TL;DR
It's 2021. In this year, you can make money by playing games and raising virtual pets. An easy way to understand Axie Infinity is to imagine a blockchain game that combines Pokémon, CryptoKitties, and card game elements.
More specifically, Axie Infinity is a game and NFT ecosystem built on the Ethereum blockchain. The native cryptocurrencies are the ERC-20 tokens Axie Infinity Shard (AXS) and Smooth Love Potion (SLP). AXS is a governance token and SLP is used to farm new Axie. AXS is also available as a BEP-20 token on Binance Smart Chain (BSC).
Each Axie creature has a different class and consists of various body parts, stats, and other attributes. To play, you need a group of Axie that can be purchased or provided by other players. You can store tokens and NFTs in your Ethereum wallet or Ronin Wallet. The Ronin sidechain enables near-instant transactions as well as allowing players to transact tokens and Axie without using the Ethereum blockchain, thereby reducing transaction costs.
In the future, you will also be able to purchase Land NFTs. AXS and SLP can be purchased on Binance and can be transferred to Ronin Wallet. You can also use Ronin Bridge to send tokens from your Ethereum wallet to Ronin Wallet.
Introduction
Following the concept pioneered by CryptoKitties, Axie Infinity is an Ethereum-based collectible game that has been growing since 2018. This game is the work of a Vietnam-based startup, namely Sky Mavis, which started as a dream project before becoming a popular Ethereum game.
Axie Infinity Shard (AXS) is a token of the Axie Infinity ecosystem. AXS is an ERC-20 governance token launched in November 2020. AXS tokens can be purchased, traded, or earned by playing games. AXS rewards are awarded to top ranked players after each season.
Other Axie Infinity tokens include gaming assets (your Axie) in the form of ERC-721 tokens and Smooth Love Potion (SLP), which are ERC-20 tokens. SLP is well-known for being part of the play-to-earn movement that allows gamers to generate a fairly stable income just by playing Axie Infinity.
What is Axie Infinity?
In the Axie Infinity ecosystem, game characters are called Axie. These are non-fungible tokens (NFTs) that you own and control. You can store them in a crypto wallet, transfer them to another Ethereum address, or trade them with other players using blockchain-based marketplaces. Apart from Axie, this game has virtual lands and items which are also ERC-721 tokens.
In this ecosystem, players can use Axie teams in Adventure mode (PvE – Player vs. Environment) to battle monsters in Lunacia – the kingdom of Axie Infinity. They can also choose Arena mode (PvP – Player vs. Player) to battle other real-world Axie trainers. When you win, you get an asset called Smooth Love Potion (SLP) which is used to breed Axie. SLP is also an ERC-20 token that can be traded on exchanges such as Binance.
There may be barriers to entry for new players due to Axie's relatively high prices and Ethereum's sometimes high gas fees. The Ethereum Ronin sidechain helps mitigate this problem.
What is Axie Infinity Shard (AXS)?
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 filled with marketplace fees and in-game purchases. The total supply of AXS will be 270,000,000. Some tokens are allocated to the public sale, some to the play-to-earn feature, and some to Sky Mavis and project advisors. Initial supply at the first public sale was just under 60,000,000. The number of tokens released is expected to grow every year until 2026.
Use of AXS
Axie Infinity wants to be a mature game that attracts players with a strong community and successful ecosystem. For fans of Pokémon or Final Fantasy, Axie Infinity offers an exciting game experience to dive into.
In August 2021, Axie Infinity reached one million daily active users. Two months later, the number had nearly reached two million. If this game can gather an even larger player base, of course it will add more value to this ecosystem. As we mentioned at the start, the Ronin sidechain has been implemented to drive even greater growth. A future free-to-play version will do the same as well.
By playing Axie Infinity, players can generate AXS and SLP tokens. Then, these tokens can be exchanged for other cryptocurrencies. There are already many gamers who make money playing Axie Infinity.
