Consider the possibility of earning money, potentially substantial amounts of money, while participating in a Pokemon-style game. Axie infinite is part of a new gaming trend known as ‘play to earn,’ which blends cryptocurrency with game-playing to create a profitable experience.
The Philippines, whose economy had been especially hard hit by the Covid 19 outbreak, was the epicenter of the Axie infinite craze, which lasted for many years. Many people who were unable to work in their usual jobs as a result of the lockdown resorted to Axie infinity as a source of money and have continued to do so even after the restrictions were relaxed. But how does Axie infinity function in practice? And what are the potential dangers for children and young people in this situation?
What is Axie infinity?
Axie infinity is a digital pet community in which you buy creatures called axies and use them to battle, explore and breed with other axies.
It was developed by the gaming company Sky Mavis and runs through the cryptocurrency Ethereum. The game has an 18+ age rating, but with its Pokemon style design and no clear age verification process, it is visually appealing to younger children.
Who Created Axie Infinity
It is a game produced by Sky Mavis, a gaming company based in Ho Chi Minh City, where there are a large number of Vietnamese programmers and designers. The firm has gained notoriety as the value of its AXS token valuation has surpassed $2.4 billion, establishing it as a household name.
How to Start Playing Axie Infinity
To play, you first need to buy three axies with Ethereum. Purchasing these initial axies can cost the cryptocurrency equivalent of up to $1,500 or 1,115 euros. Axie is currently working on creating a less expensive version of the game that could be free to play and available to download in the app store or Google play store.
Sky Mavis have developed their own digital wallet called Ronin, which you can link to Axie infinity, once linked you can purchase axies through your Ronin wallet.
How to Play Axie Infinity
There are two main ways of playing the game that involves seeking out two different assets
One is SLP -Smooth love potion. You earn SLP through playing adventure games or arena matches and by completing daily quests. SLP is the resource needed to breed axies and there is an unlimited supply.
The other resource is AXS tokens. These are finite resources. There are only 270,000,000 in the game. AXS id an Ethereum token. Players who hold AXS tokens have governance rights in the game, meaning that they can make decisions about its future. If this progression continues, they may also be able to buy out Sky Mavis and run a fully decentralized economy in game.
Players can also purchase virtual plots of land from the game’s world called Lunacia. You can sell your axies for AXS tokens or find these tokens within the game. These can be transferred into fiat currency such as GBP.
What Are Axies
An axie is an Non fungible token (NFT). Non fungible means irreplaceable. If you buy an NFT, you own the unique URL describing it. Even if someone were to screenshot the image of the NFT you own, they wouldn’t be able to replace its unique data identifier. Axie infinity lets you as the owner of the NFT, own that character, even when you’re not playing.
What is Axie Infinity Scholarship
Those who want to play Axie Infinity but lack the financial means may apply for a scholarship via the game’s website. Managers who have the needed SLPs or AXS tokens but not enough time to play the game typically bring in these academics.
Scholars, Managers and Guilds
One way people have avoided the high costs of joining, is to use Axies infinity’s managers and scholars scheme.
Managers are users who have either been playing the game since it first started or wealthy users, who have been able to purchase a large collection of axies. Managers give their axies to players who can’t afford the initial purchase price.
These players called scholars, then play the game using borrowed axies, earning SLP and AXS tokens. In return, the manager asks for a cut of what they earn. This can be anything from 10%-60%.
Managers and scholars can form guilds with other manager and scholars teams and take on bigger challenges.
Applications to become a scholar have become increasingly popular, as users recognize it as the most cost effective way of joining Axie infinity.
As with any cryptocurrency related venture, its important to remember that the value of your currency or NFTs can vary massively. Sky Mavis isn’t responsible for any money you lose, if the game goes under or if the value of AXS tokens or Ethereum drops.
It’s possible to put a lot of money into the game only to find that the value of your axies has decreased and they are not as profitable as they once were.
