Axie Infinity: Step-by-step guide on how to use it

Axie Infinity has recently taken the world by storm with its straightforward yet captivating NFT-based game. Players worldwide engage in this game, earning Ethereum on its native marketplace. Digital entrepreneurs view it as a prime example of a successful marketplace to emulate. In this article, we'll explore the key aspects of Axie Infinity and discuss how you can establish a comparable business in the digital marketplace.

What Is The Axie Infinity?

Axie Infinity stands as a leading fantasy creature-based computer game. In this digital realm, players nurture virtual pets on their own virtual land. The game operates with two ERC-20 tokens: Smooth Love Potion (SLP) and Axie Infinity Shards (AXS). Players can acquire SLP tokens either by purchasing them or earning them in Adventure or Arena modes. AXS tokens, on the other hand, serve as governance tokens and are mainly used for breeding new Axies. The breeding process in Axie Infinity involves a fee of 0.005 ETH per session, in addition to 'gas', which is the internal fee of the marketplace. Moreover, at least three aphrodisiacs are required for successful breeding. All virtual lands and items in Axie Infinity are NFTs based on Ronin, a sidechain of Ethereum, and can be traded on the Axie Infinity Marketplace. Additionally, a cross-chain bridge facilitates the movement of assets between Ronin and Ethereum networks.

Axie Infinity Game Features

Axie Infinity, a prominent game in the NFT space, boasts four key elements: combat, breeding, land, and the marketplace. The combat aspect is a strategic turn-based card game where players aim to defeat their opponents with teams of three Axies. These Axie NFTs come with unique attributes, fitting different roles within the game.

Axies fall into several classes, including animals, aquatics, plants, moons, stars, reptiles, insects, birds, and nuts. Players can breed these Axies either for trading or to strengthen their battle teams. To maintain a balanced in-game economy and control Axie population, each NFT Axie can be bred a maximum of seven times. Breeding costs 0.002 ETH per attempt, and requires Smooth Love Potion (SLP), an ERC-20 token that players can either earn in the game or trade on decentralized exchanges (DEXs).

Lunacia, the virtual 'Homeland' of Axie Infinity, is divided into 90,601 land plots. Each plot is an ERC-721 token and serves as a home base for Axies. These plots can be upgraded using items from the Axie Marketplace, enhancing their utility and value. Additionally, the Axie Infinity ecosystem includes a feature for trading SLP, providing players with more avenues to engage with the game's economy. This dynamic blend of gaming and finance illustrates the growing intersection of NFTs, gaming, and decentralized finance (DeFi).

Why Users Like Axie

The Axie Infinity platform has rapidly risen to prominence as a unique example of leveraging blockchain technology in gaming. This platform allows users to mine cryptocurrency through gameplay, and its popularity stems from several key factors:

Players have the opportunity to earn money both through the Axie marketplace and in esports tournaments, creating a lucrative environment.
The platform boasts a robust and engaged user community, fostering a strong sense of connection and competition among players.
Strategic partnerships with globally recognized brands such as Samsung and HTC, along with collaboration with gaming giant Ubisoft, have solidified Axie Infinity's market position.
The development team, known for their expertise and qualifications, is committed to continuously introducing new features, keeping the gameplay experience fresh and engaging for users.

Space for Improvement

Despite its success, Axie Infinity is still in its nascent stages, and there are areas for improvement:

The decentralized nature of platform management presents challenges in coordinating changes and updates efficiently.
The profitability for players can be minimal, especially if the value of the SLP token decreases.
A significant barrier to entry exists for new players due to the high costs of Axies and Ethereum gas fees, potentially limiting accessibility.

Furthermore, as the platform evolves, integrating more user-friendly features and reducing entry costs could help attract a broader audience. Additionally, the platform could benefit from exploring more sustainable economic models to ensure long-term viability and stability in the fluctuating crypto market.

Axie Infinity: How to Get Ready to Use the Marketplace

To begin your journey in Axie Infinity, you'll need to set up accounts on MetaMask and Ronin, and have some ETH on hand.

MetaMask

MetaMask is a digital wallet essential for interacting with the Ethereum blockchain. To start with MetaMask:

Download it as a browser extension for Chrome or Firefox.
Complete the sign-up process and set up your wallet.
Link your MetaMask to the Axie Infinity marketplace for seamless transactions.
Once verified, you can purchase Axies via MetaMask.

Ronin Wallet

Ronin Wallet, developed by Sky Mavis, is a crucial component for Axie Infinity players. It's a sidechain of Ethereum, designed to reduce gas fees and accelerate transactions, making the game more accessible.

