In brief
2021 is a boom time for making money by playing games and raising virtual pets. The easiest to understand is that Axie Infinity is a blockchain game combining Pokémon, CryptoKitties and card games.
More specifically, Axie Infinity is an NFT game and ecosystem built on the Ethereum blockchain. Axie Infinity's native cryptocurrencies are the ERC-20 Axie Infinity Shard (AXS) and Smooth Love Potion (SLP) tokens. AXS is the governance token, while SLP is used to breed new Axie. AXS is also offered as a BEP-20 token on Binance Smart Chain (BSC).
Each Axie creature belongs to a different system and includes different body parts, stats, and attributes. To play, you need an Axie squad, which can be purchased or provided by other players. You can store your tokens and NFTs in an Ethereum wallet or Ronin wallet. Sidechain Ronin supports near-instant transaction execution and allows players to trade tokens and Axie without using the Ethereum blockchain, reducing transaction costs.
In the future, you will also be able to purchase Land NFT. You can buy both AXS and SLP on Binance, then transfer to Ronin wallet. You can also use Ronin Bridge to send tokens from your Ethereum wallet to your Ronin wallet.
Introduce
Inheriting the pioneering idea of CryptoKitties, Axie Infinity is an Ethereum-based collectible game, developed since 2018. The game is the brainchild of Vietnam-based startup Sky Mavis. The project originated from passion, then became a popular game on Ethereum.
Axie Infinity Shard (AXS) is the token of the Axie Infinity ecosystem. AXS is an ERC-20 governance token, launched in November 2020. Players can buy, trade or earn AXS tokens by playing games. AXS rewards are given to the highest ranked players after each season.
Other Axie Infinity tokens include the in-game asset (Axie) as an ERC-721 token and Smooth Love Potion (SLP) as an ERC-20 token. SLP has become a popular part of the play-to-earn movement, allowing gamers to earn a fairly steady income simply by playing Axie Infinity.
What is Axie Infinity (AXS)?
In the Axie Infinity ecosystem, the in-game character is called Axie. Axie is a non-fungible token (NFT) that you can own and control. You can store Axie in a crypto wallet, transfer to other Ethereum addresses, or trade with other players in the blockchain-based marketplace. In addition to Axie, the game also has land and virtual items, which are also ERC-721 tokens.
In this ecosystem, players can use the Axie squad in Adventure mode (PvE - Player vs Machine) to fight monsters in Lunacia - the kingdom of Axie Infinity. Players can also choose Arena mode (PvP – Player vs. Player) to battle other real-life Axie trainers. When you win, you will receive an asset called Smooth Love Potion (SLP), used to breed Axie. SLP is also an ERC-20 token, tradable on exchanges like Binance.
New players may encounter barriers to entry due to the relatively high price of Axie and sometimes high Ethereum gas prices. The Ethereum Ronin sidechain helps overcome this problem.
What is Axie Infinity (AXS)?
The AXS coin (Axie Infinity Shard) is not only a governance token, but also allows holders to stake and receive AXS rewards. These rewards come from the Community Treasury, which is generated from market fees and in-game purchases. The total supply of AXS will be 270,000,000 units. Some tokens have been allocated to the public offering, some to the play-to-earn feature and some to Sky Mavis and the project's advisors. The initial supply in the initial public offering was just under 60,000,000 units. The number of tokens issued is expected to increase annually until 2026.
AXS use cases
Axie Infinity wants to be a mature game that attracts players thanks to its vibrant community and growing ecosystem. For those who love Pokémon or Final Fantasy games, Axie Infinity is capable of providing a fun and engaging gaming experience.
In August 2021, Axie Infinity's daily active player count reached one million. Two months later, this number had nearly reached the two million mark. If it can attract a higher number of players, the game will certainly bring more value to the ecosystem. As we mentioned earlier, the Ronin sidechain has been implemented to further promote the game. The future free-to-play version will be similar.
By playing Axie Infinity, players can earn both AXS and SLP tokens. These tokens can then be exchanged for other cryptocurrencies. There have been gamers who have earned money from playing Axie Infinity.
u001dHow to store AXS
Since AXS is an ERC-20 token, it can be stored in any ERC-20 compatible software wallet, such as Trust Wallet, Binance Chain Wallet, Exodus, as well as hardware wallets such as Trezor One or Ledger Nano X You can also store AXS in the Ronin wallet, a specialized wallet for Axie Infinity.