How to save AXS
Because it is an ERC-20 token, AXS 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 AXS in our Ronin Wallet, which is a wallet made specifically for Axie Infinity.
What is Ronin Wallet?
Ronin Wallet is a crypto wallet that operates on the Ethereum Ronin sidechain. This wallet is a browser extension that allows you to interact with the Axie Infinity Decentralized Application (DApp). Because Ethereum can experience high traffic and fees, the Ronin chain makes playing Axie Infinity and interacting with its smart contracts much cheaper. Ronin Wallet is also compatible with other games that use the Ronin blockchain.
What is Ronin Bridge?
Ronin Bridge allows you to transfer tokens from the Ethereum blockchain to the Ronin side chain. ETH sent to the blockchain will become wrapped ETH and can be used to purchase Axie creatures, SLP, 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. These tokens can be sold or used to farm new Axie. These tokens have an unlimited supply and can be earned by completing daily quests and fighting other players. SLP tokens are burned after being used for farming and there is a limited number that can enter farming per day.
Uses of SLP
SLP has three main applications driving its demand:
1. This token provides the ability to breed a new Axie from two existing Axie. A certain amount of Smooth Love Potion will be required which depends on the number of animals in a pair of Axie.
2. Users can receive these tokens as rewards for reaching new levels with Axie, completing quests, and winning battles.
3. SLP owners can speculate on the price and trade it on crypto exchanges such as Binance.
This utility helps create the play-to-earn model we see in Axie Infinity. Users intend to pay to get these tokens and farmers are willing to accept them. By creating a relatively simple method for farming SLP, anyone with a startup Axie team can start generating income.
How to start Axie Infinity using Ronin Bridge
If you want to buy your first Axie team, you will need to put some ETH into Ronin Wallet. Because Ronin is a side chain, you also need to wrap your ETH (WETH) with Ronin Bridge. This process requires three main steps:
1. Buy ETH from an exchange like Binance.
2. Bridging ETH with Ronin Bridge.
3. Accessing Axie Marketplace with WETH.
For the first step, make sure that you have registered for a Binance account and completed KYC and AML.
How to buy and transfer ETH to Ronin Wallet
1. Log in to your Binance account, hover over the [Trade] tab, then select [Classic] or [Advanced] trading view.
2. Move the cursor to the trading pair displayed on the left side, then type ETH in the search bar. Select the appropriate ETH pair. In this example, we choose [ETH/BUSD].
3. Buy ETH with your preferred order type. We choose the simplest method using market orders. Click [Buy ETH] to send your order.
How to bridge ETH with Ronin Bridge
1. First, you need to create a crypto wallet if you don't have one yet. You will especially need a wallet that can connect to the DApp. MetaMask or Binance Chain Wallet are good choices.
2. To start ETH bridging, hover over the [Wallet] menu tab, then select [Fiat and Spot].
3. Search for ETH, then click [Withdraw].
4. Copy the desired ERC-20 Ethereum address as a deposit destination. This will be the deposit address of your external crypto wallet.
5. Click the [Network] field, then select [Ethereum (ERC20)].
6. Check the transaction details, then click [Withdraw] to send ETH.
7. Next, create a Ronin Wallet. Note that this wallet is only available as a browser extension and not a desktop client. Beware of fraud. Ronin is not yet available for mobile users.
8. Visit the Ronin Bridge website, then click the [Deposit] button. Connect your MetaMask wallet with the pop-up that appears.
9. Click [Next], then complete your wallet connection.
10. Copy the Ronin Wallet address into the [Ronin Address] field.
11. Select the asset you want to deposit by clicking [Asset]. In this example, we will deposit ETH.
12. Finally, click [Next] at the bottom of the page to confirm your details, then bridge the tokens to Ronin Wallet.
13. Before you can play, you need to create an Axie team. Enter the Axie Marketplace, then select the Ronin Wallet option. You should do this if you have never created an Axie account before. If this is your first time logging in, you will find instructions on how to create one.
