By Pranay Singh Bayas
The popularity of cryptocurrencies and NFTs has reached an all-time high, which means that many sectors, including gaming, are interested in the blockchain technology that supports them. Axie Infinity is one such blockchain gaming concept that has lately gained a massive amount of attention. Let us discover more about Axie Infinity!
Understanding Axie Infinity
Axie Infinity is a “play-to-earn” pet training game and virtual environment developed on the Ethereum blockchain, designed by Sky Mavis, and inspired by Pokémon. It’s a monster-fighting game in which you pit teams of Axies against one another. Axies are in-game pets that players may collect, breed, combat, and trade. Axies are user-created creatures who like fighting, building, and hunting for treasure. Each Axie has its unique skills. The player receives SLP (Small Love Potion — ERC-20 tokens) at the end of each battle, which serves as the game’s experience points. Using the SLPs, players may then breed their Axies to generate more and can also keep them for future fights or sell them on the marketplace.
History and Adoption
Axie was created as an entertaining and informative method to expose blockchain technology to the general public. Many of the founding members met while playing Cryptokitties. Soon afterward, they began work on Axie in order to bring the wonders of Blockchain technology to billions of gamers. The main difference between Axie and conventional games is that users are rewarded for contributing to the ecosystem via the blockchain architecture. The term “play to earn” has been used to describe this new gaming concept. Thousands of gamers from developing countries have joined Axie in search of a new source of revenue during Covid, and most of these people have never interacted with blockchain before.
How to start playing Axie Infinity?
- First, you will need an Ethereum wallet to buy some ETH (MetaMask).
- After that, you will require a Ronin wallet. Download the Ronin wallet extension. The Ronin blockchain is an Ethereum sidechain created by the Axie Infinity team to alleviate Ethereum network congestion. As a result, Axie players may experience quick and smooth transactions with minimal gas fees.
- On the Axie Infinity marketplace, create an account (Login using Ronin wallet). You now have an account with Axie Infinity. You may give your account a name or update it later. Following the creation of your account, you must link your email and password and get the verification code from your email to confirm and finish the setup process.
- You will now need to connect your MetaMask account. Click “Account Settings” and “Attach MetaMask” from the dashboard.
- To begin your Axie Infinity adventure, you will need to buy three Axies. This item is available for purchase in the Axie Infinity marketplace. To purchase Axies, you may now require ETH in your Ronin wallet. You may deposit ETH from your Ethereum wallet to Ronin wallet using Ronin bridge. Once you have done all of this, you can now shop the marketplace for Axies.
- All you have to do now is download Axie Infinity on your preferred platform (Android, Windows, MacOS, or iOS) and you’re ready to play!
How can players earn money using Axie Infinity?
The success of Axie Infinity is determined by the number of individuals who use its services. According to the creators, the game has so far earned solid revenues and has a continuously expanding player base. The “Play to earn” business model is used by Axie, which means each participant is rewarded for their involvement with the game and broader platform.
According to the game’s whitepaper,
- Players may earn money by competing in PVP battles for rewards on the leaderboard.
- Players can sell Axies on the marketplace.
- Rare Axies such as Mystics and Origins are collected and speculated on.
- Farming to obtain the love potions required to breed Axies which may be sold on Uniswap and Binance.
- AXS tokens may be used to purchase digital products in the Axie Infinity universe.
Understanding AXS and SLP
Axie Infinity Shards (AXS) and Smooth Love Potions (SLP) are the two significant tokens in the Axie Infinity ecosystem.
- Axie Infinity players may receive Smooth Love Potion (SLP) tokens as rewards in battle mode or adventure mode. SLP are tokens that are used to create new Axies. Before the token update, it was known as Small Love Potion. SLP opens the way for the Play-to-Earn concept, which has helped promote Axie Infinity games among users seeking to make money or participate in DeFi.
- Axis Infinity Shard (AXS) is Axie Infinity’s native governance token. AXS may now be used to pay for breeding fees. AXS token holders will be able to vote on game decisions and development in the future and stake AXS tokens to win rewards and prizes in the game. Axie Infinity intends to transition into a decentralized autonomous organization (DAO) over time in order to allow for community control.