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The crypto market is a fundamental space moving with a plethora of opportunities, waiting for the right people to interact with these opportunities and make a fortune for themselves. It is an extremely new and elegant space as compared to other financial markets such as forex, stock, or conventional banking markets that are overflowed by potential buyers and people taking advantage of each and every opportunity presented to them.
If you really dive into the prospect of opportunities present within the crypto market, then you would find that there are actually a bunch of things that might tempt your attention or you would want to invest your money into. First of all, you have got cryptocurrencies; these are the very products of the crypto market and are available for active trading, direct investment, or exchange-traded funds-oriented schemes as well.
Moving on, you have got non-fungible tokens; these are the digital art pieces that live and breathe on blockchain technology and are bought and sold just like any other asset or commodity out there but using the decentralized approach of the crypto market.
Today, we will be talking about Axie Infinity, which is a blockchain game that is a kind of non-fungible tokens that meet Pokémon, and bam there’s a game. But before we dive into it, there is something else that needs to be explained first; otherwise, whatever comes next won’t make much sense to you.
The Evolution of Non-fungible Tokens
When we really look into the development of the crypto market and how it has reached its present size, the first thing that was there from the very beginning and is considered the pioneer of blockchain technology is the flagship cryptocurrency, Bitcoin. It was the first token to have ever started trading on the crypto market, and later on, various other tokens by the name of altcoins; alt means an alternative to Bitcoin, came to be.
There are hundreds of different tokens out there, working on different consensus algorithms and backing up different aspects of the crypto market. Most of them are just like digital money, it is like converting your fiat currency into a decentralized alternative and then storing that money in a secure wallet, but some of these tokens are for specific elements.
For example, there is a token that can only be used to develop websites on blockchain technology; you can pay for the processing aspects of your website or any other app that you are developing on the decentralized media with the help of that specific token. Other than that, it has potentially no other use case. Just like that, there are tokens that can only be used to buy decentralized music; other than that, they have no use case whatsoever.
The same thing applies to the principle of non-fungible tokens. They only have one potential use case, and that is to depict visual art made by artists and divide it into multiple bits or pieces, which are then made available on the crypto market that you can eventually purchase.
For example, there is a painting, say of a flower, and it is virtually designed; someone has developed it using computer programs or editing software and has made it available on a certain crypto exchange as a non-fungible token, which means that you can buy that specific item. But there is a catch here you can’t buy the whole of it because to maximize the profit, the developer or owner of this art has divided this entire thing into hundred or, say, thousands of pieces.
Each piece corresponds to a specific element of the painting; it could represent a petal, stem, leaf, or any other part of the flower or the scenery behind it. This is how non-fungible tokens work; you can buy them trade them, or store them only to sell them at a maximum profit margin.
This is basically how non-fungible tokens work; at a certain period of time, it was a dwindling market, and investors were losing their interest and confidence in multiple tokens, and that is why they were prioritizing crypto-related futures options, exchange-traded funds, and other such opportunities but that is once again in the past and investors are ready to pour their money into non-fungible tokens once again.
This is why many applications and games have been inaugurated specifically to cover that prospective phase of the market. As a way of recording the overall interest of people, certain applications were launched back in the day, which promised the user rewards in non-fungible tokens of some of the most famous works of the digital artists by completing various chores or tasks presented by the app. Axie Infinity, the Pokémon-inspired non-fungible token game, is no different; we shall be talking about it in grave depth shortly.
What is Axie Infinity?
As explained earlier, it is actually a game that features non-fungible tokens in the form of the Pokémon. The ultimate purpose of the game is to engage players in creating their own cute NFT pets that are known as axies. They can raise them, the battle for them, or create these with other players using the Axie Infinity as the main platform for the exchange.
It is going to sound a little weird, but actually, there are different crypto tokens that are associated with this particular game, and these are Axie Infinity shards and a small love potion.
The first one can be bought as an investment media on various cryptos exchanges out there, but the latter one is given to the players for the overall amount of time that they are spending within the game for the sake of playing and exploring this beautiful Pokémon oriented title.
The game was launched back in the summer of 2021, and since then, it has been the biggest mainstream decentralized hit. Earlier, people were to download Pokémon Go, another gaming app that was available across all the centralized platforms, and it employed people with the task of hunting for Pokémon with the help of the back camera of their smartphones and then capturing them as if they would within the anime series.
These cute creatures present within the Axie Infinity are extremely popular among the young ones because they would literally trade any quantity of these axies that they have in abundance to get their hands on those which they are lacking.
Other than the exchange of non-fungible tokens, the game provides users with the ability to purchase virtual real estate, which can be purchased from the in-game marketplace, and that trade too will remain in the form of non-fungible tokens.
You can build your own Pokémon empire by buying the virtual land and building stuff on it. The game works on many different levels; you can choose your role as per your likeness to the character or the story of the game, and after you have set up your account and your role within the game, you can go about looking for these axies that you are so fond of.
Even when the non-fungible token is being purchased from the store or being traded by another player, the network of the game is going to entertain it as a transaction. All the transactions that take place for the network are extremely efficient, fast-paced, and secure from top to bottom.
