Axie Infinity is a play-to-earn crypto game universe that features its own NFTs and NFT Marketplace for trading. Players can play, collect, buy, sell, and trade NFTs through Axie Infinity, making it one of the best-selling NFT projects up-to-date.
NFTs or non-fungible tokens have become a million-dollar industry with thousands of digital collectibles selling almost every month. Most NFTs are built as art or PFPs that buyers can collect and benefit from the utility. NFT projects commonly give their holders community access, priority mint deals, and more but it is somewhat limited.
With the upcoming metaverse projects, the utility of NFTs has expanded from more than buying NFTs. These NFTs can become avatars that holders can use on the metaverses. However, the metaverse projects are still in the process of being made.
Axie Infinity takes the concept of NFTs, and metaverse and blends it together with cryptocurrency and the gaming world to create a universe of its own. In other words, Axie Infinity is a metaverse-like play-to-earn game offering users much more utility and uses than any other NFT project or game.
About Axie Infinity
Axie Infinity is mainly a crypto-based P2E game built on the Ethereum blockchain launched by Sky Mavis in 2021.
At the time of its launch, the crypto game attracted millions of users around the world on the marketplace. The users were highly impressed with the innovative and unique model of Axie Infinity that not only fulfilled the thrill of gaming but also gave something monetary in return.
Within months, the game received a long list of investments from world-renowned companies such as Ubisoft and Samsung.
Axie Infinity expanded itself and built a sidechain called Ronin that would save users from high gas fees on the Ethereum blockchain. Ronin enabled users to make transactions and exchange on-chain digital items without having to worry about gas fees and increasing the circulation value of the platform’s marketplace.
Axie Infinity NFT Marketplace
Axie Infinity NFT marketplace is home to trading and buying Axies, in-game avatar characters that make up the Axie Infinity universe. Users can buy, sell, and trade creatures, items, and land on the marketplace based on their preferences.
NFTs you buy from the marketplace are added to the game’s inventory which only you can access. The game gives you the legal right to own these game characters and use them as avatars.
Axies are the main creatures in the Axie Infinity game. These are animal-like characters that hold monetary value in the Axie Infinity NFT marketplace. Each Axie has its own rarity traits which makes them unique from other characters.
You can use Axies to battle, navigate through the game lands, or even create a new Axie on your own. What’s more? You can sell these Axies on the NFT marketplace via an auction or at a fixed rate.
However, note that the Axie Infinity NFT marketplace only offers one type of NFTs instead of a variety, which means people can only buy in-game characters and items. There is no digital art or PFP NFTs available on the marketplace.
How does the Axie Infinity game work?
Axie Infinity is a play-to-earn game which means you play and earn in cryptocurrencies. This is one of the biggest reasons for Axie Infinity’s popularity around the world.
Axie Infinity NFT game has two types of reward system, one through SLP or Smooth Love Potion and the second is AXS tokens.
SLP is used to breed Axies, while AXS tokens have more real-world benefits like trading for Axies or converting to fiat cash. AXS also has its own Staking Dashboard for holders to earn profit from the native token.
The game has two modes: Adventure and Arena.
In adventure mode, you can explore the lands and have to fight against in-game enemies called Ruins in a total of 36 levels to earn rewards. The SLP rewards are divided into levels:
Lvl. 1-4 1 SLP per win
Lvl. 5-9 2 SLP per win
Lvl. 10-14 4 SLP per win
Lvl. 15-16 6 SLP per win
Lvl. 17-20 5-10 SLP per win
Lvl. 21-36 10-20 SLP per win
Mainly, SLP is earned by defeating enemies, battling in the arena, and completing daily quests. You can receive 0-50 SLP for completing missions in Adventure. In arena mode, you can battle with other Axies and earn based on the level you fight against:
Lvl. 1-4 1 SLP per win
Lvl. 5-9 2 SLP per win
Lvl. 10-14 4 SLP per win
Lvl. 15-16 6 SLP per win
Lvl. 17-20 5-10 SLP per win
Lvl. 21-36 10-20 SLP per win
To battle online with other players’ Axies, simply go to the Arena area and challenge any person. You will earn SLP based on your MMR (Matchmaking Rating). The higher a player’s MMR, the more SLP they will receive. If you win, you get 15-20 trophies, but if you lose, you lose the same amount of trophies.
However, to play for each mission, you need energy or XP. Every player earns energy based on the amount of Axie NFTs they own. If a player owns 3-9 Axies, they get 20 energy, and a refresh of 5 every 6 hours; 10-19 Axie owners receive 40 energy every 3 hours with 5 refreshes; +20 Axie holders receive 60 energy plus a refresh of 5 every 2 hours.
How do Axie Infinity NFTs work in the game?
Axie Infinity NFTs are avatars for the game. Just like any other game where players control their avatars, complete missions, and earn rewards, the Axie Infinity game works the same way.
The only difference is the players own their characters and they can earn crypto as rewards.
How to buy Axie Infinity NFTs?
Axie Infinity NFTs can be bought through a crypto wallet called Ronin Wallet. Users need to convert their funds into Ethereum and transfer them to their Ronin wallets.
The Ronin wallet works the same way as any other crypto wallet. If you want to make a purchase simply click on the character or item you want to buy from the Axie Infinity NFT marketplace and connect your wallet for purchase.
If you are a new user, the Axie Infinity game requires you to buy 3 Axie Infinity NFT, Axies; each costing around $1,500. Although the game has also developed a cheaper version of the game for users who can’t afford it, it is available on mobile apps.