What is Ronin Wallet?
Ronin Wallet is a cryptocurrency wallet that operates on the Ethereum Ronin sidechain. This is a browser extension that allows you to interact with the Axie Infinity Decentralized Application (DApp). Since Ethereum can have high traffic and fees, the Ronin chain greatly reduces the cost of playing Axie Infinity and interacting with smart contracts. Ronin Wallet is also compatible with other games that use the Ronin blockchain.
What is Ronin Bridge?
The Ronin Bridge allows you to transfer tokens from the Ethereum blockchain to the Ronin sidechain. ETH sent to the blockchain becomes wrapped ETH and can be used to purchase Axie creatures, SLPs, and other items. You can also transfer tokens from the Ronin blockchain to Ethereum to sell on marketplaces like Binance.
What is Smooth Love Potion (SLP)?
Smooth Love Potion (SLP) is an ERC-20 token on the Ethereum network. SLP tokens are the main source of income for players. Players can sell or use tokens to breed new Axies. Tokens have an unlimited supply, players can earn tokens by completing daily tasks and fighting other players. SLP tokens will be burned after being used for breeding and you can only mine a certain amount of tokens each day.
Uses of SLP
SLP has three main uses, causing the demand for SLP to increase:
1. The token allows users to breed a new Axie from two pre-existing Axies. The user needs a certain amount of Smooth Love Potion, which depends on the number of Axie's parent breeds.
2. Users will receive token rewards for reaching new levels with Axie, completing missions, and winning battles.
3. SLP holders can speculate on prices and trade tokens on cryptocurrency exchanges like Binance.
These are exactly the uses that help create the play-to-earn model we see with Axie Infinity. Users are willing to pay for tokens and miners are willing to earn tokens. By creating relatively simple SLP exploits, anyone with a combat Axie squad can start earning extra income.
How to start Axie Infinity using Ronin Bridge
If you want to buy the first Axies squad, you need to transfer a certain amount of ETH to the Ronin wallet. Since Ronin is a sidechain, you also need to wrap ETH (WETH) with Ronin Bridge. This process includes three main steps:
1. Buy ETH from an exchange like Binance.
2. Link ETH using Ronin Bridge.
3. Access Axie Market using WETH.
As a first step, make sure you have signed up for a Binance account and completed both the KYC and AML processes.
How to buy and transfer ETH to Ronin Wallet
1. Log in to your Binance account, hover over the [Trade] tab. Select [Basic] or [Advanced] transaction view.
2. Hover over the trading pair displayed on the left side of the screen and enter ETH in the search bar. Choose the right ETH pair, in this case we choose [ETH/BUSD].
3. Buy ETH using the order type of your choice. We choose the simplest method which is market order. Click [Buy ETH] to send the command.
How to connect ETH to Ronin Bridge
1. First you need to create a cryptocurrency wallet, if you don't have one already. Specifically, you need a wallet that can connect to the DApp. MetaMask or Binance Chain Wallet are both suitable options.
2. To start linking ETH, hover over the [Wallet] menu tab, then select [Fiat and Spot].
3. Find ETH, then click [Withdraw].
4. Copy the Ethereum ERC-20 address you want to deposit. This will be the deposit address from your external cryptocurrency wallet.
5. Click the [Network] field, then select [Ethereum (ERC20)].
6. Check the transaction details, then click [Withdraw] to deposit ETH.
7. Next, create a Ronin wallet. Please note that Ronin wallet is only available as a browser extension and not a desktop application. Be careful with scams. Ronin is not yet available for mobile users.
8. Go to the Ronin Bridge website, then click [Load]. Connect MetaMask wallet with popup.
9. Click [Next] and complete the wallet connection.
10. Copy your Ronin wallet address into the [Ronin Address] field.
11. Select the asset you want to deposit by clicking on the [Asset] field. In this example, we will deposit ETH.
12. Finally, click [Next] at the bottom of the page to confirm the details and link the token to the Ronin wallet.
13. Before playing, you need to create an Axie squad. Log in to the Axie marketplace, then select the Ronin wallet option. You'll need to do this if you've never created an Axie account before. If this is your first time logging in, you'll find instructions on how to open an account.
