Five correct ways to play Axie Infinity
Axie Infinity has been very popular recently.
In the past seven days, this NFT-based game has created more than $39 million in revenue, which is almost more than the combined of Bitcoin and Ethereum.
what is the reason? Hmm...First of all, this is an interesting game.
Second, there are plenty of opportunities for gamers. Axie Infinity and the entire encrypted game are creating a Play to Earn ("playing and earning") mode in the game field.
You can get digital assets while playing games. These digital assets have real value (and have been rising), which means you can sell them while you work in exchange for tangible digital cash.
So, how do people make money?
There are 5 opportunities here, from playing to making money, to the active LP of Uniswap V3, to the passive mortgage of AXS tokens (coming soon).
In the next ten years, there will be billions of dollars worth of opportunities in the field of encrypted games.
1 How to use the money Axie Infinity
Photo: Logan Craig
The leading NFT game Axie Infinity is now facing a booming economic opportunity.
However, we must be clear: there are right and wrong ways to approach these opportunities. Therefore, this Bankless strategy will show you how to cleverly play and earn in Axie Infinity.
Goal: Learn different ways to make money in the Axie Infinity ecosystem.
2 Axie Infinity: A new type of economy
According to data from Token Terminal, Axie Infinity has generated total revenue worth more than $39 million between July 10 and July 17, 2021.
This number is very staggering. In the same time period, the total revenue of Ethereum and Bitcoin was 37.9 million U.S. dollars and 4.7 million U.S. dollars, respectively.
The cost of Axie Infinity this week not only exceeds the two most popular blockchains in the crypto economy, it even almost exceeds the sum of the costs of these two blockchains.
So, although some people joked that Bitcoin is as rigid as a pet stone, in fact, at least for now, a digital pet battle adventure game on Ethereum has shrunk the revenue of this top cryptocurrency.
Of course, this is not an ordinary game. It is Axie Infinity, and this project has become a dazzling example of how working hard in the previous bear market in the crypto market can reap huge returns today. It also created a new game design: make money while playing.
This work allowed the Axie team to build a community of loyal players all over the world. This community has now become the lifeblood of Axie Infinity's growing economy, and it provides users from all walks of life with the opportunity to make money around a fun and enjoyable game.
3 don't be a tourist
Axie Infinity is far from a "get rich quick" program. In fact, the people who are doing the best on Axie now are dedicated players and community members who have been investing for a while.
In other words, if you come to Axie Infinity with a travel mentality—just stop by here to make money easily, then you may be disappointed.
why? Because Aksi has its unique nuances and complexity. Don't be fooled by the cute aesthetics of the game, its battles are like chess and require quite a bit of strategy to win. In addition, the Axie economy is a breathing organism, and the prices of Axies and the AXS and SLP tokens in the game are constantly fluctuating.
In other words, there is no guarantee of success and profitability. If you rush into the game without paying attention to the subtleties of the game, you may even end up losing money.
For the best results, you can play Axie Infinity because it is fun. By carefully studying the mechanics of the game, this will make you one of the first people in the world to gain professional experience in "playing and making money" games.
This is the way to get real returns in money and other ways.
4 How about the benefit of Axie Infinity
So you are really interested in Axie Infinity and want to know more about the various economic opportunities of the game. Below I have selected five strategies you can consider. The first four are currently available, and the final "AXS mortgage" will be launched soon.
Opportunity 1: Play to Earn
A natural start to using Axie Infinity is to play with it.
The coolest part is that after winning the battle and completing the mission, you will get the Smooth Love Potions (SLP) in the game. The current transaction price of each SLP is about $0.26, and it is a necessity for breeding Axies.
Sell them, use them, no matter what-this is the SLP after you get the tokens. As for the actual game earning process, you can earn SLP in Axie Infinity through three main ways: missions, adventure mode (players vs. Environment, or PvE) and Arena mode (player-to-player, or PvP).
Currently, Axie Infinity provides a daily task, players can complete the task can get 50 US dollars SLP. Weekly missions and other limited-time special bounties are also being rolled out one after another.
For more casual games, you can try the adventure mode of Axie Infinity and get tokens by defeating computer-controlled monsters. If you can do it, then: combat will become more difficult as your level increases.
