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Breeding in-game animals called Axies with crypto, minting them as NFTs, and selling them to other users is one way to make money on the site.
It’s no secret that video-game streaming sites like Twitch have allowed users to make money by broadcasting their gaming experiences to a large audience of gamers. But now, thanks to the tokenomics of blockchain-powered digital games like Axie Infinity, gamers may earn money simply by playing the game. Axie Infinity had over 360,000 concurrent players at the time of release.
While the United States is third in terms of active Axie Infinity players, according to ActivePlayer.io, all of the other countries on the list are developing nations. In the Philippines alone, an estimated 40% of gamers are based. According to Twitter user Saharan-sub, Axie Infinity gamers in Ghana can earn between 854 and 2,562 Ghanaian cedis ($140 and $420) per month, which is significantly more than the country’s minimum salary.
I've been tracking the income of my Ghanaian players over the past 4 months and this is the average income per month of them playing #AxieInfinity.
I don't know about ending world hunger, but play-2-earn has proven to be an extra stream of income.
_#AxieAfrica $MC #crypto $axs https://t.co/6mjniAUrdA pic.twitter.com/V3wkJRIdt0
Sky Mavis, a Vietnamese video game developer, created Axie Infinity in 2018. The game features “Axies,” which players may acquire and use to fight other players and foes. Each Axie is a nonfungible token (NFT) that was created on the Ethereum network.
Buying and selling Axies on the market is a popular way to make money. Axies exist in a variety of rarity categories, each with its own set of strengths and abilities. The majority of Axies have poor statistics, but a handful stands out thanks to trial-and-error breeding. These are the most in-demand. For population management, each Axie can only be bred a certain amount of times, resulting in scarcity.
The Smooth Love Potion (SLP), the Axie Infinity Shard (AXS), and Ethereum (ETH), which is utilised for gas fees, are the three digital currencies required for breeding Axies. The requirements for breeding a rare top-tier Axie, according to Chill Axie, are 10,200 SLPs ($683.90), 1 AXS ($137.81), and 0.1813 ETH ($823.30), for a total cost of $1,645.01.
✨A new record! ✨
300 ETH for triple mystic Axie, Angel!
Mystic Axie overview 👇https://t.co/ZISLRJmJwl pic.twitter.com/3FHx4a76xu
According to marketplace data, nearly 2 million Axies have been bought and traded in the last few months, totaling 140,956.7 ETH ($639.5 million). The previous year’s record for the most expensive Axie ever sold was 300 ETH, which is today worth $1.375 million.
However, earning money isn’t restricted to purchasing and selling Axies. Users can earn SLPs by completing daily objectives, battling monsters, and defeating other gamers in arenas. The coins can then be sold on a cryptocurrency exchange. Leaked recordings from July showed huge farms dedicated to gathering SLPs on Axie Infinity using smartphones and other electronic equipment. Some gamers have taken to the streets to protest the farms, calling them abuse of the game’s play-to-earn principle.
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