How are you Hiveans?
Axie Infinity is one of the blockchain video games trending at this very moment, and the reason why comes with a simple answer: players can earn cryptocurrencies while having a fun gaming experience.
As a result, its fame has been such that, in months, it has achieved a market capitalization of $1 billion, with more than 60 million transactions with its native token: AXS.
Basically, it is the safe materialization of the dream that many of us video game lovers have: it is to live from our passion without being, necessarily, a professional gamer.
What is Axie Infinity?
Axie Infinity is a dApp (decentralized application) built on the Ethereum blockchain. This dApp consists of two aspects: the game itself and its marketplace.
As a game, it has two modes: player versus player (PvP) and player versus environment (PvE). Basically, it offers you the best: for playing, you earn money and you can play both against other Axie Infinity players and against the environment, while using Axie equipment.
It is quite similar to Pokémon in its dynamic that there are classes, some stronger than others and uses as a resource the RNG (Random Number Generator, which makes the game count with a good randomness).
To this are included cards and turns, which transforms it into a kind of chess, mixed with pokémons and cards like Yu Gi-Oh. A beautiful mix, that believe me is really very entertaining.
As for its marketplace, it focuses on buying and selling its NFT (non fungible tokens): the Axies. To play, you need to have a team of 3 axies and the prices of each one can range from 300 dollars to more than 2 thousand dollars.
Likewise, their store is expanding to digital real estate, so it features items and lands as digital assets that you can customize and buy for over a thousand dollars.
As you can already see, we are talking about high values, so let's get into the key point: the SLP and AXS tokens.
What are AXS and SLP tokens?
Axie Infinity has two tokens: AXS and SLP. These tokens are the source of Axie's profitability, since they can be exchanged for ETH and subsequently exchanged for other cryptocurrencies.
AXS
The ERC-20 type token called Axie Infinity Shard (AXS) is a token that is received as a reward for players' participation in the game.
We can use AXS to participate in the governance of the game and support the community treasury to promote its development.
It is a newly created token, specifically in 2020 and its supply is limited to a 270 million, so it presents an interesting revaluation outlook.
SLP
The Small Love Potion (SLP) token is an ERC-20 token that is obtained as a reward for each battle won, either against other players or by monsters in the environment.
This type of tokens are essential, because if you want to breed new axies, you must have SLP.
How to earn money playing Axie Infinity?
With that said, let's start with the four key ways players can earn AXS and SLP tokens.
Play to earn
You have two ways to win SLP by playing:
- Winning battles in adventure mode (against environment) and arena mode (against other players).
- Doing quests.
Afterwards, you can use this SLP to breed Axies or trade them for dollars.
Of course, for this you must buy your own axies in the Axie Marketplace. To start playing, you must buy 3 axies to build your own team.
Breeding Axies
Axie breeding consists of "mating" them to generate more axies. At this point, it is important to know the kinds and physical characteristics they have to give as a result a good team that you can:
-Sell.
-Lend.
-Create scholarship teams.
Breeding costs a fixed fee of 4 AXS and a variable SLP fee that depends on how many times the axies have been bred before.
Create scholarship programs
Once you have your axies and raise them, you can form a team. There are many people who want to play, but don't have the money to invest in 3 axies.
For this reason, you can lend them your previously raised team so that they can play with your account. The player will not be able to manage the account, nor access your funds and will only have access to the game panel.
In this sense, both of you win: you get a percentage for being the investor and the player gets a percentage for playing.
You can decide these percentages according to the scholarship programs of other communities. Remember to be fair with your scholarships.
Providing liquidity for Axie tokens
The demand and growth of this game grows as time goes by. Therefore, another way to participate in the Axie economy is to serve as a liquidity provider (PL).
This is because there will be many investors or players who will want to exchange their tokens for ETH. For this reason, the trick is to get high trading activity so that the price does not drop or take too long to reach an acceptable price.
This way, there will always be people willing to pay the price that you as an investor or player are offering. As a result, you will be able to get AXS or SLP.
You can search for AXS to ETH or SLP liquidity pools on platforms such as Uniswap.
I hope this short article has been helpful to you Hiveans. Greetings!
Posted Using LeoFinance Beta
Good information.
Posted Using LeoFinance Beta
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