How to Make Money with an NFT Marketplace Like Axie Infinity?

In today’s world, where non-fungible tokens are utilized in newer applications every day, online gaming is a sector that has earned a huge reputation for using them accordingly. Games like Axie Infinity, which comes under the category of play-to-earn games, have been one of the successful games based on blockchain technology in recent times. Players have been earning a lot through many different ways during gameplay, which has raised a lot of eyebrows and some players have even listed the income through the game as their sole source of income. 

If you have just heard about Axie Infinity and are eyeing an opportunity to make cash out of gaming, this blog can give you insights on both earning through the game as well as the i-game marketplace.

Axie Infinity – The Plot

Axie Infinity is a game with a plot that looks similar to the famous Pokemon franchise, supported by the Ethereum blockchain. The game has the largest active user base out of all the games based on Ethereum. Although aiming to be a decentralized game, Axie Infinity is still governed by the studio behind it, Sky Mavis and they say that decentralization will occur soon. 

Earning Money Through Playing Axie Infinity

• The easiest way to earn some money on the game is to play the game regularly. Although the game looks aesthetically pleasing, you need to be strategically vigilant to be able to win battles, as taking this lightly might even result in losing your invested money.

• The game’s main characters are known as ‘Axies’, which are NFTs that generate both revenue and speculation of prices. A player should build a team of three Axies to battle against bot monsters (Adventure Mode) or against other players (Arena Mode) to earn cryptocurrencies. Also, completing daily quests or challenges adds up more money.

• There are also other methods by which one can earn money through Axie Infinity. Smooth Love Potions (SLPs) can be acquired as you play the game and they are sought-after items due to their requirement during breeding. Players also earn AXS (Axie Infinity Shards), which will become the game’s governance token in the future. Although a risky option, players stake AXS to earn rewards from the Axie Infinity game community treasury.    

• Due to the rule that a player can have no more than three Axies in their squad and usage of multiple accounts is not allowed, agreement schemes called Scholarships are gaining popularity amongst users. These agreements enable players with excess Axies or less time to play can hire scholars (that is, other players) to play and earn SLPs on their behalf. Such agreements have a split of rewards (70/30, 60/40, or 50/50), thus ensuring a passive income. The generated revenue gets high enough if you have employed multiple scholars, in addition to playing with your own Axies. As this scheme is not a part of the game, deals take place outside the game environment.  

Earning Money Through Axie Infinity’s Marketplace

• Players have been earning a lot through breeding Axies. The value of the Axie depends on the powers it has and the rarity. This method would always yield money irrespective of the Axie profiles as new players arrive every day and are on the lookout for starting their own Axie teams. Such sales occur in the game’s own marketplace.

• Players can invest in the in-game Lunacia land plots, which is still an upcoming feature. Here, a player can buy a plot of land as NFTs in the game’s world and use it as their home base. Players can even rent out their plots to other players, in addition to customizing their plots catering to their needs. This is a feature still in development and we can see its full abilities soon.

• As the game is gaining more traction, speculating on a rare Axie that you had created or bought can be a great option. There are two ways you can consider while speculating on such Axies – Single Axies that have been fractionalized and Collections of Axies that have been fractionalized.

• In addition to selling Axies and Lunacia land plots, items that can be used on the land as tactical assets (such as lamps, pouches, pillars, propellers and even patches of grass) and even bundles, which have many such items can be traded for a fair amount.     

Should I Invest My Resources in Axie Infinity?

After reading through all the points on how you can utilize Axie Infinity to earn money, if you are thinking of taking up the game and generating income, here are some points for you to consider:

• Know about the world of cryptocurrencies and NFTs through your own research. The world of blockchains is renowned for its volatility in some cases (like cryptocurrencies) and you can never speculate on fluctuations.

• Some countries do not allow play-to-earn blockchain gaming and it is wise to know your country’s regulations related to cryptocurrencies and NFTs.

• There have been instances where the player’s Axie Infinity accounts have been hacked. Even a support member’s Discord account had been hacked and several scams have occurred through that account. So, be aware that hacks and scams are still commonplace, just like the rest of the internet.

• Such games involve investing real-world money even to start and need you to dedicate a larger portion of your daily life to play as things can swing across in a matter of hours. So, venture into the world of Axies, if you are really ready to put in a lot of effort.