Here’s how Axie Infinity players earn nearly $ 500 / month in crypto rewards

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Axie Infinity surpassed nearly $ 1 million daily active users and $ 1 billion in sales. The recent Coinbase listing led to a bullish week for Axie Infinity. AXS has rallied more than 900% in two months. Chain analyzes suggest that AXS has long-term growth potential, and the “play to win” game is currently one of the most profitable crypto applications.

Ark Invest analyst Nick Grous noted that players who lost their jobs during the pandemic win by playing Axie Infinity; 40% of daily active users live in third world countries like the Philippines.

Coinbase Axie Infinity Listing Triggers Bullish Outlook on AXS

Axie Infinity, an online multiplayer video game, has gained popularity in the gaming and crypto community. The game features Pokémon-like creatures called Axies, and their powers can be traded and traded as non-fungible tokens in P2P marketplaces.

There are two Ethereum tokens that players earn, Axie Infinity Shards (AXS) and Smooth Love Potion (SLP). Traders trade these tokens on cryptocurrency exchanges to earn income. Over the past two months, AXS has offered over 2,000% returns to traders.

Upon further analysis by AXS, it is clear that 81% of Axie Infinity trades are in the USD Tether (USDT) market. This involves traders exchanging AXS for stablecoins to protect their profits. However, the increase in the number of daily active users is cushioning the existing selling pressure that comes from taking profits on the exchanges.

Cryptocurrency exchange Coinbase recently noted the increase in demand for AXS by crypto enthusiasts and listed Axie Infinity Shards. The US-based exchange announced the listing on Twitter

The Coinbase listing pushed the AXS price up last week, however, there are other ways to make money with Axie Infinity. Each different strategy in the game opens up a wide range of profit opportunities for the player.

Players who invest several hours a day earn between $ 8 and $ 40, depending on their Axies, powers, and incentives during play. To start playing, traders deposit Ethereum into the Ronin wallet – the side chain of Axie Infinity. linked to Ethereum – and buy Axies. Buying two Axies and breeding them for the third is one of the most popular strategies.

Three Axes are needed to play the game for a reasonable profit. Players develop a passive income stream by purchasing additional creatures and offering scholarships to new players who cannot afford their Axies. The income comes from the sharing of profits between the scholarship provider and the player.

Although players incur costs every step of the way – buying Axies (around $ 800), breeding them, etc. Each time a user sells an Axie on an NFT marketplace, they can earn an average of $ 270.

Traders play 50-80 days to recoup their initial investment of $ 800 and then they can expect to earn between $ 10 and $ 15 per day playing the game.

Alexis Ohanian, founder of venture capital firm Seven Seven Six, commented on Axie Infinity

… Blockchain allows gamers to really own the things they create, to really monetize the time they spend playing these video games.

IntoTheBlock data shows that growth in “total with balance” addresses (containing AXS tokens in their wallet) has outpaced growth in “total zero balance” (which is considered a bearish measure). Thus, more traders hold AXS than those who take profit at the current price level. The feeling of owning the gambling token is a sign of long-term growth potential.

Players hold AXS for almost eight months on average, which is a good indicator of on-chain token growth and investor confidence.

FXStreet analysts have set a target of $ 100 for AXS as it looks poised for volatility.

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