To register for Ronin:

Visit Axie Infinity’s official site and select “Getting started.”
Sign up for a Ronin account following the prompts.
Install Ronin as a browser extension to enable Axie Infinity gameplay.
Before purchasing Axies, familiarize yourself with their basics through a comprehensive Axie Infinity guide.

Axie Infinity Marketplace Focus

Axie Infinity's marketplace is unique, specializing exclusively in Axies and in-game items, unlike broader NFT marketplaces like OpenSea.

Marketplace Fees

Trading on the Axie Infinity marketplace incurs a 4.25% fee. For instance, a $100 sale results in a $4.25 fee, initially going to Sky Mavis but since 2021, redirected to the Community Treasury to benefit AXS token holders. Buyers don't pay marketplace fees but are responsible for any gas fees incurred during transactions.

Payment Methods

Purchases in the Axie Infinity marketplace are limited to ETH, aligning with its Ethereum blockchain foundation. Hence, players use MetaMask for transactions.

To enhance your experience, it's worth exploring additional tools and strategies within the Axie Infinity ecosystem. Keeping abreast of updates and community developments can also provide an edge in this dynamic digital marketplace.

What are AXS Tokens?

Axie Infinity Shards, abbreviated as AXS, are ERC-20 tokens within the Axie Infinity game that players can acquire through various activities. These tokens are multifaceted, serving several purposes beyond just in-game currency. Players are incentivized to hold AXS for the long term, contributing to the decentralization of the game's governance structure. The total supply of AXS tokens is fixed at 270 million, ensuring a cap on their availability.

Players can accumulate Axie Infinity Shards in a variety of ways, including engaging in gameplay, participating in special in-game events, or contributing to community-driven projects. Active involvement in governance voting can also yield additional AXS rewards. Furthermore, players have the opportunity to stake their AXS tokens, a process which allows them to earn more AXS over time.

This staking mechanism not only benefits individual players but also strengthens the overall Axie Infinity ecosystem by promoting player investment and long-term engagement. As the platform continues to evolve, keeping an eye on the changing dynamics of AXS tokenomics can provide players and investors alike with valuable insights into the game's future direction and potential opportunities.

Other Marketplaces Like Axie infinity

The domain of Gaming Finance (GameFi) is a burgeoning area where gaming intersects with economic opportunities. These games allow players to earn real money through gameplay. The concept of monetizing gaming experiences has been around for a while but has gained significant traction in recent years. The GameFi sector is rapidly expanding, with an increasing number of projects offering earning potential.

Play to Earn (P2E): This model enables players to earn by engaging in computer or mobile games. In crypto games, earnings typically come in the form of native cryptocurrencies or in-game assets. These can be exchanged on crypto exchanges like Binance, or sold on specialized marketplaces.
Pay to Win (P2W): Contrasting P2E, P2W games offer players the chance to spend real money for in-game advantages, such as superior equipment, weapons, or in-game currency.

Many crypto games integrate both P2E and P2W elements, meaning players often need to invest money upfront to play and earn later.

Examples of GameFi Projects

Alien Worlds: Central to this game is the Trillium (TLM) currency. Players use TLM for upgrades, such as buying equipment for faster mining. The gameplay is relatively simple, revolving around a 'Dig' button. A minimal initial investment (around 10 WAXP or $3) is required. Players can earn TLM through mining activities and can withdraw or reinvest their earnings. The TLM exchange occurs at AtomicHub.
Gods Unchained: A strategic card game where players build decks to outplay opponents. NFTs serve as cards with unique attributes. The blockchain ensures ownership security, protecting cards from alterations by the developers. Launched in 2018 on the ETH blockchain, it incorporates the in-game GODS token. New players receive 140 cards, enabling them to start without initial investment. Earnings come from card trading, tournament participation, and matches against other players.
The Sandbox: Resembling Minecraft, The Sandbox is a blockchain-based game that embraces metaverse, NFT, and GameFi concepts. Players create their own universes using the SAND currency, an ERC-20 token, to purchase land, objects, and more. The earning mechanism is indirect; players can sell their creations on NFT marketplaces, setting their own prices. This model aligns more with NFT art than traditional P2E gaming.

These examples illustrate the diversity of GameFi, highlighting how blockchain technology is reshaping the gaming industry by blending entertainment with financial opportunities. As this sector continues to evolve, new models and platforms are likely to emerge, further expanding the landscape of monetized gaming.

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