Here’s a step-by-step guide on how you can buy Axie Infinity NFT:
- Buy Ethereum coins in your MetaMask wallet
- Go to the Axie Infinity official website and create an account, also sign up for a Ronin Wallet
- Transfer Ether coins from your MetaMask wallet to your Ronin wallet
- Go to the Axie Infinity NFT marketplace and surf through various Axies available
- Click on your chosen Axie and select purchase
- Once the transaction is complete, the NFT will be moved to your inventory
- Now, you are ready to play the Axie Infinity game with your Axie!
You can also sell Axie NFTs you breed or buy from the platform. Axie Infinity NFT charges a 5.25% marketplace fee to the seller but no fee for the buyer. This means you can buy Axie Infinity NFT for the original price but will receive a lesser amount when you sell. Nonetheless, all the marketplace fees go to The Community Treasury that is awarded to the AXS token holders. So, in a way, it ultimately comes back to you if you are part of the AXS holder community.
How to earn cryptocurrency on Axie Infinity NFT?
Axie Infinity offers two ways to earn cryptocurrency on its platform. You can either trade Axies on the marketplace or you can earn rewards in the game in the form of cryptocurrencies.
Axie Infinity has its native token, AXS, which is exchangeable on the crypto exchanges with other cryptocurrencies. The game also offers AXS holders access to their exclusive community where they can control the decisions about the game through governance vote.
One of the most common cultures in Axie Infinity community culture is hiring players. To be precise, investors buy Axies with their money and then pay people from third-world countries to play the game and earn rewards for them.
Is Axie Infinity NFT a scam?
The recent news of Axie Infinity being a scam has been circulating on the internet. Axie Infinity is a well-known platform and ranks among the top NFT projects in the world. It even rivals Bored Apes and CryptoPunks in terms of its market volume trade.
Axie Infinity NFT is not a scam, in fact, it is a proper ecosystem run by a well-known gaming developer company. All of the earnings and proceeds are circulated within the game platform and the only reason for its hyped popularity is because it is an authentic play-to-earn game that offers cryptocurrency as a reward.
Other NFT projects and games have tried following the same model, but Axie Infinity still remains on top because of its perfect and well-planned economic model.
However, Axie Infinity has suffered in the hands of hackers. A few months ago, Axie Infinity’s Ronin bridge was exploited and hackers stole over $620M. Furthermore, the game also came under the radar of being a tokenomics scam when the company changed its stance from “play-to-earn” to “play-and-earn”.
Despite these scandals, Axie Infinity continues to dominate the NFT market. The company has defended the game by saying that people’s approach to the game has been wrong which cost them a loss. Instead of thinking of it as a money-making business, the players should treat it like a game because it has been built with that model.
Pros and Cons of Axie Infinity NFT
Before you consider playing Axie Infinity and investing your money in the Axie NFTs, it is important to balance the pros and cons of the game.
Axie Infinity NFT marketplace works differently from regular NFT marketplaces because this marketplace is connected directly to the game and the whole tokenomics on which the game is running. Once you understand the model, you can find opportunities to benefit from the crypto game.
Pros
- P2E game: Axie Infinity is a game worth your time. Instead of just playing and winning, you’re actually winning awards in the form of an SLP or AXS token, both having utility in IRL and on the NFT marketplace.
- Own your avatar: Unlike other games where you have the same characters as others, Axie Infinity offers a unique Axie NFT as an avatar that you own and can breed to create another Axie.
- Focused marketplace: Axie Infinity NFT marketplace is only focused on providing items, lands, and creatures related to the game and nothing outside. You can buy, trade, and sell NFTs within the marketplace and earn money.
- No buyer’s marketplace fee: Buyers can buy their favorite NFTs on Axie Infinity marketplace with zero marketplace fee. This means they buy at the original price instead of paying an extra amount.
Cons
- Only one NFT type: World-leading NFT marketplaces offer a wide range of NFTs such as digital art, music, audio, trading cards, etc. but Axie Infinity NFT marketplace only offers one type of NFT. This can be a disadvantage to those who want to trade other types of NFTs.
- Seller’s marketplace fee: Although Axie Infinity doesn’t charge a buyer fee, it does charge a high marketplace fee for the seller.
- Multiple wallet requirements: Players are required to have at least two wallets to buy NFTs for the Axie Infinity game. Metamask to buy Ethereum while Ronin wallet to buy with Ethereum because the marketplace runs on the Ronin sidechain.
- Fixed earnings: Axie Infinity game offers rewards but these rewards are fixed by the developers, which means you will only receive the stated amount and no more than that.
- Buy 3 Axies: The entrance to the game is quite expensive. If you want to play the game, you need to buy 3 Axies from the marketplace first, which can cost a lot for someone who is trying for the first time.
Final Verdict
Axie Infinity is a leading crypto game that rose to popularity within a year of its launch. According to the recent data gathered by cashnetusa.com, the Axie Infinity NFT game tops in 112 countries around the world; this shows that people from most countries are highly interested in this game.
Many people find tokenomics and the overall model of the game too hard to understand. Furthermore, since Axie Infinity is a popular game, the community is also very competitive and requires users to be deeply involved in order to survive.
If you are looking for a blockchain-based P2E game, then Axie Infinity is a perfect choice. But if you are interested in just NFTs, we recommend trying out OpenSea or Rarible NFT marketplace.
Although the Axie Infinity NFT marketplace is a valuable platform, it is only limited to game characters and items.
Axie Infinity is a good game to try out but that doesn’t mean you should invest all your savings and earnings in this game. Additionally, it is important that you do your personal research on the game before you fully invest your effort and time in it.
