How To Make Money On Axie Infinity?
Axie Infinity is one of the most popular play-to-earn gaming platforms. Get Freebies Today will show you how to make money on Axie Infinity if you like playing this game.
1. What Is Axie Infinity?
Axie Infinity is a blockchain-based game where players buy NFTs of cute monsters and let them fight in battles. Small Love Potion (SLP) and Axie Infinity Shard (AXS) are the two native tokens that power the ecosystem.
AXS will eventually become Axie Infinity’s governance token, but for now, it’s only useful for breeding Axies. During gameplay, players can earn SLP tokens, which they can then trade for cash at an exchange. Around the game, a “play-to-earn” movement has emerged, with players enrolling in scholarship programs and academies.
2. How To Make Money On Axie Infinity?
If you are really into Axie Infinity and want to learn more about the game’s different economic opportunities, we will compile a list of five strategies for your reference. By playing and earning, breeding Axies, providing liquidity for Axie Tokens, speculating on Rare Axies, and AXS Staking, you can make money on Axie Infinity. Here are 5 ways for you to make money on Axie Infinity:
2.1. Play & Earn
Playing Axie Infinity is a great way to get started with the game. The best part is that winning battles and completing quests earns you Smooth Love Potions ($SLP), which are required to breed Axies and currently sell for $0.26 each.
In terms of actual play-to-earn, there are three main ways to earn $SLP in Axie Infinity: Quests, Adventure mode, and Arena mode.
- Quests: Axie Infinity currently has a Daily quest that can be completed for 50 $SLP. There will be a weekly quest and other limited-time special bounties in the future.
- Adventure mode: For a more casual experience, try Axie Infinity’s Adventure mode, where you can earn tokens by defeating computer-controlled monsters.
- Arena mode: You can also battle your Axies against the best real-life players have to offer. Trainers earn $SLP for each Arena victory because it’s playing for keeps.
2.2. Breed Axies
Breeding Axies provides another economic opportunity in the Axie Infinity universe. As you breed more Axies, you can sell, lend, and create Axie Scholarship teams from your inventory. Breeding costs 4 $AXS flat fee and a variable fee of $SLP depending on how many times the participating Axies have been bred previously.
If you are into this kind of earning, we will show you how to breed Axies:
- Choose your desired Axie and click the “Breed” button on its profile page. Click “Let’s Breed!” after inputting which 2 Axies you want to breed.
- You will be prompted to approve the breeding fees in your Ronin wallet. Select “Confirm.”
- Once this transaction is confirmed, you will receive a newborn Axie egg in your inventory.
- It takes five days for your Axies to morph into adult status after you’ve bred them. Then go to your Inventory and select your desired egg.
- Click the “Morph to Adult” button once your newborn Axie’s profile has been pulled up. You’ll be prompted to sign a transaction in your Ronin browser wallet. To finish the signature, press “Confirm.”
2.3. Provide Liquidity For Axie Tokens
Both SLP and AXS are essential to Axie Infinity. When the game grows in popularity, there will be a demand for these tokens. Serving as a liquidity provider (LP) on leading decentralized exchanges is one way to participate in the Axie Infinity economy.
You should think about providing liquidity to:
2.4. Speculate On Rare Axies In The Greater Axie Marketplace
Speculating on fractionalized Axies is one way to make money.
In this case, there are two options to consider:
- Single fractionalized Axies: Almace is an example. This is an ultra-rare Axie sharded into 10,000 $ALMX tokens via NIFTEX.
- Collections of fractionalized Axies: Unicly’s uAxie token, which represents a basket of 24 mystic Axies, is an example.
2.5. AXS Staking
Axie Infinity has recently brought in massive amounts of revenue. The earnings go to the Axie Infinity Community Treasury, governed by the AXS token. These impressive revenues will begin to be distributed to players who stake their AXS with the upcoming rollout of the game’s AXS staking system.
3. How Much Crypto Can You Earn In Axie Infinity?
Each different strategy to earn crypto in Axie Infinity has a wide range of possible profits. Depending on your Axies, how long you play, and the extra incentives available at the time, playing the game for many hours a day could earn you anywhere from $8 to $40 per day.
If you’ve accumulated a large number of Axies but don’t have enough time to use them all, offering scholarships may be the best source of passive income in the game. With reasonable profit splits, you can earn between 50% and 70% of the profits made by your scholars. You will have a large passive revenue stream if you have multiple scholars, each with a set of three Axies.
Because of the high demand for NFTs, breeding Axies can be a lot more profitable. It costs 4 AXS and 150 SLP (approximately $211 at the time of writing) to breed a pair of Axies for the first time, plus transaction fees.
4. Risks Of Investing In Axie Infinity
Investing in Axie Infinity has the potential to be extremely profitable, but it can also be extremely risky. Earning cryptos in Axie Infinity has extremely high startup costs, except scholarships, which are extremely rare and highly sought after.
If you only make $10 to $15 per day playing the game, it will take 50 to 80 days of working long hours to cover the cost of the NFTs. If prices stay the same, you can sell the Axies later to recoup your investment. The price of Axies will be determined by the demand for them as well as the value of the AXS and SLP tokens.
Your NFTs will likely lose value if the game becomes less profitable or popular. The tokens and Axies may become completely worthless if the game completely collapses.
After reading this article, you can understand what Axie Infinity is, how to make money on Axie Infinity, and how much crypto you can earn in this game. Don’t forget to follow Get Freebies Today for more helpful information, especially crypto and NFTs knowledge.