Have you ever heard of making money while playing an NFT game? NFT games are well known these days.
But first, What are play to earn games? Play-to-earn games allow players to generate an income through cryptocurrency simply by playing the game. Players are the ones who create value for other gamers and developers by engaging in the in-game ecosystem and earning assets for their contributions. When people hear about play-to-earn games, the first thing that comes to mind is Axie Infinity.
What is Axie Infinity? Axie Infinity is the first well-known NFT game in 2021. It is like Bitcoin in NFT games. It was developed by Sky Mavis and founded in early 2018. It is classified as an NFT game that allows individuals to earn money by playing the game, breeding, and trading Axie monsters in the marketplace.
Its mission was to function as a fun, educational way to introduce blockchain technology. But how does it work? Axie Infinity provides a play-to-earn structure. Players can earn money by competing in PVE and PVP battles, breeding tasks, and selling them to the marketplace. Do note that when breeding axies, you need Smooth Love Potion (SLP). According to Axie Infinity developers, players can also earn governance tokens or AXS.
The question is, how do I start? You need to access their website and create wallets like Metamask and Ronin Wallet. You also might need to make an initial investment to play, such as setting up a team of characters or purchasing items used in-game. Entering a digital crypto-economy usually isn’t free.
There are ways for you to be able to buy Axies. You can buy it directly on the marketplace using WETH or buy SLP and then swap it into Katana. You should acquire three Axies to create a team and play the game.
Another option is to look for so-called scholarships, where you can basically borrow Axies from another player for free and then share the income you get with that player (referred to as the manager). The managers and the scholars tend to share the profit percentage, depending on what rate they talked about. Are play-to-earn games profitable? The answer is “Yes.” However, it would be best to use the funds you are ready to lose. You should always be careful, though, as many games can be high-risk, unsustainable due to bad tokenomics, or even scams.
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I'm Carina, a passionate crypto trader, analyst, and enthusiast. With years of experience in the thrilling world of cryptocurrency, I have dedicated my time to understanding the complexities and trends of this ever-evolving industry.
Through my expertise, I strive to empower individuals with the knowledge and tools they need to navigate the exciting realm of digital assets. Whether you're a seasoned investor or a curious beginner, I'm here to share valuable insights, practical tips, and comprehensive analyses to help you make informed decisions in the crypto space.