How to Make Money On Axie Infinity? (Can You Earn $1,000?)
In 2018, the gaming studio Sky Mavis introduced Axie Infinity, a crypto game that quickly captured the world’s attention. Inspired by the Pokemon game, Axie Infinity allows players to immerse themselves in a captivating world where they can breed, train, and battle their very own digital pets known as “Axies”.
The AXS token lies at the heart of this innovative ecosystem. It serves as the primary governing force within Axie Infinity. Players begin their thrilling gameplay with the exciting opportunity to earn AXS tokens, solidifying their quest for success.
Players can receive tangible rewards outside of the virtual world of the game thanks to these earned tokens, which have real value and can be traded on cryptocurrency exchanges for a variety of digital assets or even converted into fiat currency.
This guide will walk you through everything you need to know about the financial benefits you can get within the Axie Infinity ecosystem. You will learn how to make money on Axie Infinity and how much can you earn on the platform by engaging in strategic battles, breeding prized Axies, exploring content creation, competing in thrilling tournaments, owning virtual land, and staking AXS tokens.
What is Axie Infinity?
Before we begin the ways to make money on Axie Infinity, it is crucial for you to understand the platform’s fundamentals.
Axie Infinity stands as a decentralized gaming platform, innovatively built on top of the Ethereum blockchain, providing players with a captivating play-to-earn online game experience.
This one-of-a-kind game combines PVP gameplay with the possibilities of non-fungible tokens (NFTs) and decentralized finance (DeFi). The game’s central system lies in the captivating journey of players, as they begin on a quest to collect, breed, and engage in thrilling battles with their prized fantasy creatures, known as “Axies”.
Axie Infinity appears as an evolution of the Pokemon game, in which users engage in enthralling combat and strategy to match their Axies against one another, in a manner similar to the Pokemon game. It is a brilliant fusion of gaming and blockchain technology, all game data is preserved on the secure and immutable blockchain network, ensuring transparency and immutability of every player’s journey.
AXS is the main token that governs Axie Infinity. Players can earn AXS tokens while playing the game, and later exchange them on crypto exchanges for other digital assets or real money.
How does Axie Infinity work?
Axie Infinity is a blockchain-based game that operates as a play-to-earn platform. In this game, players have the opportunity to earn rewards through various activities. They can compete in player-vs-player battles, breed and sell Axies in the marketplace, or collect rare Axies. The more players contribute to the Axie universe, the more rewards they can earn.
Two major tokens are central to the Axie Infinity ecosystem. SLP (Smooth Love Potions) are used for breeding Axies, and AXS (Axie Infinity Shards) serve as the primary governance token and transaction fee.
To access the game, users must acquire NFT assets known as “Axies” from the Axie Infinity marketplace. A team of three Axies is required to begin playing. Players can engage in battles against other players or in-game opponents, utilizing their Axie’s special abilities to emerge victorious. As a result of winning battles and completing quests, players earn both SLP and AXS tokens as rewards.
These earned rewards have versatile applications within the game. Players can use them for various purposes, and they also have the option to breed their Axies, creating new ones with distinctive traits.
Additionally, players can stake AXS tokens to unlock additional rewards within the game. The play-to-earn model of Axie Infinity offers players an enjoyable gaming experience while also providing opportunities to earn valuable rewards.
6 Ways to Make Money on Axie Infinity
In the world of Axie Infinity, the play-to-earn model takes center stage, requiring the player’s active engagement within the game’s ecosystem to generate income.
The following are the key strategies and ways that players may embrace when playing the blockchain-powered game to unlock the potential for making money.
1) Play in Arena Mode (PVP)
The Arena mode takes precedence as the player-vs-player (PVP) mode within the huge Axie Infinity realm, serving as the primary means for players to gain valuable tokens. This mode allows players to put their favorite Axies against one other while also encouraging them to start missions and participate in various in-game activities.
As players immerse themselves in these engaging activities, they are rewarded with SLP tokens, the coveted in-game cryptocurrency. These SLP tokens hold significant value and can be exchanged for other cryptocurrencies or even fiat currency on various well-established exchanges, providing players with tangible rewards for their dedicated efforts.
2) Breed and Sell Axies
In the vast Axie Infinity ecosystem, a bustling NFT marketplace awaits players, offering a platform to effortlessly buy and sell their prized digital assets known as “Axies”. Once players have acquired the SLP token, they face a pivotal choice: either trade it for valuable cryptocurrencies and fiat currency or leverage it to undertake the intriguing process of breeding their Axies.
