Original title: "Tutorial 丨Leading the Play to Earn Mode: One article to understand the five correct ways to play the popular chain game Axie Infinity", author Glendon
Axie Infinity is all the rage these days.
Over the past seven days, the NFT-based game has generated more than $39 million in revenue, which is almost more than Bitcoin and Ethereum combined.
what is the reason? Well... first of all, it's a fun game.
Second, there are tons of opportunities for gamers. Axie Infinity and crypto gaming in general are pioneering the Play to Earn model in gaming.
When you play the game, you can get digital assets. These digital assets have real value (and rising), which means you can sell them while you work for actual digital cash.
So how exactly do people make money?
Here are 5 opportunities ranging from play to earn, to active LP on Uniswap V3, to passive staking of AXS tokens (coming soon).
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Photo: Logan Craig
Photo: Logan Craig
Leading NFT game Axie Infinity is now facing a booming economic opportunity.
However, let's be clear: there is a right way and a wrong way to approach these opportunities. So, this Bankless strategy will show you how to play and earn smartly in Axie Infinity.
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2 Axie Infinity: A New Economy
According to data from Token Terminal, Axie Infinity has generated gross revenue worth over $39 million between July 10 and July 17, 2021.
The numbers are pretty staggering, with ethereum and bitcoin totaling $37.9 million and $4.7 million, respectively, over the same time period.
Not only did Axie Infinity bring in fees this week that surpassed the two most popular blockchains in the crypto economy, it nearly surpassed the combined fees of those two blockchains.
So, while some are joking that bitcoin is as petrified as a pet rock, the fact is, at least for now, that a digital pet-fighting adventure game on ethereum has decimated the top cryptocurrency's revenue.
Of course, this is no ordinary game. It’s Axie Infinity, a project that has become a shining example of how putting your head down in previous crypto market bear markets can pay off big today. It also pioneered a new kind of game design: Earn as you play.
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3 Don't be a tourist
Axie Infinity is far from a "get rich quick" scheme. In fact, the people doing the best work on Axie right now are dedicated players and community members who have been committed for a while.
That said, if you're coming to Axie Infinity with a tourist in mind - just dropping by for easy money, then you're likely to be disappointed.
why? Because Axi has its own unique nuances and complexities. Don't be fooled by the game's cute aesthetics, its combat is like chess and requires quite a bit of strategy to win. In addition, the Axie economy is a breathing organism, and the prices of Axies and in-game AXS and SLP tokens are constantly fluctuating.
In other words, success and profitability are not guaranteed. You may even end up losing money if you jump into the game without paying attention to the subtleties of the game.
For best results, play Axie Infinity because it's fun. By carefully studying the mechanics of the game, this will allow you to be among the first in the world to gain professional experience in a "money-as-you-play" game.
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4 How to benefit around Axie Infinity
So you're really interested in Axie Infinity and want to learn more about the game's various economic opportunities. Below I have selected five strategies that you can consider. The first four are currently available, with the final "AXS Staking" coming soon.
Opportunity 1: Play to Earn
A natural start to using Axie Infinity is to play with it.
The coolest part is that after winning battles and completing quests, you'll earn in-game Smooth Love Potions (SLPs), which currently trade for about $0.26 per SLP, and are necessary to breed Axies.
Task
Task
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adventure mode
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arena mode
You can also test your resolve with best fights against other real players. This is also the purpose of the game, so the trainer gets SLP for every victory in the arena.
At this point, you need to keep the following in mind:
The upcoming Battles V2 system will include free "starter" Axies for you to use, but before that, you'll have to first buy (or borrow) 3 Axies to create a team and start playing.
The main hub for buying Axies is the official Axie Marketplace, which is now located on the game's custom Ronin sidechain. For a quick guide on migrating assets to Ronin, check out the video tutorial below by Axie Infinity co-founder Jeff "Jiho" Zirlin.
Download Mavis Hub Launcher directly from axieinfinity.com, it is used to launch and update Axie Infinity.
Opportunity 2: Breeding Axies
Another economic opportunity in the Axie Infinity universe is through breeding Axies. As you breed more Axies, you can sell, loan, and create Axie scholarship teams (you let other players use your Axies in exchange for a non-exploitative cut of the SLP they earn) from your inventory.
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Image from "Axie Infinity" white paper
Quick Guide: How to Breed Axies
Note: This quick start guide assumes that you have already migrated the necessary assets to Axie Infinity's Ronin sidechain.
1. Select the Axie you want, and click on its profile page"Variety"button. Enter the two Axies you want to breed, and you're ready to go. click"Let's breed!"
2. You will receive a prompt in the Ronin wallet asking you to approve the breeding fee and press "Confirm".
3. Once this transaction is confirmed, you will receive a newborn Axie egg in your inventory.
4. After you've bred Axies and laid eggs, it takes 5 days for them to be ready to molt into a mature state. When this time has passed, go to the inventory in Axie's Market and click on the egg of your choice.
5. On your new Axie's profile, click the "Morph to Adult" button. Your Ronin browser wallet will prompt you to sign a transaction. according to"confirm"to complete the signature. The metamorphosis process takes a few minutes, and then you have a new adult Axie.
Opportunity 3: Provide liquidity for Axie tokens
We’ve discussed how SLP can function like Axie Infinity’s utility token, and then AXS – the game’s native governance token.
Both of these assets are important to Axie Infinity, so as the game develops, so will the demand for these tokens. One way to participate in the Axie Infinity economy is by fulfilling this need by serving as a Liquidity Provider (LP) on a leading decentralized exchange.
In particular, you might consider providing liquidity to:
Uniswap V3 AXS/ETH pool
Uniswap V3 SLP/ETH pool
Sushi AXS/ETH pool
Something to remember: by being an LP in these pools, you take the risk of impermanent losses, but you also earn transaction fees and maintain exposure to the rising Axie Infinity economy.
Opportunity 4: Invest in Rare Axies
Do you think Axie Infinity will continue to thrive? And will its rarest Axies last like fine wine?
If so, one potential way to make money is through speculation on fractional Axies, (i.e. Axies that have been "sharded" into many fungible ERC20 tokens to make collective ownership easier).
In this area, there are two approaches to consider: single Axies that are differentiated, or collections of Axies that are differentiated.
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Unique Almace
Opportunity 5: AXS Staking (coming soon)
Remember how we started this strategy by noticing how Axie Infinity has been bringing in incredible revenue lately?
These revenues are owned by the Axie Infinity community treasury, governed by the AXS token. With the upcoming launch of the game’s AXS staking system, these lucrative revenues will begin to be distributed to players who stake their AXS.
How about such passive income?
It is speculated that AXS staking may be launched later this year, which is worth keeping an eye on.
5 Conclusion
Axie Infinity is full of opportunities right now, and to make the most of them, approach this NFT game with the same dedication and curiosity that you'll quickly become a savvy veteran. Of course, the journey to Axie Infinity is a frontier with risks (price fluctuations, impermanent losses, etc.) that require caution and hard work.
This article is from The Way of DeFi and is subject to reprinting.
