Axie Infinity — The Game Taking the Cryptocurrency World by Storm


What Is Axie Infinity? The Play-to-Earn NFT Game Taking the Cryptocurrency World by Storm

Playing video games has always been about having a good time. Whether it's Space Invaders, Sonic, or Red Dead Redemption, you press the start button and do your thing until the game ends - and then you probably wipe the perspiration from your brow and do it all over again.

However, a new class of games is emerging in which playing may be viewed as an investment opportunity – and perhaps a chance to make a career. Play-to-earn games such as Axie Infinity and The Sandbox have lately exploded in popularity.

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They have one thing in common with many earlier classics: they include complicated economic environments. For example, in the 1980s blockbuster Elite, players traveled from world to planet, purchasing and selling weapons and commodities to grow their credit. Simoleons are used to buy anything from pizzas to mansions in the life-simulation series The Sims.

However, the in-game cash in these older games had no real-world worth. In certain games, such as World of Warcraft, a black market for swapping in-game stuff and characters has developed. Play-to-earn games, on the other hand, take this to a whole new level. So, what are the mechanics of these games and where are they going?

Axie Infinity, a Pokémon-style game produced by Vietnamese company Sky Mavis, is the market leader in this new category. It has over 350,000 daily active users, with the Philippines accounting for roughly 40% of them, followed by Venezuela and the United States.

The game centers around Axies, charming fuzzy critters that players may raise, train, utilize to perform objectives, and combat online. The goal of the game is to collect tiny love potions (SLPs), which can then be used to produce additional Axies for usage in the game.

SLPs can be used to buy and sell cryptocurrencies on a cryptocurrency market. Top players are said to be making SLP1,500 (US$435/£317) every day from their Axies, despite the fact that the price of SLPs versus the US dollar fluctuates daily. Since 2020, it has been steadily growing, so there is a case for holding on to them – or, conversely, selling while the going is good.

Axies may be traded like NFTs in real life on sites like the Axie Marketplace (non-fungible tokens). NFTs are digital collectibles that are stored on online ledgers known as blockchains and have recently swept the art world by storm.

Finally, there is a cryptocurrency called the Axie Infinity shard that is linked to this game (AXS). AXS investors have a say in how the game's ecology is run, and they can also utilize it to obtain a piece of the community's wealth. AXS has also witnessed a significant increase in recent weeks, nearly doubling in value. It is the market's largest gaming cryptocurrency.

What is Axie Infinity?

In the cryptocurrency industry, Axie Infinity is the most recent fad. It's the intersection between bitcoin and gaming. You may gather and breed axies in this Pokemon-inspired game. In Adventure mode, you may form your own team and compete against AI-controlled opponents, or you can compete against other actual people in the Arena. The game is available for PC, Android, and iPhone.

About Axie Infinity

Axie Infinity was released in early 2018 by Vietnamese company Sky Mavis and gained popularity amid the Covid epidemic. The game was created as an entertaining method to teach the world about blockchain technology. It pioneered a new game paradigm known as "play-to-earn." Despite the fact that play-to-earn games like CryptoKitties have been existing for a few years, Axie Infinity's earning potential and easy gaming mechanics propelled it to the top of the popularity rankings. Axie Infinity is a non-fungible token (NFT) game that allows participants to earn money via blockchain technology.

The technology that supports it

All NFT games use blockchain technology, which is similar to a digital ledger that can be viewed by anyone online. When Bitcoin (BTC) was founded in early 2009, most people grasped blockchain's real-world potential. Since then, a slew of other cryptocurrencies have emerged, with Ethereum (ETH) presently ranking second in terms of market valuation, trailing only Bitcoin.

The cryptocurrency used by NFTs is Ethereum. Non-fungible tokens are assets that are unique and cannot be replaced or swapped, unlike money or bitcoin, which are fungible and retain their worth after being traded. NFTs are regarded as the ultimate evidence of ownership due to the security of blockchain technology.

A painting is a basic example of an NFT asset. Consider the Mona Lisa, one of the world's most famous works of art. You may make a reproduction of the picture, but the world will never have more than one Mona Lisa.

As an NFT game, Axie Infinity

The Ethereum cryptocurrency Axie Infinity Shards, or AXS, is utilized by Axie Infinity. It is an Axie universe ERC-20 governance token. The NFTs are the axes in Axie Infinity. Each axie has its own tag that distinguishes it from the others.

AXS and Smooth Love Potions, or SLPs, can be used to breed axies, resulting in new and unusual axies. There is a limit to how many times an axie may reproduce in order to avoid hyperinflation. Players gain SLP, which can then be turned into ETH, which can subsequently be exchanged into actual money.

How to play Axie Infinity and make money

To play Axie Infinity, you'll need to create many accounts. For its trade and marketplace, Axie Infinity uses blockchain and cryptocurrency technology.

1. To begin, you must first obtain a digital wallet. To verify your account, you'll need a valid ID. You'll need to download it to your computer or phone.

2. Use any cryptocurrency trading site to load it up with Ethereum (ETH).

3. Ronin Wallet may be downloaded here. Sky Mavis has designed a wallet that is an Ethereum-linked sidechain made particularly for Axie Infinity.

4. Use Ronin Bridge to send ETH to Ronin and purchase at least three axes from the Axie Market.

5. Axie Infinity may be downloaded from the official website.

In Axie Infinity, there are two methods for a player to make money. They may breed and sell their axies on the market, sell a pre-made team, or convert SLP to ETH, which is the most prevalent approach.

There are three ways to earn SLP in the game.

1. Completing Daily Quests

Daily quests reward you with 25 SLP and are refreshed every day.

2. Defending yourself from creatures in Adventure mode (PvE)

Adventure is a single-player mode in which players fight creatures alone. SLP is awarded to players according to the Adventure level they defeat. Players can earn a maximum of 50 SLP every day in Adventure mode.

3. Engaging in combat with other players in the Arena (PvP)

You can fight against other players and their axes in this mode. The best source of SLP for players will be Arena mode. Playing in the Arena costs energy, and the amount of SLP you get is determined by your matchmaking ranking (MMR). If a player wins or loses bouts in the Arena, their MMR will improve or drop.

Threats for NFT Games

1. Phishing and scam websites

Because NFT games are so popular these days, fraudsters are taking advantage of them by creating bogus websites and tools to steal people's online account information, banking information, and other personal information. These websites frequently have the same appearance as authentic websites. Trend Micro Site Safety Center is a free service that anyone may use to see if a website is dangerous

2. Cryptocurrency is a dangerous and volatile asset.

With the advent of NFT games and claims of people making money just by playing them, it's easy for others to want to step in and invest their hard-earned money in the hopes of making money as well. However, NFTs are only one aspect of cryptocurrencies. NFT prices may fluctuate dramatically within hours. Anyone interested in getting into NFT games should think of it as an investment since you will need to put in some time in order to gain money.

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