By skillfully combining the traits and features of their Axies, players can create brand-new, unique creatures with enhanced powers, and subsequently, these newly bred Axies can be listed and sold in the bustling Axie Infinity marketplace.
The value of these Axies hinges on various factors such as their distinctive traits, rarity, and demand in the market. Through smart decision-making and strategic breeding, players have the potential to not only create unique and powerful Axies but also earn lucrative profits from the successful sale of these sought-after creatures.
3) Participate in Tournaments
In the vibrant Axie Infinity circle, players can engage in esports PVP tournaments and competitions that promise rewarding experiences. These events are designed to showcase players’ skills and competitive spirit, encouraging an environment where the best emerge victorious.
By demonstrating mastery in these thrilling tournaments, players have the chance to claim valuable prizes, ranging from additional SLP tokens to even AXS tokens.
The success stories of Axie players earning substantial amounts of cryptocurrency through numerous tournaments, hosted both by the core team and third-party sponsors, are a monument to the immense potential and lucrative opportunities that await those who participate in these thrilling battles.
This method of earning money on Axie Infinity is best for competitive gamers.
4) Stake AXS Tokens
Axie Infinity’s major token, AXS token, is a pivotal asset with multifaceted utility. As the primary token, AXS plays a vital role in governance and transactional activities within the game.
Players possess the power to stake their AXS tokens in the governance system, unlocking a realm of rewards and incentives. These rewards encompass governance voting power and a share in the ecosystem’s bountiful rewards pool.
Additionally, the AXS token holds tangible value, enabling players to trade it for other cryptocurrencies or even fiat currency on various well-established exchanges. The AXS token’s versatile nature solidifies its significance in empowering players within the ever-evolving Axie Infinity universe.
5) Invest In Virtual lands
Within the realm of Axie’s homeland, scattered throughout, lie plots of land that serve as cherished homes and strategic bases of operation for players’ beloved Axies.
These plots can be transformed and enhanced through the use of diverse resources and crafting ingredients that players uncover while embarking on thrilling gaming adventures. As a delightful surprise, landowners might stumble upon AXS tokens nestled within their land plots.
By owning land in Axie’s homeland, players unlock a wealth of opportunities, earning revenue from the bustling in-game activities that unfold within the boundaries of their cherished territories. This delightful feature rewards players not only with a sense of ownership but also with tangible benefits in the form of revenue from their prized land.
6) Content Creation
The global gaming industry boasts a staggering worth in the billions of dollars, and within this vast landscape, Axie Infinity stands as an innovative initiative for the Web 3 gaming sphere. It serves as a lucrative platform where players can captivate money by harnessing their creativity and content-creation skills. Countless players have discovered a realm of opportunities by crafting content related to Axie Infinity.
From streaming captivating gameplay sessions on popular social platforms like Twitch to crafting insightful guides and tutorials, or even producing inspiring artwork, content creators find a host of avenues to monetize their creations.
This fruitful endeavor opens doors to various income streams, including sponsorships, tips, and generous donations from their dedicated followers and fans. Axie Infinity proves to be a realm where players’ creativity intertwines with financial rewards, encouraging a vibrant and thriving ecosystem for content creators.
Where and how to sell SLP and AXS tokens?
After successfully earning tokens in Axie Infinity, the next vital step is to explore how to convert these acquired tokens into various cryptocurrencies or fiat currencies for financial benefits.
The following steps need to be undertaken to sell your SLP and AXS tokens effectively:
Step 1: Transfer tokens (Game Wallet to Ronin Wallet)
To start the process of transferring your tokens from the in-game wallet to the Ronin wallet, the first step is setting up a Ronin wallet. Simply add the Ronin Wallet to your web extension and follow the necessary steps to gain access.
Then, navigate to the Axie Infinity Marketplace and log in there with Ronin Wallet by clicking the button in the upper right corner. Once logged in, go to the profile section and select the “Claim Tokens” tab.
On the withdrawal page, you will find the option to “Claim SLP” or “Claim AXS”, depending on the type of token you wish to withdraw. Enter the desired number of tokens for withdrawal and confirm the transaction to complete the transfer process.
