Axie Infinity is among the best-known and most-played games in the genre. We’ll go over the definition of Axie Infinity, its background, and how to play it step by step in this tutorial. Every gamer desires to make money from their favorite games, but in the conventional sector, only experts can do this.
But things move quickly in cryptocurrencies, and the P2E (Play to Earn) business model makes those above feasible.
By using non-fungible tokens (NFTs) in video games and blockchain technology, gamers and cryptocurrency aficionados may now make money by outlasting other players or just competing against the computer.
Axie Infinity: What is it?
Axie Infinity is a well-known P2E game built on blockchain technology and inspired by Pokemon. Players gather virtual animals known as Axies, which are NFTs.
These animals may be bred, gathered, and sold for a price based on how uncommon they are. Their cost can vary greatly, from a few hundred to several hundred thousand dollars.
Who Is the Axie Infinity Team?
The origins of Axie Infinity may be traced back to Trung Nguyen, a Vietnamese software developer who was ecstatic about the popularity of the collectible NFT cats known as CryptoKitties, which were kept on the Ethereum network.
By integrating blockchain technology into video games, Nguyen hoped to fully use its advantages and provide gamers with genuine ownership of the in-game goods they accrued.
Nguyen is a co-leader of the tech-focused game company Sky Mavis. After observing the popularity of P2E games, the group decided to use the Ethereum blockchain to develop a Pokemon-style game. After raising $152 million in 2021, Sky Mavis is now valued at $3 billion, placing it among the top gaming businesses globally.
The Launch of Project Axie Infinity
To launch in March 2018, Axie Infinity raised money from well-known investors including Mark Cuban, Blocktower Capital, and Libertus. But it wasn’t until Binance launched the AXS initial exchange offering (IEO) on its Launchpad in October 2020 that the AXS token attracted the interest of the cryptocurrency world. At $0.1 a token, each winning lottery ticket was awarded 2,000 AXS.
Each ticket was worth around $250,000 in October 2021, only one year after the project’s popularity surged and the token price shot through the roof. This is a gain of almost 125,000% in a single year.
The Tokens of Axie Infinity:
AXS and SLP Expounded
Before delving into the game itself, let’s talk about the Ronin Network and its two tokens, Small Love Potion (SLP) and Axie Infinity Shard (AXS). Thus, what is the difference and why does Axie require two tokens?
The Network Introduces You to Ronin Sidechain
For Google Chrome and Firefox, there is a browser add-on called Ronin Wallet. It’s the Ronin sidechain digital wallet owned by Sky Mavis. Ronin has an app for Android as well.
The whole ecology of Ronin is intended for use in the Axie Infinity metaverse. It gives participants access to a more open economy and lets them avoid the high gas prices on the Ethereum network.
Users will be able to transfer all in-game assets, including Axie animals, land, and land goods, from the Ethereum blockchain to the Ronin blockchain thanks to Ronin, an Ethereum-linked sidechain with its own set of smart contracts.
Installing the Ronin wallet as a Chrome or Firefox extension is possible. Establish your password, taking care to record your seed phrase (which you should never divulge to third parties). Once prepared, click extensions and choose Roning to open your wallet in Chrome’s upper right bar.
An explanation of the SLP token
First and foremost, in Axie, a Small Love Potion (SLP) is the token you get awarded for each victory in battle. You may use it to breed Axie animals that you can then sell in the Axie Infinity Marketplace for a predetermined price or through an auction. Unlike AXS, the SLP token has an infinite supply.
On Katana, the decentralized exchange that Axie Infinity developed on the Ronin network, SLP may be exchanged for other tokens. Anybody in the ecosystem may exchange cryptocurrencies like USD Coin (USDC) and wETH (wrapped Ether) as well as in-game assets through the DEX.
An explanation of the AXS token
In Axie Infinity, the top players from each of the game’s 19 seasons are awarded AXS, an ERC-20 utility token. Since AXS is restricted, many players also opt to exchange their SLP for it. The Proof of Authority is the consensus algorithm, and validators are selected by Sky Mavis.
Owners of AXS can vote and submit suggestions for governance through their governance rights. Users may get access to different in-game features and earn prizes by staking their AXS.
All of the game’s earnings go to the Community Treasury, which AXS established.
There are now just two sources of income:
- The 25% from Axie Marketplace purchases
- The breeding fee split that AXS receives.
Once the network is sufficiently decentralized, token holders will have the power to change or implement new ways to monetize funds; in the end, AXS holders will run the Treasury.
There is a limited amount of AXS tokens, with a maximum value of 270,000,000. There will be a single 65-month distribution of all AXS tokens.
How to play Axie Infinity for beginners
Download Axie Infinity for Windows, Mac, iOS, or Android to begin playing. Assemble your squad for the Adventure and Arena modes after making your Ronin wallet and purchasing your first Axies. Nine classes and six attributes (HP, Speed, Skill, Morale) affect an ally’s numbers. Use cards wisely to strike opponents during fights. While the Arena mode competes against other players for rewards depending on your Matchmaking Rating (MMR), the Adventure mode includes 36 stages where you may collect SLP (Smooth Love Potion). Earning SLP during daily missions and fights can be claimed afterward.
What is Axie Breeding?
Breeding Axies is another method of earning money. Each monster is different from the others due to its special qualities.
But breeding is not a free process.Axie will charge you SLP and AXS for it. Axies can only be bred seven times before they stop having babies, hence their prices vary.
Go to Axie.tech and choose the number of breeds to get an estimate of how much breeding your Axie will cost.
Naturally, the degree of your Axies’ qualities—such as purity, body parts, and rarity—will determine how much they are worth. In October, the priciest Axie went for 300 ETH or around $250,000 at the time.
You can sell axies on Axie Marketplace. First, link your account to your Ronin wallet.
