Financial Blog

Non-fungible tokens, commonly known as NFTs, are growing in popularity nowadays. After all, crypto has been booming for the past year. NFTs are a digital representation of a real-world objects such as art, music, videos, and many more. This means that it can be applied to anything such as video games. Just imagine a video game where the rewards are crypto—which can be exchanged for real money.

The newest NFT-based role-playing game, Axie Infinity, is sweeping the crypto and gaming industry by storm. It is now the fastest-growing blockchain game, given the fact that players may make money simply by playing. Axie Infinity has a lot of interesting gameplay. Because of its enjoyable gameplay, most people prefer Axie Infinity to other NFT games that can help them earn money.

We’ll see what the hype is all about and if it’s a worthwhile investment.

What is Axie Infinity?

Axie Infinity is a blockchain-based game with a few twists and adjustments inspired by the massively popular Pokémon game series. Breeding, raising, and battling cute creatures is the focus of Axie Infinity. It’s a great example of how the gaming and cryptocurrency worlds can coexist.

What are AXS and SLP?

AXS and SLP are two native protocol tokens in the Axie universe.

Axie Infinity Shard (AXS) is the primary token that players earn and use to breed digital pets. It will also function as a governance token, which allows holders to have a say in the future of the game.

Smooth Love Potion (SLP) is a gaming token that players can earn. You can earn some by defeating an opponent or completing missions in the game. The more you play, the more SLP you’ll be able to rack up.

How does it work?

Axie Infinity is a play-to-earn game that rewards players. There are animated characters called Axies, which players treat as pets. PVP battles, as well as breeding Axies, selling them on the Marketplace, and collecting rare Axies, are all great ways to earn. Smooth Love Potions are required to breed Axies. SLPs, just like all other cryptocurrency, are highly volatile.

AXS tokens can be earned by playing the game. This results in a Ready Player One-style quest in which players can gain access to a part of the universe. Players are rewarded for their talent and effort rather than their winnings.

Since the Axies themselves are a currency, players can breed creatures and trade or sell them, either for other crypto or real-world money. As a result, many gamers have turned it into a second job, using their in-game tokens to fund their rent and other expenses.

What is a scholarship?

The Axie community has grown in response to the game’s success. As a result, the Axie Infinity scholarship was established. This is a program in which people who don’t have the time or skill to play a game delegate the duty to scholars. It’s essentially the same as forming a business partnership. Owners invest the initial capital, while players invest their time in the game. Whatever profits they make from the game are divided according to a predetermined ratio.

Should you invest?

Axie Infinity is a new type of crypto-based game platform. AXS and SLP prices may be correlated to the game’s popularity; they may fall if players migrate to a competitor or lose interest.

People participate in this game mostly to gain money. Investing, on the other hand, entails risk. Your final decision should be based on your risk tolerance, portfolio, and comprehensive analysis.

Final Thoughts

In the end, Axie Inifnity is a game, so our advice is to play it if you enjoy it. It might also be a good idea to invest in SLP or AXS (Axie Infinity Shards) if you have the know-how and the stomach for crypto-investing.