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Market

Axie Infinity Monster Fighting NFT game is becoming increasingly popular in developing countries

November 3, 2021 - Around 3 mins mins to read

It’s no secret that video game streaming platforms like Twitch have enabled gamers to make money by delivering their gaming experience to a gaming audience. But now the tokens of blockchain-based digital games like Axie Infinity have enabled users to make money just by playing the game. At the time of publication, Axie Infinity had over 360,000 simultaneous players.

Axie Infinity đạt số người chơi cao kỷ lục - VnExpress Số hóa

Based on data from ActivePlayer.io, while the US ranks third in terms of active Axie Infinity players, all other countries on the list are developing countries. An estimated 40% of the players live only in the Philippines. According to Twitter user Saharan-sub, Axie Infinity players in Ghana can earn around 854-2562 Ghanaian cedis per month ($ 140-420), a multiple of the country’s minimum wage.

Axie Infinity was created in 2018 by the Vietnamese video game developer Sky Mavis. The game contains creatures called “Axies” that the player collects and uses to duel the player and enemies. Each Axie is a non-fungible token or NFT that is minted on the Ethereum (ETH) blockchain.

One known way to make money is to buy and sell Axies in the market. Axies come in a variety of rarities, powers, and attributes. Most axes have very weak stats, but a few are very strong and were created through trial and error. These are the most commonly searched. Each Axie can only be bred a certain number of times to control the population, resulting in scarcity.

It takes three digital currencies to grow Axies; Smooth Love Potion (SLP), Axie Infinity Shard (AXS), and Ethereum (ETH), which are used for gas charges. Game Insights from Chill Axie listed the requirement to breed the rare Top Axie as 10,200 SLP ($ 683.90), 1 AXS ($ 137.81), and 0.1813 ETH ($ 823.30). ) for a total cost of $ 1,645.01.

Market data shows that over 2 million Axies have been bought and sold in the past few months – a value of 140,956.7 ETH ($ 639.5 million). The record for the most expensive Axie ever sold was hit last year at 300 ETH, or $ 1,375 million today.

But the earning potential isn’t limited to buying and selling Axies. By completing daily quests, defeating monsters and defeating other players in the arena, the user can get SLP as a reward. You can then sell them on a cryptocurrency exchange. In July, leaked videos showed an entire farm, including smartphones and other electronics, destined for harvesting SLP on the Axie Infinity. Some players have banded together on these farms and see them as an abuse of the game’s monetization game ecosystem.

# Blockchain game

# Cryptocurrencies

#Cointelegraph NFT

#Game

#Technology

business

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Author

Annie

Championing positive change through finance, I've dedicated over eight years to sustainability and environmental journalism. My passion lies in uncovering companies that make a real difference in the world and guiding investors towards them. My expertise lies in navigating the world of sustainable investing, analyzing ESG (Environmental, Social, and Governance) criteria, and exploring the exciting field of impact investing. "Invest in a better future," I often say. That's the driving force behind my work at Coincu – to empower readers with knowledge and insights to make investment decisions that create a positive impact.
Market

Axie Infinity Monster Fighting NFT game is becoming increasingly popular in developing countries

It’s no secret that video game streaming platforms like Twitch have enabled gamers to make money by delivering their gaming experience to a gaming audience. But now the tokens of blockchain-based digital games like Axie Infinity have enabled users to make money just by playing the game. At the time of publication, Axie Infinity had over 360,000 simultaneous players.

Axie Infinity đạt số người chơi cao kỷ lục - VnExpress Số hóa

Based on data from ActivePlayer.io, while the US ranks third in terms of active Axie Infinity players, all other countries on the list are developing countries. An estimated 40% of the players live only in the Philippines. According to Twitter user Saharan-sub, Axie Infinity players in Ghana can earn around 854-2562 Ghanaian cedis per month ($ 140-420), a multiple of the country’s minimum wage.

Axie Infinity was created in 2018 by the Vietnamese video game developer Sky Mavis. The game contains creatures called “Axies” that the player collects and uses to duel the player and enemies. Each Axie is a non-fungible token or NFT that is minted on the Ethereum (ETH) blockchain.

One known way to make money is to buy and sell Axies in the market. Axies come in a variety of rarities, powers, and attributes. Most axes have very weak stats, but a few are very strong and were created through trial and error. These are the most commonly searched. Each Axie can only be bred a certain number of times to control the population, resulting in scarcity.

It takes three digital currencies to grow Axies; Smooth Love Potion (SLP), Axie Infinity Shard (AXS), and Ethereum (ETH), which are used for gas charges. Game Insights from Chill Axie listed the requirement to breed the rare Top Axie as 10,200 SLP ($ 683.90), 1 AXS ($ 137.81), and 0.1813 ETH ($ 823.30). ) for a total cost of $ 1,645.01.

Market data shows that over 2 million Axies have been bought and sold in the past few months – a value of 140,956.7 ETH ($ 639.5 million). The record for the most expensive Axie ever sold was hit last year at 300 ETH, or $ 1,375 million today.

But the earning potential isn’t limited to buying and selling Axies. By completing daily quests, defeating monsters and defeating other players in the arena, the user can get SLP as a reward. You can then sell them on a cryptocurrency exchange. In July, leaked videos showed an entire farm, including smartphones and other electronics, destined for harvesting SLP on the Axie Infinity. Some players have banded together on these farms and see them as an abuse of the game’s monetization game ecosystem.

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