Play-to-earn games have been a massive trend in recent years; this is because of their unique proposition, which allows players to make money while having fun with video games. One of the biggest hits among these games is Axie Infinity, a game based on blockchain technology that has captivated gamers worldwide. Axie Infinity was a phenomenon in 2022, as it became one of the top and most profitable NFT pc games ever.
The game features adorable creatures called Axis that can be battled, bred, and traded. It reached a staggering $16.7 billion market cap and a whopping $3.1 billion in revenue in March 2022. But nothing lasts forever, and Axie Infinity faced a tough challenge from the crypto market downturn, which affected its performance significantly.
Let’s explore what Axie Infinity is, how it generates profit, and why it has become so successful.
What is Axie Infinity?
Axie Infinity is a blockchain-based game created by Sky Mavis, a Vietnamese blockchain gaming company. The game revolves around creatures called Axies, which are digital pets that players can collect, breed, and battle. The core gameplay mechanics of Axie Infinity are turn-based battles, similar to games like Pokemon and Magic: The Gathering.
Players can earn rewards in Axie Infinity by participating in battles and completing quests. These rewards come in cryptocurrency, precisely the game’s native token, AXS, and a stablecoin called SLP. In addition to cryptocurrency, players can earn non-fungible tokens (NFTs) as rewards. These NFTs represent unique and rare items that can be used in the game or sold on the open market.
How does Axie Infinity generate profit?
Axie Infinity has several ways of making money. The primary method is by selling items in the game. Players can use cryptocurrency to buy things like Axies, land, and other virtual goods. The market determines the value of these items, and they can change a lot depending on supply and demand.
The company also makes money by selling NFTs. These NFTs can be traded on the open market for real-world currency, and Sky Mavis gets a cut of each sale as a fee. This fee, called a platform fee, is a significant source of income for the company.
Finally, Axie Infinity earns money through transaction fees. Every time players trade an item on the Axie Infinity marketplace; they’re charged a small fee. This fee goes to Sky Mavis, giving another source of income for the company.
Why is Axie Infinity so profitable?
Axie Infinity owes its success to many factors. One of the most important is how it has helped people in the Philippines and Venezuela – countries with many economic and social problems. Axie Infinity has allowed many people to make money by playing the game. This has been a blessing for those who struggle to find work or earn enough money.
Another factor that has made Axie Infinity successful is the P2E model. This model especially appeals to players in developing countries, where finding work may be challenging. By playing Axie Infinity, players can make real-world money from their homes, which is an excellent option for those who don’t have other job options. But the game is also popular in first-world countries. It is one of the best play-to-earn games in the US, with almost 6% of Axie Infinity’s players coming from this region.
Also, Axie Infinity’s lively and passionate community has helped it grow. The game is very active on social media platforms like Twitter and Discord, and the community is always coming up with new ways to play and enjoy the game. This level of involvement has created a feeling of belonging around Axie Infinity, making it more popular and successful.
How to get started with Axie Infinity
Getting started with Axie Infinity can be overwhelming for crypto newcomers.
However, following these steps can help players get started:
- Set up a crypto wallet: As mentioned earlier, Axie Infinity uses cryptocurrency and NFTs as rewards, so players need to set up a crypto wallet to participate. Players can use wallets such as Metamask or Ronin Wallet, which are compatible with the Ethereum network and Axie Infinity.
- Purchase Axies: Players need to purchase Axies to start playing the game. Axies can be bought from various marketplaces such as Axie Marketplace, OpenSea, and Binance. Players can buy Axies with a particular skill set or trait, depending on their play style and strategy.
- Start playing: Once players have purchased their Axies, they can play the game. Players can earn SLP and other rewards by participating in battles, quests, and other in-game activities. They can also earn rewards by staking their Axies on land plots or participating in governance decisions.
- Join a community: Joining a community can help players learn more about the game, find partners for battles and quests, and stay updated with the latest news. Players can join various communities on social media platforms such as Discord, Twitter, and Reddit.
- Explore the ecosystem: Axie Infinity has a vast ecosystem, and players can explore various aspects of the game. They can participate in governance decisions, stake their Axies on land plots, breed new Axies, and even create their own games on the platform.
Conclusion
Axie Infinity has become one of the most popular blockchain games due to its unique concept, engaging gameplay, and innovative use of blockchain technology. The game’s success can be attributed to several factors, such as its early adoption in developing countries, the appeal of the P2E model, and its active and engaged community.
Blockchain games like Axie Infinity can disrupt the traditional gaming industry due to their unique approach to gaming. As more players discover games these games, we can expect more competition and innovation in this space.
If you wish to dive into the Axie Infinity ecosystem, following the guide here would set you on the right path. Be sure to join a community and start exploring the ecosystem. With patience and dedication, you will begin earning SLP and other rewards in no time
