🧘♂️ Play To Earn
7 figure potential
The crypto space has been buzzing about a project that you may or may not have heard of, Axie Infinity. The blockchain based video game has been breaking a lot of records, managing to surpass the weekly revenue of all crypto projects out there, even Ethereum’s, as indicated by Axie’s Co-Founder. On top of that, the native tokens of the game, AXS and SLP have surged upwards at a whopping 39,792% and 9,451% since their all-time lows, in the span of just a year!
By now, you’re probably wondering what makes this game so special and sought after, well, that’s the Play-To-Earn nature of the game. Yes, you heard it right, this game pays you to play it. In fact, one of the guests we’ve had on our podcast, Bryce, turned his life around by going from $30,000 in debt to making over $1 million playing Axie!
✅ Also, in a similar fashion to just about every crypto project out there, it does require an initial investment and there’s a certain amount of risk attached to that, which is important to take into consideration. But, there are ways to play and earn even without any money required, which will be explained in the second part of the Axie guide.
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👾 Axie Infinity: Part 1
Before we dive into how to build wealth by playing the game, we need to start with the basics.
In Axie Infinity you will find a digital pet universe where players battle, raise and trade fantasy creatures called Axies. The first thing you need, in order to be able to play the game, are 3 Axies, which you can buy on the Axie Marketplace. As for these little creatures, they have a few distinct features that vary:
Stats (Health, Morale, Skill and Speed)
6 Body Parts (Eyes, Ears, Horn, Mouth, Back and Tail)
Classes (Reptile, Plant, Dusk, Beast, Bug, Mech, Aquatic, Bird, Dawn)
The features above are key when it comes to: determining the price of an Axie, how strong or weak it is in battle, what’s the best use for it and whether it’s good for breeding. Now, it’s time for the question we’ve all been waiting for, How do I play and earn?
Battles (PvE, PvP, Quests)
Starting off, you can go into battles with your Axies, which can earn you the in-game currency of the game when you win, SLP, short for Smooth Love Potion. SLP can be traded like a normal token on exchanges, such as uniswap. As of now, its price stands at $0.26 per token. SLP is essentially the in-game reward system of the game, and it’s needed to breed more baby Axies as well. There are two types of battles you can get into: PvE and PvP.
PvE Battle in Axie Infinity
PvE, stands for Person versus Environment, and it means you’re battling against monsters, you’re up against enemies that are controlled by a computer and not a human player, with each win getting you some SLP. And if that sounds easy for you, I challenge you to try it out, they’re pretty strong and won’t let you beat them, especially as you progress through the PvE levels.
PvP Battle in Axie Infinity
With the second battle type, PvP (Person versus Person), comes the human factor, which means you’re playing against real people just like yourself! For those familiar with Pokemon, this is where Axie closely resembles it, as winning versus a real person is not a simple feat, it requires you to:
Pick your Axies carefully
Position them correctly
Play your cards at the right order and time
Calculate yours and your opponent’s energy per round (Energy determines how many cards you can play per round)
As you can see, this is a game where nothing is left to chance. You need a good strategy to face your enemies, but that’s why you’re rewarded with SLP when you beat them! In fact Axie can become pretty complex, which is why the best PvP players compete in tournaments where they can earn big amounts of AXS, which is worth about $50 per coin as of this writing. As for the use cases of AXS: it is accepted as a form of payment in the Axie Marketplace, it’s also required for breeding Axies, it acts as a governance and soon enough, it will be a staking token.
Daily Quests in Axie Infinity
In addition, if you complete the daily quests, you can earn an extra amount of 50 SLP per day. For the specifics of it, a daily quest is comprised of 3 tasks:
Checking into the game
Completing 10 Adventure Mode levels
Winning 5 arena matches
At this point, you might be thinking: “I’ve won some battles, gathered some SLP, what am I supposed to do with it?” The answer to that is fairly simple, you can either:
Sell it for any other coin you’d like on an available exchange, such as Uniswap.
Hold it, as you would with any other asset that you believe will appreciate in value.
Breed Axies with it.
Breeding Axies is a whole other topic that we will discuss in Part 2 next week. We’ll also explore ways to start playing if you can’t afford to purchase Axies!
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☕️ Would You Like Some Free Electricity With Your Coffee?
You may remember Idan Abada’s viral video from last month where he mined Bitcoin using Starbucks’ free electricity. Abada was using a mini Bitcoin mining rig. He says that this personal rig generates about 0.0002474 BTC per month. After the 5% mining pool fee, he mines $9.34 worth of Bitcoin per month (using today’s BTC price). To give this more context, Abada lives in Los Angeles where if he were to leave his rig running 24 hours a day for a month, that would be $15.84 in electricity. (Learn more about Abada’s story 👉 here). Let’s take a look at some of the pros and cons of mining like Abada!
Gain knowledge of technicals of Bitcoin and how it operates.
Allows everyone to get involved (while not necessarily with Bitcoin mining, there are many other coins to be mined that are much more affordable).
Creates a source of Passive Income.
If you are mining Bitcoin, it can be difficult to get started → $$$.
Low hash rate means your miner won’t mine very much → not very much money.
You can end up spending more money on electricity than the money you generate!
Conclusion? Unless you can find a way to mine where you don’t spend more on electricity than the money you generate, chances are it won’t be profitable or sensical. Everyone wants to get involved in crypto. Further, everyone wants to build wealth with minimal effort, or passively. Fortunately, if the cons of mining outweigh the pros in your personal circumstances, you can consider a range of other passive income opportunities using our Passive Income Guide.
🌎🧘♂️✍️ Stories in this newsletter were written by Gerasimos P, Misael Calleja, Max P., Kimia K., Ellen B. and Koroush AK. Graphics were produced by Gerasimos P.
Not financial or tax advice. The content in this newsletter is for informational purposes only. Nothing in this email is intended to serve as financial advice. We are not financial advisors. Every investment and trading move involves risk. Do your own research when making a decision. See our important security disclaimers here.
Disclosure. Some of the links we’ve included are affiliate, they give you rewards and discounts and earn us a commission. Additionally, the Market Meditator writers hold crypto assets. See our investment disclosures here.