Axie Infinity and the Changing World of Blockchain Gaming
By Gabriel Negrin
Let's take a trip down memory lane. Do you remember the times of Pokemon? Do you remember how much time you spent playing it?
Imagine if you were paid for each Pokemon you earned and bred. Imagine the amount of money you would have today if you were paid for every hour you spent playing the game.
Sounds like a dream, doesn't it? Well, dreams do come true. Everything thanks to the blockchain and a concept that many dreamed of -- "Play-To-Earn" gaming.
The cryptographic world and video games have always been heavily involved, and how could they not be? The vast majority of crypto heads grew up playing Legend of Zelda, Pokemon, and many others.
In the beginning, many used cryptocurrencies to buy bundles of video games. Yet the crypto world took this link to a new level. Here's where play-to-earn enters the game.
What Is Play-to-Earn?
Play-to-earn is a somewhat self-explanatory concept.
Play-to-earn is a type of video game based on the blockchain. Here, players can receive cryptographic rewards depending on their progress in the game.
However, to play, players must buy a character. These characters are non-fungible tokens (NFT). These NFTs are your key to access all the activities available within the platform.
So, the money the NFT is worth is more of an investment that you could soon recover. Also, by having the NFT, your money will have the value you give to the NFT itself.
Play-to-earn gaming has been the cryptographic sensation of the last few months. There are hundreds of platforms with different purposes and diverse game modes.
However, one has become a phenomenon. One of these platforms has managed to stand out above all others.
What Is Axie Infinity?
Axie Infinity is a Player-vs-Player type online game based on the Ethereum blockchain. It was created in 2018 and since then, its development has not stopped.
Get into the game. To play, you will need at least three Axies, the NFT game characters. Here, you improve your Axies by playing the game, facing other users, and breeding your Axies.
When you face another player, you battle and get rewards for it. These rewards in turn serve to improve your Axies so you can win more battles and get better rewards.
Every time you improve the unique attributes of your Axies, you will level up. But as you level up, your opponents will become stronger and stronger.
What Are AXS and SLP?
Within the game, you have two tokens necessary for the operation of the game: AXS and SLP.
Axie Infinity Shard (AXS) allows players to receive rewards for their participation in the game. It is also a token that gives governance power and you can stake it to have more rewards.
It has a limited supply of 270M tokens. This coupled with a growing user base means that its value could increase steadily.
In a nutshell, AXS is the representation of Axie Infinity as a project.
Now, the Small Love Potion (SLP) is completely different.
SLP comes to be the currency within the video game. It is the token you receive as a reward for battles won and tasks completed. It is also the token you will use to upgrade your characters and breed them.
The higher your SLP spending is, the higher your future rewards will be.
How Do People Make Money with Axie Infinity?
Well, we already know that you can get SLP if you do well in the game. But the value of SLP is not comparable to the in-game coins that some traditional video games force us to buy to have an advantage.
SLP has real value. You can withdraw your SLP and exchange it for Ethereum (ETH) or any other currency you like.
Your earnings depend on the level of your Axies and the time you spend playing.
You have three daily activities: completing the daily check-in, 10 Adventure mode levels, and winning 5 Arena matches. Doing these three activities guarantees 50 SLP per day.
However, top players can keep playing until their energy runs out and earn between an extra 50/150 SLP.
At the same time, investing SLP in upgrading your Axies is good business. If you don't want to keep playing, you can sell them for a higher price.
How to Obtain a Axie Infinity Scholarship?
Such has been the boom of Axie Infinity that many people in countries with economic crises have opted to farm SLP.
But, there is a problem: Axies is not easy to afford. You need to buy at least three and that can be 600 dollars or more for low-level Axies.
Therefore, the Axie community has organized itself to offer scholarships to new players who cannot afford Axies.
In these scholarships, players receive Axies on loan to play and earn SLP. These earnings are split between the player and the owner of the Axies.
When you get a scholarship, you must commit to learning all the necessary skills of the game and split the winnings as determined.
If you are interested in looking for a scholarship, you can go to the Axie Infinity Discord and explore the scholarship section. Of course, that is if you can get in — the official Discord has reached 800K users and it can be difficult to join.
After all, this can be a good side hustle if you like video games. All signs point to Axie's continued growth. And while you couldn't get in before when the rewards were better, you can still catch the train.