The online video game Axie Infinity is on the ideas and order of NFT. It has a wide world of the economy in its game design, so it is widely known. This economy is so great that its operation and safety are pretty similar to a physical establishment. Axie Infinity uses cryptocurrencies that are Ethereum-based for its means of exchange.
Axie Infinity is a game centered on axies; its collection, breeding, sharing, etc. Axie Infinity operates by allowing the players on this platform to collect, breed, share and utilize these axies. Axies, in a simple way, are termed as trade characters or creatures, meaning that they are used to perform trade operations. It is also to note that axies are NFTs digitized.
For any player to start playing Axie Infinity, that player must purchase three axies before he is allowed to play, and as of 2020, you need an average of 400 USD to buy these three axies. By December 2021, the amount required to make this purchase has scaled up to1 000 USD, meaning that it has experienced about a 250% increase in price.
The model Axie Infinity is designed to operate is called the play-to-earn model. This model is players paying to have access to play the game, then earning as they play and then profit for them. The cost to start playing the game’s bill is on the players. The players then use their starting purchases to earn Ethereum-based cryptocurrencies present in the game as they keep playing their game.
The minimum number of days the Axie Infinity team has set up before players can cash out their won tokens is fourteen days. The tickets that the players win are allowed to accumulate even as they proceed in the gaming processes until the fourteenth day Mark is
reached, and then the withdrawal process is made available for that user.
Many people who studied the whole Axie Infinity game process have concluded that it is more or less a gambling process because the entire system is put n place so that its sustenance is on the flow of more/ new players into the site. If players stop coming into the game, the game will end and start again.
The Philippines have to make the most significant number of players in Axie Infinity. This result is because their government recognizes the whole Axie Infinity game. Thus, income from Axie Infinity is taxable even though the average pay for this game is a bit lower than their minimum income wage, generating additional revenue from their government. Visit https://parentzone.org.uk/article/everything-you-need-know-about-axie-infinity to read about Everything you need to know about Axie Infinity.
In the video game Axie Infinity, participants can buy assets embedded in the game as NFTs. One of such in-game assets in Virtual Land.
The whole Homeland of axies in the Axie Infinity game is called Lucia. This Homeland is divided into plots of land, which we can use as tokens. These plots of land serve as the home for the axies. It is their base where operations are suitable to be carried out.
While playing the Axie Infinity game, there are avenues to find different crafting resources and ingredients. These ingredients and resources can be used to upgrade the plots of land into better ones even as they develop over time. When these resources and components are on the land plots as nodes, they tend to create and increase the value of the land and the axies.
The Lunacia that is the Homeland contains plots of land totaling about 90,601 plots with different varieties, from forest to Savannah to Genesis and many more.
The Axie Infinity plots of land are NFTs, and then there is the possibility of trading by the players.
The concept of land plots on Axie Infinity came to play due to the fast-rising of the metaverse price. The land in Axie Infinity is also having a rapid increase in its price, thus becoming one of the most expensive digital assets in the order of the metaverse.
Because of the expansion of the metaverse, has drawn a lot of attention to it. This attention is one of the key reasons many online gaming systems and platforms have decided to monetize it, Axie Infinity inclusive. Monetizing the plots of land available in the Axie Infinity game has helped its team increase its whole worth, making it very known and attracting many players to itself. Its excellent fame is also accounted for because the significant revenue base for an additional and relatively fast source of income is the internet, thus making online games such as Axie Infinity easily accessible. For any plot of land, the first access to resources or ingredients available on the land plot belongs to the owner, not even the Axie Infinity team.
How can you access land to purchase in Axie Infinity?
● The very first step in accessing land to buy it is to open an Axie Infinity account
and a wallet
● Next is to make sure that you link the account to a wallet with Ethereum, which
supports the transaction, that is, for the transaction to occur.
● After completing the previous steps, the next thing is to visit the Axie Infinity marketplace and study the dashboard.
● Go to the menu, click on what you want to purchase, that is, land and then scroll through
the available grounds for sale, click on the type of land you want to buy.
● Confirm your transaction and pay. This idea makes you a landowner on Axie Infinity!
How much is required to purchase a plot of land in the Axie Infinity game?
The five major types of land on Axie Infinity, that is, Savannah, Forest, Arctic, Mystic, and Genesis, have a wide range of prices that differ from one another, with each one having the
range of the lowest and that of the highest.
1. Savannah: the lowest price for a Savannah plot of land is about $8,289 to $9,671. About five months ago, the highest Savannah plot of the land range was $2,453,262 but now,
you can purchase a Savannah land of the highest value at $1,624,457.
2. Genesis: A year ago, you would need the maximum amount of $27 626,825 to purchase
one land plot of Genesis, but now a land plot costs between $1,245,225 and $2,739,496.
3. Mystic: For a person looking to buy a mystic plot of land without much money, you can get between $35,138 and $52,485. A
price between $552,537 and $1,640,327.
4. Arctic: a low-risk spender can get a plot for $13,555, and a high-risk spender can get it for
5. Forest: This type of land seems to be without a significant difference. A land plot costs between $10,234 and $12,500 here on average.
How Axie Infinity Became a Major Income-Generating Stream to the Filipinos