Time Left0 Days
Final Date01 Jan 1970
Time Left0 Days
Final Date01 Jan 1970
Play-to-Earn (P2E) is a new sector of the gaming industry that allows users to earn cryptocurrency by fighting with avatars among themselves. A huge plus of the blockchain culture is that many of its branches have not yet reached the stage of mass adoption, which has already begun with the NFT and should soon begin with the metaverses.
One of these topics hidden from the mass user is P2E games (an abbreviation for “play to earn”) – blockchain platforms that allow players to earn money and create a business on the development of virtual characters and digital real estate. Millions of people in Asian countries have already dropped their jobs for these virtual spaces of crypto games that pop up like mushrooms after rain.
In essence, P2E is a mixture of games, metaverses and DeFi (analogues of traditional financial instruments implemented on the blockchain). It differs from the metaverses in that earnings are at the forefront, and not communication. If we compare them with DeFi, then in P2E, in addition to earning, there is a large gaming and cultural component. The basic elements of the game economy (also called tokenomics) are similar in most working and developing P2E games.
Is it a bubble or not? From the outside, this may look like a bubble and a Ponzi scheme (the scheme generates profits for early investors through funding by new investors who have just entered). Most P2Es have multiple sources of cash flow, and the economic models are similar to those in real life. For example, a rich person has a yacht or a horse that brings him prestige or profit.They require care and maintenance, which costs money. Owners pay insignificant sums for themselves and receive much more.
The same can be said about assets in P2E. When you decide to invest in P2E, you are repeating real-life models buying digital real estate and renting it out, or acquiring property and deciding what to do with it (for example, a spaceship that can explore planets and collect resources, or it can transport cargo). The popularity of P2E crypto games can be judged by the capitalization of the most popular of them, Axie Infinity.
Axie Infinity is known for its addictive gameplay that attracts users from all over the world. The main task in the Axie Infinity peculiar universe is the creation and development of the mythical creatures Axi.
First of all, the crypto game Axie Infinity is famous for its advanced economic base. The principle of operation of the AXS cryptocurrency is based on the gameplay of the Axie Infinity project. Any Axie Infinity user can start earning a digital coin. To do this, a full-fledged Axie Infinity economic base has been created that allows you to create and receive game assets, and then exchange them for currency.
The main characters of Axie Infinity are named Axie. They were copied from axolotls – these are amphibians that reach sexual maturity and become capable of reproduction without turning into an adult form.
To start the Axie Infinity game, you need to buy three Axis – a basic set at the lowest price will cost $300-400. After purchasing a team of three Axis, the player has the opportunity to use them in different ways.
You can complete daily Axie Infinity quests, fight in the arena with other players and cross the fabulous axolotls with each other. There are many generations of creatures, the first – rare – the cheapest Axi genesis will cost at least 2 ETH or $6000, especially rare and strong ones are sold for 200-300 ETH ($600,000-900,000).
When buying Axi, you can choose a pet according to dozens of parameters and abilities: from eye color to the strength of tail attacks and defense speed. When characters are crossed, a character is obtained that inherits the traits of their parents.
Earnings in this crypto game are made by doing the following:
Creation of new animals. Users can breed creatures for offspring. There is a limit for each unit.
Development of genetics. Each animal has 7 criteria for pumping. In addition, the owner can change body parts, due to which the animal will acquire a higher value. The cost of the creature ultimately depends on the modification.
Territory manipulation. For the gameplay, a certain territory is allocated – Lunacia. Each Axie Infinity player is given a certain piece of land that can be exchanged or sold.
Arena battle. Participation in tournaments is considered the best way to earn money in the shortest possible time. Not only the developers of the Axie Infinity, but also various sponsors can be responsible for organizing battles. For example, Sky Mavis is partnering with Ubisoft, HTC, and Samsung. Axie Infinity users are given the opportunity to improve the plots, so that as a result, they can earn even more digital currency by selling them. It is noteworthy that the Axie Infinity developers intend to continue to introduce new trends for the development of the economy.
By completing daily Axie Infinity quests and fighting other Axis, the player can earn two types of cryptocurrencies – SLP and AXS. SLP, or Smooth Love Potion, you get by beating other characters in battles and completing quests. For quests you can get 150 SLP. Earnings on Axie Infinity battles are limited only by time and the power of Axi. SLP can be easily exchanged for regular money on crypto exchanges or withdrawn to crypto wallets.
The second currency of the Axie Infinity project is AXS. A crypto game player receives it in battles with top players. With AXS, you can participate in the development of the project and vote for the adoption of innovations.
AXS is not only a cryptocurrency, but also an effective tool for managing the gameplay of Axie Infinity. The cryptocurrency was created in accordance with the ERC-20 standard. The main task of AXS is to encourage players to increase activity in the Axie Infinity ecosystem.
Axie Infinity players make money on the marketplace and in esports tournaments.
Decentralized platform management.
Large and active Axie Infinity community.
Support from business companies Samsung, Ubisoft, HTC.
Experienced and qualified development team.
If the rate of the SLP token falls, then the profitability of the Axie Infinity project will be minimal.
High barrier to entry.
The Axie Infinity project is still at an early stage and needs to be improved.
It is worth noting that Axie Infinity's unique business model has played a key role in the rapid growth in the value of AXS. The advantage is that the mechanism is designed to perform several tasks at once.The main purpose of Axie Infinity: firstly, it is a reward for players, fueling the interest of new users; secondly, decentralized project management. Axie Infinity users can receive tokens not only for the gameplay, but also for participating in voting.
All in all, the Axie Infinity platform has high potential, it has already gained popularity and literally helps gamers from third world countries to survive. Axie Infinity is an interesting example of the use of blockchain technology. It turns out that you can easily get cryptocurrency just by playing crypto games.