5 things I wish I knew before joining Axie Infinity
In the previous article, we explained the reasons for the recent dramatic surge of AXS (Axie Infinity tokens). Its popularity and high returns have made crypto investors and traders wonder if they should buy in or not. Hence, if you are an investor who is interested in this emerging token, here are some points to notice before you decide to buy AXS and join the Axie Infinity community.
Axie Infinity is not the only play-to-earn game
The popularity of Play-to-earn and Axie Infinity may create a wave of FOMO that urges you to start joining Axie Infinity. As such, if you are considering buying in AXS and SLP, keep in mind that there are several blockchain-based play-to-earn games available out there.
Below are 5 blockchain-based NFT games besides Axie Infinity to help you with more choices. These games use variable mechanisms to earn. Some will require an initial investment, others are free to play.
AXS has achieved a year-to-date price return of more than 7,000%
The cryptocurrency market has been watching the dramatic growth of AXS and SLP in recent months.
According to Messari, AXS has achieved a year-to-date price return of more than 7,000% compared to BTC’s 33% and ETH’s 212%. Up to now, AXS has been on the list of the best-performing cryptocurrencies in 2021. AXS has reached its all-time-high at $49.82 on July 27, rising by 212% in a week.
Developer Sky Mavis called their game Axie Infinity “a nation with a real economy,” in which users are able to create their own economic policy and implement local governance in a virtual space. The metaverse has got attraction from a great number of players, leading to their revenue toward $120 million in July 2021, surging by 62 times compared to their revenue at the beginning of this year!
Users must own at least 3 Axies to join the game
Unfortunately, Axie Infinity is not free to play. As such, knowing the initial cost before buying AXS and SLP and investing in the game is a must.
Players must own at least 3 Axies to start playing, breeding, training, completing challenges, and battling. In the middle of 2020, it costed around $5 for a group of 3 Axies, however, with the current hype of Axie Infinity, Axie price has been skyrocketing.
Today one Axie can be sold for at least $190 on the marketplace. While the current average price is approximately $350, some rare and special Axie may cost much higher. Hence, a newbie will need about $1000 to start playing. Such a big investment!
But no worries, since we keep going to the next point to notice before buying Axie Infinity.
Axie Scholarships programs
Since the high initial cost has raised an issue to new players, the Axie community has developed the Scholarship Program to help newbies get around these expenses.
Axie Scholarship Program is a profit-sharing model where Axie owners lend their pets to new players so they can play the game and start to earn tokens without spending thousands of dollars.
This is a win-win relationship for both Axie lenders and the borrowers. Many long-standing players may own hundreds, even thousands of Axies, but they cannot play with them all at the same time. As such, by lending their left-over pets, they can earn some landing fee and have a team to play with. Meanwhile, the borrowers can save big bucks for buying new NFTs. The only upfront investment of new players is time and effort.
Be noted that Axie Scholarship is not an official program offered by Sky Mavis (Axie Infinity developers). Rather, these programs are run by long-standing and trusted members. Make sure you do your own research to find out a trustworthy Scholarship program to join.
Players may earn up to $1500 per month
According to Coindesk, an Axie player may earn around 4,500 SLP per month on average, which could rise to $1,500.
As such, many corporate employees in the Philippines quit their jobs to be full-time players since the profit from the game is higher than their wages. Especially during the Covid-19 pandemic, a lot of people lost their jobs and Axie Infinity has become their main income source.
Don’t forget that AXS and SLP are available to trade on Tokenize Xchange. Click HERE to register for AXS Webinar with Alson Chia! See you tomorrow!
Disclaimer
Cryptocurrencies are subjected to high market risk and volatility despite high growth potential. Users are strongly advised to do their research and invest at their own risk.