You can also test your determination through the best battles with other real players. This is also the purpose of the game, so the trainer can get SLP in every victory in the arena.
At this point, you need to keep the following points in mind:
The upcoming Battles V2 system will include free "initial" Axies for you to use, but before that, you must first buy (or borrow) 3 Axies to create a team and start the game.
The main center for buying Axies is the official Axie market, which is now located on the game's custom Ronin sidechain. For a quick guide to migrating assets to Ronin, check out the video tutorial provided by Jeff "Jiho" Zirlin, co-founder of Axie Infinity below.
Download Mavis Hub Launcher directly from axieinfinity.com, which is used to launch and update Axie Infinity.
Opportunity 2: Nurturing Axies
Another economic opportunity in the Axie Infinity universe is realized by breeding Axies. As you cultivate more Axies, you can sell, lend, and create Axie scholarship teams from your inventory (you let other players use your Axies in exchange for the non-exploitative share of the SLP they earn).
The breeding fee is a fixed fee of $4 AXS and a variable fee SLP, depending on the number of breedings of the participating Axies. For example, breeding two original Axies will cost a fixed cost of $300 SLP, and then increase proportionally from here, as shown in the figure below.
Picture from "Axie Infinity" white paper
Quick guide: How to breed Axies
Note: This quick start guide assumes that you have migrated the necessary assets to the Ronin sidechain of Axie Infinity.
1. Select the Axie you want, and click the "Variety" button on its profile page. Enter the two Axies you want to breed, and you can start. Click "Let's breed!"
2. You will receive a prompt in the Ronin wallet, asking you to approve the breeding cost, and press "Confirm".
3. Once the transaction is confirmed, you will receive a new Axie egg in your inventory.
4. After you breed Axies and lay eggs, it takes 5 days for them to be ready to mature. When this period of time has passed, go to the inventory in the Axie market and click on the egg of your choice.
5. On your freshman Axie's profile, click the "Morph to Adult" button. Your Ronin browser wallet will prompt you to sign a transaction. Press "Confirm" to complete the signature. The transformation process takes a few minutes, and then you will have a new adult Axie.
Opportunity 3: Provide liquidity for Axie tokens
We have discussed how SLP works like Axie Infinity's utility token, and then AXS, the game's native governance token.
Both of these assets are important to Axie Infinity, so as the game develops, the demand for these tokens will also grow. One way to participate in the Axie Infinity economy is to meet this need by acting as a liquidity provider (LP) on a leading decentralized exchange.
In particular, you might consider providing liquidity to:
Uniswap V3 AXS/ETH pool
Uniswap V3 SLP / ETH
Sushi AXS / ETH Pond
Remember: By acting as an LP in these pools, you have to bear the risk of impermanence, but you can also earn transaction fees and maintain Axie Infinity's economic upward exposure.
Opportunity 4: Invest in rare Axies
Do you think Axie Infinity will continue to flourish? And will its rarest Axies last as long as fine wine?
If this is the case, a potential way to make money is through speculative part of Axies, (that is, Axies has been "sharded" into many fungible ERC20 tokens to make collective ownership easier).
In this field, there are two ways to consider: a single differentiated Axies, or a collection of differentiated Axies.
An example of the former is Almace, which is an extremely rare Axie that is sharded into 10,000 ALMX tokens through NIFTEX. An example of the latter is Unicly's uAxie token, which represents a basket of 24 mysterious Axies.
Opportunity 5: AXS pledge (coming soon)
Remember how we started this strategy by noticing how Axie Infinity has brought incredible revenue recently?
These revenues are owned by the Axie Infinity Community Treasury and managed by AXS tokens. With the upcoming launch of the game's AXS pledge system, these considerable revenues will begin to be distributed to players who pledge their AXS.
How about such passive income?
It is speculated that the AXS pledge may be launched later this year, and it is worth keeping an eye on.
At present, Axie Infinity is full of various opportunities. In order to make the most of them and treat this NFT game with the same dedication and curiosity, you will soon become a shrewd veteran. Of course, the Axie Infinity journey is a frontier position with risks (price fluctuations, impermanence losses, etc.), and you need to be cautious and hardworking.