How to buy Axie on Axie Marketplace
1. In the Marketplace, select the Axie you want to buy. Click on the avatar to find out status and other information. You can also use the filters on the left side to help with your search. If you are not familiar with the mechanics of this game, we recommend that you do some research before purchasing your first Axie.
2. On the individual Axie page, click the [Buy now] button to complete the purchase. You need to confirm the transaction using the Ronin Wallet extension.
Don't forget that a complete team requires three Axies. There are strategies and guides for building teams available in the Axie Infinity community. So, make sure to do some research before spending your money.
How to download Axie Infinity
Axie Infinity is available for Windows, macOS, Android, and iOS. The best way to install this game is to visit the Axie Infinity home page, then click the [PLAY NOW] button in the top right corner.
This will automatically download the client for your desktop or laptop computer. Note that if you choose the iOS version for iPhone, you will need to enable TestFlight on the device. This will allow you to install applications that are still under development. For Android, you need to install the .apk file downloaded from the splash screen.
Axie Overview
Each Axie is a tiny fantasy creature made from a combination of various attributes and characteristics. This includes class, status, and body parts. As of October 2021, there are 9 types of Axie classes.
What is Axie base class?
Axie Infinity has nine classes. Three of these are special classes (shown below in bold) with no unique Body Parts or Class Cards.
Axie's class is an important part of how he fights. Each class has a weakness against other types of classes, but is stronger against other classes. Cards are also associated with certain classes, so they give a 10% attack bonus when they use the card against a weak type.
For example, an Axie Aquatic, Bird, or Dawn will deal extra damage against an Axie Bug, Beast, or Mech, but will take extra damage from the Plant, Reptile, and Dusk classes. In other words, Group 1 classes are strong against Group 2, but weak against Group 3. Group 2 Axies are strong against Group 3, but weak against Group 1. Lastly, Group 3 Axies are strong against Group 1, but weak against Group 2, thus forming a cycle. .
What are Axie Abilities/Cards?
There are 132 cards in Axie Infinity relating to six of the nine available classes. You can also divide these cards into their associated body parts, ranges, and costs. Even though every Axie class can use cards, there is bonus damage associated with a particular class.
What is Axie status?
Axie has a set of states that define certain characteristics:
What are Axie's body parts?
Each Axie has a combination of six body parts: ears, eyes, horns, back, mouth, and tail. The final four body parts determine the cards an Axie can use in battle and each also affects the creature's stats.
How much does it cost to start playing Axie Infinity?
As of October 2021, the cheapest Axie fee is around 130 US dollars (in WETH). Your Axie team will have three creatures which means that you can start with around $390. The best way to find out how much it will cost to start playing is to visit the Axie Marketplace and sort by price.
How to get free Axie through scholarships
There are two possible ways to get free Axie. First, you can get scholarships from other players who provide free teams. Then, each scholarship recipient will give part of the Smooth Love Potion obtained to the donor. This is a popular method, as users are only allowed to have one Axie account. Therefore, people are taking advantage of their Axie.
Scholarships are awarded and managed by other players, not the Axie Infinity team. So, you have to be careful when receiving it. CoinGecko is one place to track available scholarships. Once you have a team, you can use it to fight in Arena or Adventure mode. Note that only Axie owners (scholarship managers) can claim the SLP tokens you farm and they are the ones who decide to send your share of the deal. In most cases, the grantee and manager share 50% of the earnings.
The alternative method is to wait for the release of Battles Version 2.0. This update will unlock a new game mode that will give users free Axie to battle with. However, these creatures cannot produce salable tokens. If you want to use Axie Infinity as a play-to-earn game, you still have to buy your own team or get a scholarship.
What influences the price of Axie?
Axie can range in price from around $130 to even over $100,000. While its value depends primarily on strength and utility in the game, there is also influential speculation. A genuine Origin Axie from the early days of the game is usually worth more. There is also a Mythical Axie which looks more colorful and is very rare. Typically, rare attributes also provide the most utility in the game and command a higher price. With the huge popularity of Axie Infinity, the market for these creatures is now influenced not only by players, but also by NFT collectors.