How to buy Axie on the Axie Marketplace
1. On the Marketplace, select the Axie you want to buy. Click on the avatar to learn about stats and other information about Axie. You can also use the filters on the left to aid your search. If you are new to the game mechanics, you should do your research before purchasing your first Axie.
2. On Axie's personal page, click the [Buy Now] button to complete the purchase. You need to confirm the transaction using the Ronin wallet extension.
Don't forget a full squad must have three Axies. You can find Axie squad building strategies and guides in the Axie Infinity community, so be sure to do your research before plunking down your money.
How to download Axie Infinity
Axie Infinity supports Windows, macOS, Android and iOS. The best way to install the game is to visit the Axie Infinity homepage, then tap the [PLAY NOW] button in the top right corner.
This will automatically download the app to your desktop or laptop. Please note that if you choose the iOS version for iPhone, you need to enable TestFlight on the device. This way you can install applications that are still under development. If you use Android, you need to install the .apk file downloaded from the loading screen.
General information about Axie
Each Axie is a small fantasy creature, made up of a combination of different attributes and characteristics. These attributes and characteristics include systems, stats, and body parts. As of October 2021, there are 9 different Axie systems.
What is the base Axie system?
Axie Infinity has nine types, of which three are special types (shown in bold below) with no unique Body Parts or Type Cards.
Axie's Attributes are an important part of how Axie fights. Each system has a weakness when fighting with this type of system but is stronger when fighting with another type. Cards are also linked to specific types, giving Axie a 10% attack bonus when using cards against weak types.
For example, Aquatic, Bird, or Dawn-type Axies will deal additional damage to Bug, Beast, or Mech-type Axies, but will receive additional damage from Plant, Reptile, and Dusk-type Axies. In other words, Group 1 systems are stronger against Group 2 systems, but weaker against Group 3 systems. Group 2 Axie is stronger against Group 3 but weaker against Group 1. Finally, Group 3 Axie is stronger against Group 1 but weaker against Group 2, thus completing the circle.
What are Axie Abilities/Cards?
There are 132 cards in Axie Infinity linked to six of the nine available systems. You can also divide the cards into their respective body parts, ranges, and costs. Although any Axie-type can use a card, it will deal additional damage if linked to the specific type.
What is the Axie Index?
Axies has a set of indicators that determine certain characteristics:
What are Axie's body parts?
Each Axie is made up of six body parts: ears, eyes, horns, back, mouth and tail. The last four parts will determine exactly which cards Axie can use in battle, and each part also affects the creature's stats.
How much money is needed to play Axie Infinity?
As of October 2021, the cheapest Axies costs around 130 USD (in WETH). The Axie lineup has three creatures, meaning you can start playing for around $390. The best way to find out how much it costs to start playing is to visit the Axie Marketplace and sort by price.
How to get Axie for free through scholarship
There are two possible ways to get Axie for free. First, you can get Scholarships from other players who offer free squads. Each scholar will then share a portion of the Smooth Love Potion they earned with the sponsor. This is popular because each user is only allowed one Axie account. Therefore, it makes sense for people to take advantage of their Axie.
Scholarships are provided and managed by other players, not the Axie Infinity team. Therefore, you should be cautious when participating. CoinGecko is where you can keep track of available scholarships. Once you have a squad, you can use this squad to fight in Arena or Adventure mode. Please note that only Axie holders (scholarship managers) can receive the SLP tokens you mine, and they have the right to decide on sending your share of the earnings in the deal. In most cases, academics and administrators will split 50% of the income equally.
Another way is to wait for Battles Version 2.0 to be released. This update features new game modes, giving users a free Axie to fight. However, these creatures do not earn tokens for sale. If you want to make money from playing Axie Infinity, you still have to buy your own squad or get a scholarship.
What factors affect Axie prices?
