Cryptocurrency is nothing new. It has been in the market for some time, and it is definitely here to stay. As more and more people realize the true potential of cryptocurrencies, the demand for these digital tokens rises. Since digital currencies don’t have an authority figure, your transactions are safer. The decentralized nature of these tokens ensures that your transcriptions are encrypted and the details cannot be hacked into.
Moreover, since the government does not control these tokens, the value of these tokens is independent of the social, political, and economic factors of a country. Their value is solely decided by the demand in the market, which is why cryptocurrencies’ value often jumps so high. They make for great investment options, and the internet has come to realize that.
A lot of people have also started visiting online gambling sites that support cryptocurrency transactions to be able to win some tokens there. In fact, a lot of online gambling websites started using digital currency to attract more users to their sites, as is clear from crypto casino no deposit bonus 2022.
Different Types of Cryptocurrencies Over the Years
As more and more cryptocurrencies hit the market, it becomes difficult to create a buzz among the masses. After all, people invest in cryptocurrency tokens with one intent, and that is to multiply their money. So how does it matter which token it is, right? Still, some people were hesitant about digital currencies because of the high volatility in their prices. To overcome this problem, stablecoins were introduced.
These tokens were pegged to a certain fiat currency, which reduced the risk factor of these tokens. Their value was pegged to real-world assets at fixed ratios, which meant that even in worst-case scenarios, they wouldn’t have a negative value. So it was easier to control the losses. This took care of one of the biggest drawbacks of cryptocurrencies, so people clamored to get their hands on them.
But all that is old news; it’s time to make cryptocurrency mining fun. One of the biggest complaints against these tokens is that it is difficult to mine them, and it is a time taking process. Mining cryptocurrencies refers to the process of creating new tokens on the blockchain. But now, there is a game that allows you to enjoy yourselves as you mine cryptocurrency. The game is called Axie Infinity, and it is a huge step for P2E games (or play-to-earn games).
What Is Axie Infinity?
Axie Infinity is an online game that allows people to raise their digital pets and use them to battle other similar creatures. These pets are referred to as Axies, and they are NFTs, which means they can be tracked on the blockchain and used as a digital currency. Each NFT is distinctive, and it is impossible to duplicate them.
People can even trade these Axies, which makes it a unique experience and greatly sets it apart from other cryptocurrencies. The game has been developed by Sky Mavis, which is a Vietnamese studio that is known for creating games that have real economies within their games.
The transactions were initially carried out on the Ethereum blockchain but gradually shifted to Ronin, a sidechain where most of the transactions take place because it has lower fees than the Ethereum blockchain. Launched in 2018, it became the biggest crypto app on the Ethereum blockchain in 2021, which is a clear indicator of its popularity.
While most online gambling sites promise the same thing: you can earn money by playing games, what sets Axie Infinity apart is that there are no hidden conditions here. With casino games, you cannot escape the luck factor. But Axie Infinity does not involve luck to award you with digital currencies. You need to have good motor skills and an analytical mind to strategize the best way to defeat your enemies.
So, you literally just have to play the game to be able to earn some quick bucks. In the game, there are creatures called Axies, which can be minted, traded, and collected by the players. Players would be reminded of Pokémon when they play this game.
Just like Pokemon had creatures like Pikachu, Meowth, and others, Axie Infinity has digital pets, which are tiny creatures made up of various little parts that make each Axie unique. All players have to collect and mint as many of these Axies as possible to build up their team.
How to Play?
A player has to build a team of three Axies and then compete with other teams. Players would need to buy at least two Axies to begin with. Once a player has two Axies, he can create a third by letting the two Axies act as parents. This would require a payment in the form of SLP tokens, and the player would have to wait for a certain period before they can use that Axie Players have to try their best to defeat all the enemy Axies in each round to maximize their products.
Each Axie can cast spells that can harm their enemies. For every round, players have to choose the best three cards for their Axies, which would be effective against their enemies. Axies have classes, which is the factor that helps to decide whether it would be harmful to another Axie or not. As the players win more and more matches, their Axies increase in strength.
The game has two modes which are Adventure Mode (PvE) and Arena Mode (PvP). In the former, the player is pitted against the environment and has to battle computer-generated enemies. In the latter, the player competes with other players in real-time. PvP matches allow players to increase their Matchmaking Rate or MMR, which is the value assigned to each player.
As the MMR increases and crosses certain levels, the players start to win more, which means that they can start earning more. Of course, it is not that easy. Players with higher MMR fight against strong opponents, so it becomes difficult to keep winning.
Just like a Bitcoin sportsbook allows you to make your bets using Bitcoins, Axie Infinity allows you to use your ETH tokens. To get started, you need to create your Ronin Wallet, which allows you to carry out the transactions using ETH and support the in-game currencies too. In fact, the official website of the game states that the first step is not downloading the game but setting up your Ronin wallet.
The in-game economy allows players to conduct all sorts of transactions using two tokens: SLP and AXS. SLP stands for Strong Love Potion, and AXS stands for Axie Infinity Shards. The SLP token has been withdrawn, to be introduced in a later phase, so the sole currency is AXS.
To earn AXS, the player can go on daily quests or fight monsters in either of the two modes, Adventure or Arena. Ownership of AXS tokens enables players to participate in the governance of the game. AXS holders are also considered for exclusive sales or auctions within the in-game economy, so try your best to own as many AXS tokens as you can.
If players stake their AXS coins in the game, they are eligible to win new AXS coins. In order to withdraw their earnings from the game, players have to wait for an interval of 14 days.
So what are you waiting for? With Axie Infinity, you get to put your ETH tokens to use and earn NFTs as well. Not many games in the market can boast of such a thrilling P2E game, so you are definitely missing out if you have not yet tried this game out. If you are skeptical about having to pay the initial playing cost that players have to incur to buy their first Axie, you can play the Origin Axie game.
This is an updated version where crypto is not involved. Players have to merely collect and breed the Axie of their choice and play it like a usual virtual game. Once you get the hang of this game, you might change your mind about paying the entry cost. People have been able to earn large sums of money at this game which was enough to support them for months, so there is no harm in trying your luck out once.