Buying Your First Set of AxiesĪxies are traded on the marketplace in Wrapped Ethereum (WETH).
A crypto wallet is a digital wallet that holds your cryptocurrencies, similar to current digital wallets such as Cash App and Venmo that hold your money. Players have to set up a Ronin wallet in order to interact with the Axie Infinity marketplace. The first step to interacting with any crypto application is to set up a crypto wallet and Axie Infinity is no exception. Sky Mavis has a great onboarding website that takes you step by step and it’s recommended that new users check it out after reading through the overview below. There are 4 main steps to getting started with Axie Infinity: Creating a wallet, buying your first set of Axies, creating an in-game account, downloading the game. Nansen's Axie Infinity Dashboard (Publicly Available) In the past year, the game has generated over $1.3B in revenue and the marketplace has facilitated over $4B in transaction volume. This creates stronger incentives between the players and the developers to focus on building the best game possible to attract players into the ecosystem.
In Axie Infinity, the developers earn by taking a fee on in-game activity such as trading on the marketplace and breeding of Axies. In traditional games, developers typically earn by selling in-game items or in-game benefits to the players. This allows players to extract the monetary value that they’ve created by playing the game. Users have the freedom to trade their Axies and sell the cryptocurrency tokens that they’ve earned for their own local currency. Axies and in-game items are NFTs and in-game currencies (SLP, AXS) are cryptocurrency tokens. It’s most commonly described as a Pokemon-esque game where instead of Pokemon, you interact with digital pets known as Axies. Axie Infinity is a play-and-earn, turn-based card game that incorporates non-fungible tokens (NFTs) and cryptocurrencies.
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