Step 2: Bridge tokens (Ronin wallet to Metamask wallet)
To withdraw the tokens, you have two options depending on whether your chosen exchange supports Axie Infinity tokens or not. If the exchange supports SLP and AXS, you can directly withdraw the tokens from your Ronin wallet.
However, if the token is not available on your preferred exchange, you’ll need to bridge the tokens to an Ethereum-based wallet like Metamask. To do this, open your Metamask wallet and copy your wallet address. Then, go to the Ronin wallet, access the Ronin Bridge, and choose the “Withdraw” option.
Next, paste your Metamask wallet address, select the number of tokens you wish to withdraw, and confirm the transaction to complete the bridge process. This allows you to access your Axie Infinity tokens on an Ethereum-based platform.
Step 3: Withdrawing Tokens (Choose Your Preferred Exchanges)
If your preferred exchange supports the Ronin network and SLP and AXS tokens, you’ll find the process much smoother, saving both time and gas fees. Accessing your tokens on such exchanges is a straightforward process.
Simply visit your preferred exchange’s dashboard and select the “Deposit” option. If you’re withdrawing directly from the Ronin wallet, choose the Ronin network, or if you’re accessing through Metamask, opt for the Ethereum network. Then, complete the necessary steps, entering your account number and specifying the number of tokens you wish to withdraw.
Also read: Tips to generate passive income with crypto
It’s important to note that AXS can be traded on various reputable crypto exchanges such as Binance, Huobi Global, Coinbase, Bithumb, KuCoin, Gate.io, and Kraken. The availability of AXS on these platforms not only enhances its accessibility but also contributes to its popularity and liquidity, enabling a wider audience to partake in its trading activities.
How much can you earn from Axie Infinity?
The earning potential on Axie Infinity highly depends on the player’s level of engagement with the game. Operating on a play-to-earn model, Axie Infinity offers players the exciting opportunity to generate income through a variety of in-game activities.
Factors such as the time and effort invested, skillful strategies employed, token prices, and market demand all play pivotal roles in determining one’s potential earnings.
While some players have reported earning a few hundred dollars monthly, others have achieved substantial earnings, totaling in the thousands.
To gain further insights into the actual earnings of Axie Infinity players, a popular forum on Reddit serves as a platform where players openly disclose their individual earning experiences.
For those intrigued by the prospects of making money in Axie Infinity, exploring this forum can offer valuable real-life examples and insights into the realm of play-to-earn gaming.
Conclusion
Axie Infinity has achieved widespread popularity and success in the blockchain gaming space due to its unique play-to-earn concept combined with blockchain and cryptocurrencies, NFT-based gameplay, and incorporation of decentralized finance elements.
Not only does the game offer players an enjoyable and engaging experience through battles and adventures, but it also presents them with the opportunity to generate income through their gaming activities.
However, it is essential to exercise caution and recognize that making money on Axie Infinity is not a guaranteed source of income. Success may vary depending on several factors, including market conditions, player skill, and the overall demand for Axie-related assets.
Like any investment, it is crucial to conduct thorough research, manage risks wisely, and invest only what you can afford to lose. By approaching Axie Infinity with informed decisions and a balanced perspective, players can maximize their chances of reaping the rewards while navigating the exciting and dynamic landscape of blockchain gaming.
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FAQs about Making Money on Axie Infinity
Is there a minimum requirement to get started in Axie Infinity?
Yes, to get started in Axie Infinity, you need a team of three Axies, which are NFT characters used in the game. The prices of Axies can vary, and you can find them listed on the Axie Infinity marketplace.
Is Axie Infinity still good for making money?
Yes, many players still consider Axie Infinity good for making a decent amount of money; but your potential earnings can be affected by the market conditions in the blockchain gaming and cryptocurrency space, impacting the overall profitability of engaging in Axie Infinity’s ecosystem.
How much can I earn from playing Axie Infinity?
The earnings potential in Axie Infinity varies greatly based on factors such as the player’s dedication, time invested, and level of skill. While some players have shared earning a few hundred dollars monthly, others have achieved impressive sums in the thousands.
Can I convert my earned tokens into other crypto or fiat currency?
Yes, you can convert your earned in-game token into other crypto or fiat currencies on various reputable crypto exchanges such as Binance, Huobi Global, Coinbase, Bithumb, KuCoin, Gate.io, and Kraken.
Disclaimer: This article is for informational and educational purposes only. Readers should not take it as financial advice.
