Axie Infinity is one of the latest cryptocurrencies that has seen a hike in price in such a short amount of time. A Non-Fungible Token (NFT) game that allows players to earn, it has become quite popular in the cryptocurrency world.
Learn more about Axie Infinity, its crypto token, and the ways players earn.
What Is Axie Infinity?
Axie Infinity is where cryptocurrency and gaming merge, Nasdaq explained. Making blockchain technology more accessible to the masses in a fun way, Axie Infinity's play-to-earn crypto is built on the Ethereum (ETH) network.
According to its whitepaper, Axie Infinity is a Pokemon-inspired universe allowing anyone to earn tokens through skilled gameplay and contributions to the ecosystem. Players get to battle, collect, raise, and build a land-based kingdom for their pets.
Because the game works on the Ethereum blockchain, all art assets and Axie genetic data can be easily accessed by third parties. This allows community developers to build their own tools and experiences within the Axie Infinity Universe.
According to Nasdaq, Axie Infinity's (AXS) price shot up to almost 550 percent in just a month, and by July 15, 2021, it was trading at $28.61. For reference, On June 15, it was trading at $4.45. As of writing, an AXS coin is worth $74.77.
To begin playing in Axie Infinity, the player must buy three Axies.
You are important 🤝✨ pic.twitter.com/al4bofeQN5
— Axie Infinity (@AxieInfinity) August 20, 2021
5 Ways to Earn Money From Axie Infinity
Earning on Axie Infinity is pretty straightforward and players can have their Ether coins exchanged for fiat currencies too.
5. Battling Axies
Axies, the adorable creatures of the game, can be used to battle monsters in the Axie Infinity Adventure Mode, Giz Guide explained. Players can also battle other players in the Arena. Battling Axies allows players to earn in-game rewards. Completing in battles to win leaderboard prizes is also an option. The prizes can then be exchanged for crypto and then for fiat currencies if the player wishes.
4. Breeding Axies
Players also have the option to breed Axies and come up with strong ones that can be used for battling or selling on the marketplace. The key to making more money is by leveling up the Axies so they can sell for a competitive price on the marketplace.
3. Farming Small Love Potions (SLP)
Small Love Potions are used to breed axis. Players can farm, collect, and sell their SLPs on the marketplace.
2. Axie Scholarships
In the spirit of making blockchain gaming more accessible, players have also started lending Axies to players who cannot afford them so they can try out the game, Giz Guide said. Those who borrow Axies provide commission to the lenders.
1. Invest
Those who do not want to play the game also have the option to buy both AXS and SLP tokens on decentralized exchanges.
According to Nasdaq, a lower-priced Axie fetches for $200 and they can be sold to as expensive as 300 ETH which is around half a million dollars.
