through various means. Different ways you can earn money from Axie Infinity, such as:
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Play the game
The easiest way to earn money in Axie Infinity is by simply playing the game. To do this, you will need to own at least 3 Axies, which can be purchased on the game’s marketplace using Ether (ETH). Once you have your Axies, you can start playing the game and accumulating Small Love Potions (SLP) and Axie Infinity Shards (AXS). These tokens can be used to breed Axies, buy in-game items, and more.
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Scholarships
If you don’t have the funds to purchase your own Axies, you can still earn money in the game through scholarships. Scholarships are agreements between players who own Axies and players who don’t. The Axie owner hires a player, known as a scholar, to play the game and earn SLP on their behalf. The scholar is then paid a percentage of the SLP earned, usually 50% or less.
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Breeding Axies
Breeding Axies is another way to earn money in the game. To breed Axies, you will need to have two Axies that haven’t been bred much before. The breeding process costs 4 AXS and an amount of SLP that varies based on how many times the NFTs have been used for breeding previously. Once the breeding is complete, it takes five days for the new Axie to reach maturity and hatch into an adult that can be used in the game. Because Axies are so expensive, selling them on the Axie marketplace can earn you a significant amount of Ether.
How many cryptos can you earn?
The amount of cryptocurrency you can earn from Axie Infinity depends on several factors, such as your skill level, the time you invest, and the market value of the tokens. Playing the game and earning SLP and AXS tokens can result in a small but steady income, but it may take a while to accumulate a significant amount. Breeding and selling Axies can be more lucrative, with some rare NFTs fetching thousands of dollars on the marketplace. However, there are costs involved in breeding and listing your Axies for sale, so you’ll need to factor those in when calculating your profits. Overall, it’s possible to earn a decent amount of cryptocurrency through Axie Infinity, but it requires patience, dedication, and some initial investment.
Axie Infinity can be a profitable investment opportunity for those who are willing to take the risks. The game has seen a surge in popularity in recent years, and the value of its native token, AXS, has increased significantly. However, as with any investment, there are risks involved. The high cost of entry, the volatility of the cryptocurrency market, and the potential for scams and hacks are just a few of the risks that investors should be aware of before investing in Axie Infinity. You have to do research, understand the risks involved, and invest only what you can afford to lose. You may be able to profit from this fascinating new gaming and investing opportunity by implementing these safety measures.