February 2022 guide to Axie Infinity
I
s it to good to be true, simply play a game to earn credits and make a living from it? We look at this exciting new evolution of gaming.
In this guide:
Disclaimer: All of the information written on Coincrop is without influence and based on our analysis. No guarantee is offered concerning the accuracy of this information and therefore, any individual following up on it does as such completely at their own risk. Rates are correct at time of publication.
What is Axie Infinity?
Axie Infinity is a digital pet community in which you buy creatures, these are called Axies. You use your Axie’s to battle, explore and breed with other Axies. This game has been developed by the gaming company Sky Mavis and runs through the Ethereum Network.
How this model is different and turning the gaming model on its head, not only are you playing a game (which is enjoyable) you can also generate an income from it, that is a fresh take on the gaming world and you can only assume that this is the way gaming will migrate towards.
As you can generate money from this game, which is aimed at adults, Axie Infinity allows users to earn money in several ways, e.g., selling SLP (smooth love potions), breeding rare Axies, and AXS staking.
What is rather refreshing from traditional games that you traditionally plat to win, Axie Players are refreshingly rewarded for their talent and effort. As Axies are a currency, players can breed creatures and trade or sell them, either for other crypto or real-world money.
AXS and SLP are two native protocol tokens in the Axie universe. Axie Infinity Shard (AXS) is the primary token that players earn and use to breed digital pets. It will also function as a governance token, which allows holders to have a say in the future of the game. Smooth Love Potion (SLP) is a gaming token that players can earn. You can earn some by defeating an opponent or completing missions in the game. The more you play, the more SLP you’ll be able to rack up.
How does it work?
Axie Infinity is a play-to-earn game that rewards players. There are animated characters called Axies, which players treat as pets. There are PVP (Player versus Player) battles, as well as breeding Axies, selling them on the Marketplace, and also collecting of rare Axies, these are all great ways to earn. Smooth Love Potions (SLP’s) are required to breed Axies. However, SLPs, just like all other cryptocurrency, which are highly volatile.
You earn AXS tokens by playing the game. This results in a Ready Player One-style quest in which players can gain access to a part of the universe. Players are rewarded for their talent and effort rather than their winnings.
As Axies themselves are a currency, players can breed creatures and trade or sell them, either for other crypto or real-world money. As a result, many gamers have turned it into a second job, using their in-game tokens to fund their rent and other expenses.
Axie scholarship?
The Axie community has grown in response to the game’s success. This has resulted in the Axie Infinity scholarship being established. This works with people who don’t have the time or skill to play a game, and they delegate this duty to scholars. Which is essentially the same as forming a business partnership. Owners invest the initial capital, while players invest their time in the game. Whatever profits they make from the game are then divided according to a predetermined ratio.
Should you invest?
As Axie Infinity is a new type of crypto-based game platform. AXS and SLP prices may be correlated to the game’s popularity; they may fall if players migrate to a competitor or lose interest. However, the coin has had big returns over the last year, having increased its value by over 7000% so is it a good investment, or have we missed the boat with Axie infinity? As ever your decision should be based on your risk tolerance, portfolio, and comprehensive analysis.
Earning rewards by saving
| Organization | Deposit assets | Reward assets | APY Rate |
|---|---|---|---|
| Finblox Saving |
|
| 80.0% - flexible |
| Swyftx Saving |
|
| 80.0% - flexible |
| Trofi Saving |
|
| 60.0% - fixed (30 days) |
| Trofi Saving |
|
| 50.0% - flexible |
| Vauld Saving |
|
| 40.0% - fixed (30 days) |
| Nexo Saving |
|
| 36.0% - flexible |
Axie Infinity (AXS)
Nexo (NEXO)
Jonathan
An editor at CoincropJonathan is a Crop Crop staff writer based in the UK, covering the best rates for cryptocurrency earning and borrowing products. When not at work, he's likely sailing.
