One of the most popular hobbies that boomed especially when the pandemic resulted in long-term lockdowns is playing games. Video games have had a steady boom pre-pandemic, but the gaming realm saw unprecendented growth in recent months. For most games, however, players would usually need to shell out money to advance in the game, but their in-game purchases don't really hold any value in the real world.
While some gamers earn by streaming, a new type of game has been giving many players the opportunity to earn just by simply playing. Axie Infinity, a Pokemon-like realm where players actually have the chance to convert their in-game assets into real-world currency, is currently gaining popularity, especially in the Philippines. Here's what you need to know about it:
What is Axie Infinity?
Created by Sky Mavis, Axie Infinity is a game where players can earn tokens by battling, collecting, and raising pets called Axies. The game is inspired by Pokemon and CryptoKitties and makes use of Blockchain to reward the players for "their contributions to the ecosystem." According to Axie Infinity's website, most of the players of the game are college graduates, parents, and even grandparents who are looking for alternative means of income during the pandemic.
How do you play Axie Infinity?
Axie Infinity is available on desktop or mobile (so far, the game is available on Android; it is currently on beta version on iOS devices). To start, you first have to sign up on Axie Infinity. You will also be required to have an Ethereum wallet. You then have to purchase your own Axies, and you will need three of them to play the game. Axies can go from 0.065 ETH and above, with some even selling at a more expensive price point.
The Axies you choose will be vital in the battles you'll play, so you have to be strategic in choosing and not just go for the cheap ones. The more expensive Axies are usually the ones that are stronger and have more chances in battles on advanced levels. Players also have the option to breed Axies, which may result into powerful and battle-ready ones you can use for battle or sell on the marketplace.
Some players have also started what is called as Axie scholarships, wherein they lend Axies to players who cannot afford them so they can try out the game. Normally, players who lend their Axies get a cut of the earnings for whoever they lend Axies to.
How do you make money on Axie Infinity?
Axie Infinity is dubbed as a play-to-earn game. It operates on Ethereum and uses its cryptocurrency Ether, which players can exchange into real-world currency. To make money on Axie Infinity, players can breed Axies, which are considered non-fungible tokens or NFTs, and level them up to sell for a competitive price on the marketplace, farm and collect Small Love Potions (SLPs) which are used to breed Axies and can be sold on the marketplace as well, or play and compete in battles to win leaderboard prizes, among other ways.
According to their website, the most expensive Axie ever sold on their marketplace is worth 300 ETH. While the value of cryptocurrencies can rise and drop at any given moment, 1 ETH is currently worth over P100,000, which can give you an idea of how much Axies are worth.
Is it worth playing?
Axie Infinity requires you to shell out money to start playing it, but as you play longer and learn the ropes of the game, you can eventually gain back the expenses you made and start earning more. It must be noted, however, that Axie Infinity is a strategic battle game, and you'd have to devote enough time to learn how it works and come up with a winning gameplan. While you earn items that can be swapped for cryptocurrency and, eventually real money, you also have to invest another important commodity: time. Additionally, the world of cryptocurrency has been characterized by rapid and often unexpected changes. Its rate fluctuates every few seconds, so there will be times when the value will skyrocket, and there will be moments when it will drop.
Many have attested to Axie as a true play-to-earn game. Some have even used it to earn extra income to provide food on the table, as seen on the recently released Axie Infinity documentary by Play-to-Earn. As with all other video games, play at your own risk.
Candy is now on Quento! Click here to download the app and enjoy more articles and videos from Candy and your favorite websites!