Axie infinity is rated 18+, however there is no age verification process. When you sign up to Axie, you do so via your crypto wallet, and the recommended wallet metamask does allow users under 18, if they have parental permission.
This is also the case with other crypto wallets.
The Manager / Scholar Model
Axies infinity is an easy way to make a lot of money without learning at home – in theory at least – but its now prohibitively expensive to even join the game, unless you join as a scholar.
Playing Axies infinity offers no job security. While some managers are interested in creating a community, others are likely to be interested in their own profit.
What Makes it Different from Other Traditional Games?
Axies infinity incorporates non-fungible tokens into the formula. An NFT simply puts a certification that a certain digital asset is the lone, original copy. NFT’s recreate scarcity in the digital world, leading to the perceived increase in value of a digital object which by it’s nature could be readily multiplied by simple copy pasting.
The monsters or the Axies in the game are NFTs. This means an Axies you create through the game’s breeding mechanics will be, by being minted as an NFT, a unique and original digital object.
The game creates an economy revolving around this axis or monster NFT’s. It takes real world time and effort to breed a monster NFT.
By playing and battling you earn tokens. These tokens can then be used to breed another monster NFT, again what the NFT minted does is that is ascertain the uniqueness and non duplicability of the digital asset, in this case the monster NFT.
The NFT is minted on the blockchain, where the data recorded is immutable and tamper proof. In essence the blockchain minting creates trust similar to a central bank ascertaining the value of fiat money and verifies that the monster NFT is the result of real world time and effort and therefore has value.
How Axie Infinity Economy Works
Axie is a brand-new kind of game that pays players for the time and work they put into both playing the game and expanding the game’s ecology.
Axie’s economy is based entirely on actual money, which all players have a stake in. As a result, the producers of the game do not concentrate on making money through the sale of game objects or copies. There will be a Community Treasury where AXS holders will decide how the funds are used. AXS tokens are a means of monetization for the developers.
You vcan read More detailed information about the Axie Infinity Economy on official whitepaper for depth understanding on How thw Project is built to operate on the short and long term.
How is the Axie infinity Economy Now?
The most affordable monster NFT costs around $200. A total of three gigantic NFTs would set you back approximately US $600 or roughly ₱30,000, which is what it takes to get started right now. In the Philippines, the demand for monster NFTs has led to an increase in their price.
How do Players Earn Playing Axie Infinity
Players can cash out the tokens they earn on a regular basis. There are two types of tokens in the game. Smooth love potion and Axie infinity shard. It’s the SLP that the players often earn and cash out.
The AXS is a proposed governance token which will, when it is implemented, allow owners to have a say in how the game is being developed. AXS Can also be won by participating in Arena season games
How do you make money in Axie Infinity?
There are a variety of ways to make money, among them:
- Breeding Axies (though it costs money to breed!)
- Earning Smooth Love Potion (SLP) by battling other players or by completing adventures
- Selling Axies: if you decide you do not want to play anymore, you can sell the Axies you bought. Though, they may not be worth the same price they were when you bought them.
If you have several Axies, you can even hire people called scholars to play and earn SLP for you, which can be a great form of passive income.
How to Breed Axie Infinity
It’s quite easy to breed in Axie Infinity. All you have to do is adhere to the guidelines outlined below.
- Select the Axie from your collection that you want to breed. Select ‘Breed’ from the drop-down.
- Selecting the second Axie for your breed will take you to a new window.
- Press the “Let’s Breed!” option on the second Axie in your inventory.
- An instant thereafter, your Egg will be in your possession.
What Is Breed Count In Axie Infinity
It’s called “Breed count” in Axie Infinity since it’s the number of times an Axie has had a child. Axies can only reproduce up to seven times, meaning that one Axie can only have a total of seven different breeds.
Breeding Axie is limited to seven times for each Axie. Breed count is 0/7 if no children have been produced by the Axie. A Virgin Axie is an axie with a breed count of 0/7. In general, the Axie is more valuable when there are less of its kind.
It is important to keep in mind that siblings and parents cannot breed with one other.