Axie prices can range from around $130 to over $100,000. Although Axie's value mainly depends on its power and in-game utility, there is also a lot of speculation involved. The original Axie from the game's early days is usually worth more. In addition, there is Mythical Axie which looks more colorful and is especially rare. Typically, rarer attributes also provide the most utility in the game and come at a higher price. Amid Axie Infinity's growing popularity, the creature market is now influenced not only by players but also NFT collectors.
How to start SLP mining on Axie Infinity
Users can exploit SLP by playing in Arena mode (PvP) or Adventure mode (PvE). Fighting in both of these modes will consume your energy. When your energy is depleted, you can only complete adventures to farm SLP.
The energy you have depends on the number of Axies you have. You can see how much energy you have through the game's main menu at the top of the screen.
1. Daily quests will earn you 25 SLP. These tasks include daily attendance check, completing 10 levels in Adventure mode, and winning 5 matches in Arena mode.
2. Adventure Mode (PvE) helps you earn up to 50 SLP per day. The specific amount may vary depending on the level you are playing. The first time you play a level, you will receive SLP. However, subsequent plays on a level are not guaranteed to give you SLP. Defeating the boss will also get you SLP.
3. Arena (PvP) will find other players suitable for you based on your rank. Your rank also changes the amount of SLP you gain per win. Each match costs energy, so the amount of SLP you earn in a day will depend on how many matches you play that use energy.
Please note that you can still play the game even when you run out of energy. However, PvP matches will not give you SLP rewards and PvE matches will not give you any experience. But you can still level up or do daily missions.
How to get SLP from Axie Infinity
After earning SLP, you need to receive SLP manually. You can only get SLP once every 14 days.
1. From the Axie Infinity homepage, connect your Ronin wallet, then select [Get Token] from the menu. Then, click [Receive SLP] to transfer tokens to Ronin wallet.
2. Access your account and make sure your Ronin wallet is connected. Click [Receive Token] in the menu, then click [Receive SLP].
3. At this stage, you can transfer SLP to Ethereum wallet if you want to sell SLP. You can also send directly to the Ronin Binance wallet to avoid paying Ethereum gas fees.
What is Axie Land?
Axie Land are plots of land in Lunacia, the world where Axie creatures live. This universe consists of a grid of 301x301 lots, which will be sold in several offerings. 25% are sold in the initial offering and all prices will increase by 10% in future offerings.
Pink squares are home to world events, dungeons, chimera spawn locations, and public resource nodes. The map also has an area called Luna's Landing for content creators and paths to take. Chests contain purchasable lands, and multiple chests purchased together will contain lands in neighboring areas.
How to buy and transfer AXS to Ronin wallet
Players can use AXS for governance, staking or breeding. If you are a breeder or want to start breeding Axie, you can send AXS directly from Binance to the Ronin wallet without needing the Ronin Bridge. This way, you will save on Ethereum gas fees since you can skip the step of transferring to an external wallet. Just like ETH, AXS can be purchased on Binance.
1. First, you need to log in to your Binance account, hover over [Trade], then select the [Basic] or [Advanced] view.
2. Next, hover over the displayed trading pair and enter AXS in the drop-down menu. Choose one of the pairs. In this example, we will use [AXS/BUSD].
3. Select the order type and quantity you want to buy. We will choose a simple market order. Click [Buy AXS] once you have confirmed the order details.
4. To start withdrawing money to Ronin wallet, you need to hover over the [Wallet] button, then select [Fiat and Spot].
5. Find AXS, then click [Withdraw].
6. Select the [Network] field.
7. Select the Ronin network from the list.
8. Make sure you have read and understood the warning displayed on the screen. You need to replace the ronin: prefix with the 0x prefix before withdrawing.
9. Finally, enter the amount you want to deposit, then click [Withdraw].
10. Once the withdrawal process is complete, you will see AXS or WETH in your Ronin wallet. You can then use the tokens to breed or buy Axies on the market.
summary
The future of AXS and SLP tokens depends on the appeal and popularity of the Axie Infinity game. The gameplay is fun, detailed, and still has a lot of potential to grow as a game to play for money. It's clear that over the years, the game has affirmed its value and the project team is constantly trying to release updates and new features to attract more players. Only time will tell whether Axie Infinity will continue to be successful in growing its user base, but it is certainly one of the more interesting NFT titles in the blockchain space.