The blockchain of the game works as the digital Ledger for keeping a record of all the transactions that have been commenced over the blockchain in terms of buying or selling of non-fungible tokens, and it is also said that this blockchain is way faster than the Ether blockchain and at the same time extremely cost-efficient.
You are not tricked into spending more money for buying more than one non-fungible token because actually, the network is going to facilitate you in the same transaction even if you are buying more than one, and that is a plus point.
Working Mechanism of Axie Infinity
Another extremely hot trend that is prevalent within the crypto market is the ‘play to earn’ game mode. It means that there is going to be a game within the blockchain technology, and players would be invited to play the game not for free because they would either be earning rewards in the form of game items or elements required to become better regarding the gameplay or actual native token of whatever blockchain on which the game itself resides.
The same is true for Axie Infinity which is also a play-to-earn game where players would be able to receive handsome rewards for giving their precious time, and other ways they can earn money is through selling.
There are items such as the Pokémon pets they have at hand, digital real estate that they have bought through the in-game marketplace, and other accessories which they have picked up over the course of their exploring the game itself.
All of this and more could be done by the non-fungible token marketplace present within the game, and as a method to boost the engagement of the user, they are also able to collect whatever tokens their gaming sessions generate. As explained earlier, there are two different tokens that are used within the game.
Axie infinity shards are the first kind of token that could eventually be bought and sold on almost every other major crypto exchange out there, and therefore it can serve its role as something that you can trade actively, especially if you had bought the token at a descending price while chipping it in to earn a handsome profit.
But, that being said, you require some of this token to be able to play the game because it is the primary requirement every time you sign in for a dedicated session with the Axie Infinity.
Other than that, you can trade the token just as you would any other cryptocurrency; the trick here is to play the game extensively and hunt down special items that are unique so that you can sell them off if need be to acquire more and more of this token.
Other than that, another key feature of this token is that it can work as a governance token which means that if a holder has a handsome quantity of these tokens, then they are welcome to chip in their votes regarding various governance and privacy-related matters of the blockchain. This means that their work will be important in dictating multiple updates that are rolled out for the game itself.
There is another token by the name of small love portion, which is kind of a secondary token on this very blockchain. This is usually given to the players who have spent a particular time exploring the game, completing various levels, and building up their profile within the game.
If you end up beating an opponent within the game, then you could also win this small love potion token; other than that, you would be awarded this token for completing various in-game quests.
It usually depends on how much you play; if you continue to play more and more while exploring the vastness of the game, then yes, you will be continually awarded this token.
The game is already churning up a huge hype as the data suggests there are about 1 million active players who are interacting with the game on a daily basis which says a lot not only about the performance of the game but also the engine on which it is running and the overall idea around which it revolves.
Axie Infinity’s Native Token
As for the present price of Axie Infinity native token, it is cumulative, which means it is susceptible to change. You might want to trade into that specific cryptocurrency for the sake of earning a handsome profit by turning that specific crypto in when the prices are soaring up, but it might not go in your favor because of the volatility aspect of the crypto market.
Anything that is even remotely related to the blockchain technology or crypto industry is susceptible to that specific type of volatility that non-fungible tokens, decentralized apps, exchange-traded funds, and other associated affiliations with the crypto market exhibit at times.
So if you were getting into this specific native token just for the sake of making a quick buck, then you need to think again because there are better and more efficient options available on the market, but on the other hand, if you were going to give it a ride because of how incredible the game is then, by all means, get yourself ready and dive into the vastness of this incredible enterprise.
How to Play Axie Infinity
Many games that you enjoy today, either on consoles or on your personal computer, might only have a few preliminary requirements which need to be fulfilled, and in most cases not, it is the same thing which is to first create a free account for the game development studio so a profile could be set up where all your progress will be recorded in real-time.
The same thing applies here in the context of the Axie Infinity game, but to be clear on things, you require an Ether wallet and some Ether in it to actually access the game. You don’t have to have a lot of Ether tokens in here, but it is alright if you go a little over the board to get yourself some fine axies with that money.
Now that you have created your wallet and have put some Ether into it, you need to now link that wallet with the game itself, you would have to go through a series of steps to do so, and upon successful connection, the game will let you know that it has actually rebounded with the crypto wallet that you have but isn’t enough even yet to enjoy the game.
To kickstart your journey, you require at least three different axies from the very marketplace of the game because you definitely require some of these elements to start your adventure. You need to be wise when selecting your axies, because those which are rare are going to cost you a little more than the standard ones.
After you have purchased these axies and have confirmed the linking of Ether crypto wallet with your account now, you can move forward and start playing the game.
The metrics of the game are going to be extremely simple, and most of them have been already discussed; anything that strikes as a bit odd or strange to you is because of the fact that it might not have been covered earlier within the article, but there are enough tutorials present for each and every element for this game, and you won’t have any problems trying to interact with these said tutorials.
Continue to defeat the opponents, solve multiple quests that the game itself throws your way, and you will have an incredible time playing and exploring the game to its ultimate stretch.
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