Earn Six Figures Playing This Video Game
Axie Infinity has more active users than any other game on Ethereum, valued at $30 billion making it the top 5 most valuable video game companies.
The game was inspired by the classic Pokemon series. Instead of Pokemon, the game is built around non-fungible tokens (NFTs) called Axies. Axies are one of the only types of NFT that can make you money beyond simple price speculation.
Players can purchase Axies with WETH and then breed or battle other players for crypto rwwards. To breed new Axies, players need to use Small Love Potion (SLP) and Axie Infinity Shard (AXS) tokens.
Recent Surge in AXS Price
There are a few reasons for the recent surge in AXS price over the past two weeks include the introduction of staking features for the AXS token, the release of a community airdrop early adopters and the increasing popularity of play-to-earn gaming protocols.
In an effort to capture some of this momentum, the team at Axie Infinity announced the launch of staking capabilities on Sept. 30. This electrified members of the community, and to date, holders have already staked nearly 10.5 million AXS in just two days.
In addition to everyday users, larger organizations have also been joining this juicy opportunity.https://cdn.embedly.com/widgets/media.html?type=text%2Fhtml&key=a19fcc184b9711e1b4764040d3dc5c07&schema=twitter&url=https%3A//twitter.com/yieldguild/status/1443944387164180484&image=https%3A//i.embed.ly/1/image%3Furl%3Dhttps%253A%252F%252Fabs.twimg.com%252Ferrors%252Flogo46x38.png%26key%3Da19fcc184b9711e1b4764040d3dc5c07
Axie Infinity is currently offering an APR of 240% for stakers with the rewards coming from a dedicated pool of 78.3 million AXS tokens that have been set aside by the team.
AXS airdrops tokens to early adopters
Another reason for the spike in price and activity for AXS was this week’s community airdrop which rewarded users who engaged with the protocol prior to October 26, 2020.
According to the team, 10,000 wallets were selected based on a snapshot that was taken on Oct. 26 to receive a share of the 800,000 AXS airdrop, depending on the wallet’s level of activity.https://cdn.embedly.com/widgets/media.html?type=text%2Fhtml&key=a19fcc184b9711e1b4764040d3dc5c07&schema=twitter&url=https%3A//twitter.com/axie44/status/1443620063794315267&image=https%3A//i.embed.ly/1/image%3Furl%3Dhttps%253A%252F%252Fabs.twimg.com%252Ferrors%252Flogo46x38.png%26key%3Da19fcc184b9711e1b4764040d3dc5c07
The Rise of Play-to-Earn Gaming
The P2E gaming ecosystem has been gaining momentum in recent months as users begin to discover the benefits of playing a game that rewards participation, as opposed to the dominant free-to-play model which offers in-game purchases but leaves users with little to show after months of gameplay and investment.
How Can you Earn Money from Axie?
You’ll need to own at least 3 Axies to play the game and start accumulating SLP and AXS tokens.
Through agreements called scholarships, it’s possible to play and earn SLP without owning Axies yourself. Anyone with extra Axies and too little time to play the game can hire players, called scholars, to earn SLP on their behalf. They allow the player to use a team of Axies and divide the rewards by an agreed-upon split, usually 70/30, 60/40, 50/50 etc. However scholarships are incredibly rare to find.
Breeding Axies may be the most profitable way to use Axie Infinity. You need 2 Axies that haven’t been bred much before. Breeding costs 4 AXS and an amount of SLP that scales with how many times both NFTs have been used for breeding already. After breeding you can earn a hefty amount of Ether by selling them on the Axie marketplace where the lowest price for one Axie is 0.1 ETH.
Overall, the easiest most sure way to earn on the Axie platform would be to stake your AXS. To do so you’ll need at least a couple hundred USD to account for ETH gas fees, but within a year your investment will likely be worth it.