How to start farming SLP on Axie Infinity
Users can farm SLP from Arena matches (PvP) or Adventure mode (PvE). Competing in both of these activities will require energy. Once the energy runs out, you will only be able to complete the adventure to farm SLP.
The amount of energy you have depends on the number of Axie you have. You can see how much energy you have via the game's main menu at the top of the screen.
1. Daily quests will earn 25 SLP. These tasks include performing daily check-ins, completing 10 levels of Adventure mode, and winning 5 Arena matches.
2. Adventure Mode (PvE) allows you to earn up to 50 SLP every day. The specific amount varies based on the level played. The first time you play a level, you will receive an SLP. However, playing a particular level in the future does not guarantee an SLP reward. Defeating the boss can also give you SLP rewards.
3. Arena (PvP) pits you against other players based on your ranking. Your rank also changes the amount of SLP you earn each time you win. Every game will require energy. So, the amount of SLP earned in a day will depend on the number of games played using energy.
Note that you can still play the game even if you run out of energy. However, PvP matches will not provide SLP rewards and PvE matches will not provide experience. However, you can still climb the ranks or do daily quests.
How to claim SLP from Axie Infinity
After generating an SLP, you must claim it manually. You can only claim SLP once every 14 days.
1. From the Axie Infinity home page, connect your Ronin Wallet, then select [Claim Tokens] from the menu. Then, click [Claim SLP] to transfer tokens to your Ronin Wallet.
2. Open your account, then ensure that Ronin Wallet is connected. Click [Claim Tokens] in the menu, then click [Claim SLP].
3. At this stage, you can transfer your SLP to your Ethereum wallet if you want to sell it. You can also send them directly to your Ronin Binance wallet to avoid Ethereum gas fees.
What is Axie Land?
Axie Land is a plot of land in Lunacia, which is the world where Axie creatures live. This universe consists of a 301x301 grid that will be sold in several sales. 25% is available for the first sale and all prices will increase by 10% in future sales.
The pink box will hold world events, dungeons, chimera spawn locations, and public resource nodes. This map also contains an area called Luna's Landing for content creators and a road to travel. Chests containing land types can be purchased and multiple chests purchased together will contain lands in adjacent spaces.
How to buy and transfer AXS to Ronin Wallet
AXS can be used for governance, staking, or farming. If you are a breeder or want to start farming Axie, you can send AXS directly from Binance to Ronin Wallet without Ronin Bridge. This will save you Ethereum gas fees, as you can skip the step of transferring to an external wallet. Just like ETH, AXS can be purchased on Binance.
1. First, log in to your Binance account, hover over [Trade], then select [Classic] or [Advanced] view.
2. Next, hover over the displayed trading pair, then tap AXS in the dropdown menu. Choose a pair. In this example, we will use [AXS/BUSD].
3. Select the order type and quantity you want to buy. We choose a simple market order. Click [Buy AXS] after confirming your order details.
4. To start withdrawing to Ronin Wallet, you need to hover over the [Wallet] button, then select [Fiat and Spot].
5. Search for AXS, then click [Withdraw].
6. Select the [Network] field.
7. Select the Ronin network from the available options.
8. Make sure you read and understand the warnings displayed. You need to replace the ronin: prefix with 0x before continuing.
9. Finally, enter the amount you want to send, then click [Withdraw].
10. When the withdrawal is complete, you will see AXS or WETH in Ronin Wallet. Then, you can use these tokens to farm or buy Axie on the marketplace.
Closing
The future of AXS and SLP tokens depends on Axie Infinity's popularity and playability. The game is fun, detailed, and has a lot of potential to grow with its reputation as a play-to-earn game. Without a doubt, the game has proven itself over the past few years and the team is constantly working on updates and new features to attract more players to join. Only time will tell if Axie Infinity will continue to successfully grow its user base, but Axie Infinity is definitely becoming one of the exciting NFT games in the blockchain world.
