Understanding Axie Infinity: An Introduction to the Gaming Metaverse Project
Every gamer has the fantasy of making money while playing video games, but in the normal sense of the word, only professionals succeed in doing so.
The P2E business model is beginning to make it possible for people to earn money while playing games they enjoy, though the pace of change in the cryptocurrency world is rapid.
You can study the token Axie Infinity to better understand this growth. The game may be something you already know about, but you want to learn more.
The definition of Axie Infinity, its background, and how to play are all covered in this guide. Let’s get started!
Axie Infinity Overview
Axie Infinity is built on Ethereum’s blockchain, which means that Axies are stored there and can be bought, sold or traded in a decentralized manner. Additionally, this means that the group of players who own axes control them rather than a single central authority.
Axie Infinity is a hybrid of cryptocurrency and Pokémon. It allows players to nurture, battle, and trade adorable NFT creatures called Axies. The game’s native cryptocurrencies—Axie Infinity Shards (AXS), which can be purchased and traded on exchanges like KuCoin, and Small Love Potion (SLP), which is given to players for participating in the game—are its two currencies.
The game’s design as a metaverse platform allows for a variety of gaming experiences, including player interactions. As a result, Axie Infinity provides an attractive offering to investors and gamers alike.
The Development of Axis Infinity
Sky Mavis, founder of the Ronin sidechain, created this Ethereum sidechain to form the foundation for Axie Infinity. Sidechains are scaling solutions developed to address network usability concerns that may occur when public blockchain networks are overloaded.
These challenges include, for instance, transaction confirmation times that are too long and transaction fees that are too high. The Ethereum network will power Axie Infinity, but with modifications made to better serve the demands of the game.
Explaining the Axie Infinity’s tokens (AXS and SLP)
The Axie Infinity network’s two tokens are called Smooth Love Potions (SLP) and Axie Infinity Shards (AXS). The network’s own currency, the AXS coin, is used to compensate ecosystem participants. One of the most widely used metaverse coins at the moment is Axie Infinity Shards (AXS).
As a player purchases an Axie, the Axie Infinity ecosystem generates an ERC-20 token called AXS. The Smooth Love Potion (SLP) is used as the main currency for transactions in the game, including buying and selling Axies, buying property and other items.
How to begin with Axie Infinity?
The first step for players is to go to the Axie infinity official website and select “Play Now” in the top-right corner of the page. Following that, users must create a Ronin wallet, which enables them to buy Axies from the Axie marketplace using AXS, USDC, or SLP.
Using different DEX available on the market, players can add money to their Ronin wallets. The next step is for players to create an Axie infinite account.
To do this, click on “Dashboard” in the window’s lower left corner, then select “Setup Email & Password.” Players will be able to download and install the Axie Infinity application once the procedure is finished.
The final step after starting the game is for players to sync their Axies. To do this, click on “Axies” in the bottom-left corner of the window. A screen will appear; click on “Sync Axie” to finish the procedure.
All of the major operating systems, including Android, iOS, Windows, and macOS, support Axie Infinity.
How can I make money in the NFT gaming metaverse of Axie Infinity?
The most straightforward way to make money in Axie Infinity is to sell Smooth Love Potion, an in-game item. New players can gain Smooth Love Potion by harvesting it from the game’s creatures and selling it on the Marketplace when the cryptocurrency prices are favorable.
To assist new players in navigating the Marketplace, the Axie Infinity team has produced a thorough guide. Another way to make money in Axie Infinity is by competing in tournaments that offer prizes like axes, land, and other in-game items.
In Axie Infinity, what does a scholarship mean?
Axie Infinity uses the term “scholarship” to refer to a type of passive income, much to owning a franchise.
In Axie Infinity, as mentioned earlier, one can battle with a squad of three (3) Axies. Once you have more Axies, either from breeding or purchasing them on the open market, you can give those extra Axies to other individuals and let them battle using your team in exchange for SLPs.
These are called scholarships, and Axies are frequently awarded them. The situation is almost always beneficial to both parties: the manager receives a student who will likely bring positive attention to their organization, and the student will be rewarded with money, experience, and prestige.
On the Ethereum blockchain, the Axie Infinity project is a large-scale gaming metaverse. The idea has a great deal of promise and is already popular in the NFT industry.
You need to learn the game’s intricacies by heart and from other players’ blunders if you want to master it and become successful at Axie Infinity. It’s equally crucial to understand that activities like this are always risky, though, rather than only focusing on being a successful player.