Can Axie Infinity Replace Your Full-Time Job?
While growing up, our parents often told us to stop playing video games and that it won't help us earn money in the future. However, with the introduction of GameFi, NFTs and blockchain based games, people are now looking towards video games to help them earn money and even quit their day time job.
Is earning money possible through Axie Infinity?
Axie Infinity is a Pokemon inspired card game where players are tasked to contribute to the ecosystem through collecting, breeding, and battling fantasy creatures called Axies on the Polygon blockchain.
Players have the option of earning through playing or selling Axies on the marketplace. Players can earn Smooth Love Potions (SLP) which is a token within the Axie Ecosystem, by battling within the Adventure and Arena game modes, as well as completing daily quests. However, after the recent Season 20 update, the latter has been removed and the only way to earn SLP now is to win PVP arena battles. SLP is vital to earning as this token can be sold on marketplaces like Binance, from where they can be exchanged into fiat currency
How much profit can I make in Axie Infinity?
As mentioned before, the Arena Mode is one of the only ways to earn SLP, this also makes it the most difficult because this is a PvP mode, which means you will be battling against other real players.
SLP is currently priced at $0.00367847 or INR 0.29. The highest it's ever been was $0.399727 in July 2021 and hit its all time low of $0.00312759 in June 2020. The price has been volatile with the price dropping 4% within the last 24 hours of writing this. The price has dropped 98.6% within the last year.
During Arena battles, your Matchmaking Ranking (MMR) is what calculates your skill level. This will also influence how much SLP you will earn through Arena Mode. The breakdown is as follows:
It costs one energy to participate in an Arena Battle. Energy is refreshed over time and is directly dependent on the number of Axies you own. For example, if you have over 20 Axies, you get five energy every two hours or 60 energy per day. If you’re just starting out though, three to nine Axies will give you five energy every six hours and 10-19 Axies will give you five energy every three hours.
(To start playing, you need a minimum of three Axies)
Theoretically with SLP currently priced at $0.00367847 or INR 0.29, this means if you’re just starting out with three Axies and an MMR of 0, you will have 20 energy a day. If everything goes right and you win all your matches you will get a total of 20 SLP which results to only $0.078159 or INR 5.
However, if you don’t want to spend time within the Arena mode, you can also earn through breeding Axies. The Axies double up as NFTs and to breed them you need two Axies which are fertile and compatible, $SLP tokens and Axie Infinity Shards (AXS. The breed Axies can be sold on the marketplace with the Axie’s quality and stats influencing its selling price.
As of writing this, the ‘floor’ Axies with relatively low stats are selling for as low as $5.
The last way to earn through Axie is to buy and invest in Land on Lunacia which is a plot of land that acts as a customizable home or base for the Axies. The land can be rented out to other players as well as sold or combined in alliances and guilds. But to get started with this method, you need to have strong funding.
Land also contains resources that spawn depending on the type of land you buy, this will allow you to upgrade your Axies and land, which can be purchased on the marketplace and the cheapest plot is currently selling for 1.38 ETH which is $1,465 (INR 116,589).
In Summary, Axie at one point, was a valid way to earn money and replace your job with the citizens in the Philippines even actually quitting their day job to invest their time and energy into Axie Infinity. But recently with the bear market and the hype dying out, our personal recommendation is to play Axie on top of your actual job or even keep your eye on new projects that are frequently released with new and innovative features .
This story was written in partnership with Linx Games
Linx Games is a community-driven blockchain game distribution platform for gamers and developers to interact, socialize and exchange ideas.