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Axie Infinity is an online video game usually on a non-fungible token. It is known for the economy present in its gaming system. This economy uses cryptocurrencies that are Ethereum-based as a medium of transaction in its exclusive design. This economy is the reason why it is known far and wide, and this is so because the economy is arrange to the extent that it looks so much like a physical platform which is unlike other online gaming systems. Axie Infinity came up in March 2018, and it can use a variety of media such as Windows, iOS, Android, and macOS.
Many wonder how possible it is to play axie Infinity.
To know about axie Infinity and get the latest update, it is essential to follow the axie infinity news platform. It is where one can be sensitized about the happenings of axie Infinity as a whole. This place is not far-fetched; it is just by logging on to a URL website which is https://axie.substack.com/. Even though axie infinity news can circulate on other social media platforms, it is necessary to deal with the information zone of axie Infinity or their other social media.
Axie Infinity uses “idle battle” as its gaming system. This system is similar to those used in competitive games, making axie Infinity itself a competitive match. People play Axie Infinity by using players called Axies. These axies fill up the entire setting of the game. The Axies are axolotl-inspired digital pets. In axie gaming, the players collect these axies, breed them and use them to battle in the game as pets till they build strong kingdoms. While they play the axie infinity game, players can sell, buy and exchange their axies in the gaming system. The model used by axie Infinity is the “pay-to-play-to-earn” model. The players have to pay the price to start playing and earn as they play. What players make in playing the game are tokens that are always Ethereum-based. Because of the axie infinity game’s model, it is referred to as a form of gambling. Still, in the Philippines, where axie Infinity has the highest number of players, earnings from axie Infinity have been declared taxable. Another thing to know is that when the players play axie Infinity, the players are allowed to cash out their prizes every fourteen days.
It is also possible for the players to purchase axies and virtual lands in the axie gaming process. Virtual lands in axie Infinity can be regarded as expensive because, as of November 2021, it costs about 2.3 million US dollars to purchase a plot of land in axie Infinity.
Since axie Infinity is non-fungible token (NFT) based, what is it exactly?
Axie Infinity NFT is simply the digital assets in-built in the axie game, such as the axies used in the axie infinity game. Therefore, an example of axie Infinity NFT is the axies. These digital assets that are in-built represent the NFTs. Axie Infinity is said to be the leader where NFT gaming is concerned. The NFTs are unique tokens, and they help the players trade axies for real money in the marketplace. Not only this, the NFT confers ownership of the players.
The Axie Marketplace is where axie Infinity NFTs can be sold and purchased. It is also where land and other accessories for land decoration can be bought.
The average price in which axie Infinity NFT has been sold is $355 US dollars, but this price has dramatically reduced to an average price of $40 US dollars in recent times. As a result, it would cost an average of $110 US dollars to form an axie infinity team.
The Axie Infinity Coins
Axie Infinity Shards and Small Love Portion (SLP) are the leading axie infinity coins primary to the axie infinity game. The Axie Infinity Shards can be purchased and traded on cryptocurrency exchange platforms such as coinbase. Before a player can play axie Infinity, buying these axie infinity shards is necessary because this is the medium of exchange in the gaming system. However, just like other cryptocurrencies, it is possible to trade this axie infinity coin on the approved platforms coinbase as an example.
The Small Love Portion (SLP) is a reward given to the axie infinity players for the time they spend playing the axie infinity game. The SLP awarded to the players varies, and this is majorly based on the time that they spend playing the game. The more time spent, the higher the SLP reward given to the players. Another way that players can earn SLP is by defeating their opponents during the play games. Players who win more earn more SLP, while players who lose their games earn little or no SLP. The SLP gained can be traded on DEXs for other cryptocurrencies.
Today, the axie infinity coin price for axie infinity shards is 45 US dollars, ranging with a difference of about 50 cents in different purchasing platforms. The Axie Infinity Coin price has experienced a 72% decrease from the highest price that it has been purchased previously.
In today’s market, the axie infinity shards are the 38th coin in the market demand ranking. Due to the recent crises experienced by the axie infinity team, the demand for the axie infinity shards has drastically reduced. This has increased its availability in the market but with little or no direction from buyers. The coin’s current market cap is about $2.90B US dollars. Axie Infinity Shards (AXS) are converted to BTC at 1 AXS to 0.00118658 BTC.
Everything, where cryptocurrencies and NFTs are concerned, is a risk. It is also true with axie Infinity primarily because real currencies are being used to exchange for the purchase of digital assets in the gaming system. Therefore, dealing with this mindset knowing that the game is controlled by the number of players playing it can affect the price. In short, nothing is fixed and guaranteed. Trade wisely.