The trend of Axie Infinity brings a lot of people into crypto wherein they became exposed to cryptocurrency and started exploring how the blockchain works and invest in it. It was one of the hypes before–probably until now–to earn and use it as part of their entertainment. People continued to invest in the game and treat it like a business where they started offering scholarships to provide help to other players who cannot afford its huge investment. As a return, they will divide the earnings from the manager and scholar depending on their agreement.
One of the reasons that I see that made it hype in the past few months is its promising rewards where the players can earn $SLP, their in-game currency, which had an all-time high of $0.399727 per SLP. It was really amazing to earn such an amount of money because you can earn 3 SLP or more per play depending on your rank.
However, the price of SLP started decreasing when more people joined the game and started to sell their SLP rewards.
The reason for the price decrease is probably the number of minted SLP compared to the burned one. It is one of the main problems in the game since most of the players rely on its price. Another one is that more and more people are selling because they are afraid that it will fall more in the future.
Photo was screenshot by the author from Axie World.
But no worries, all coins are falling, not only SLP. Even Bitcoin starts to fall because of the bears that keep pushing the market downward.
Hence, the best way to spend your time during the bear market is to earn more while we are on the dip so we can get a profit once it starts to increase. If you are playing Axie Infinity, you can actually earn more than your usual play with 20-40 energies. Here's how!
Start Streaming
Believe me or not but playing Axie Infinity is one of the ways streamers do what they love, streaming. Since the game started and became hype, people started to like it to the point that they started their streaming journey while playing the game.
I have seen a lot of people on Facebook who stream Axie Infinity and earn on their streams when someone donated to them such as Stars from Facebook which has an equivalent price in cash. They are also giving scholarships as part of giving back to the community and their way to gain more audiences on their stream…but did you know that you will also earn from giving scholarships?
Offering Axie Scholarship
People who are unfortunate that cannot afford the investment to buy a team in Axie Infinity are having an opportunity to apply for a scholarship in Axie Infinity. As a matter of fact, applying for a scholarship in this game is like applying for a job where applicants are sharing their information to the managers as a way of introducing themselves. Sometimes, they are also making a default image where the information needed is included and serves as their application.
As a manager and investor, you will earn passive income in the game by giving scholarships where the SLP rewards are divided between the scholars and managers depending on their proportion agreement. Most of the managers offer 50-50 proportions so it will be fair to both of them.
Furthermore, managers have the right to have a part in the rewards because they are the one who invested in the game and its investment is literally not a joke.
Convert you $SLP to $AXS
This sounds confusing but you can convert your SLP to AXS and earn through staking. You can stake your AXS and earn a 75% APR by holding the coin. AXS is the governance token of the game where the holders have the rights to vote for the direction of the game not on the game developers.
Compared to SLP, AXS has a total of 270 million supply which is also a good indicator that its price will increase soon…this is not financial advice. In my case, I started converting all of my earnings in Axie Infinity from SLP to AXS and stake it. You can also provide an LP to farm with AXS but in my opinion, it is riskier than a single pool because you are prone to impermanent loss.
Trade your $SLP
Let's get back to basics, if you want to gain a profit and more SLP, you can just simply trade your current SLP on different exchanges like Binance. Traders have a simple principle: Buy low, sell high. It is the basic way to get a profit from your SLP.
But this one is also risky because you can buy or sell anytime and once you sold or bought, it is possible to spike upward or downward. Hence, the basic terminologies related to trading must be read and learned so you will not regret your actions.
Upload your gameplay in Hive
Among these tips, this one is my favorite. Personally, I am doing this one and I would say that it is also profitable because you will earn even if you don't have any followers. The only thing that you need to remember is to follow the rules in the HIVE community to avoid any problem with your account.
So far, I already got more or less $50 by uploading to this community. But once you upload something, you should not expect it because there are times that the curators will not upvote your video.
Conclusion
In my opinion, this game is for a long term investment. As you will notice, despite having FUDs and other game competitors, most of the people still continue to play the game to the point that they are doing content for their YouTube and streams.
Also, the developers still have good plans that will be released soon. Who knows? Maybe they will have a burning mechanism in the future and if it happens, it is possible that the price of SLP will increase…let's manifest it.
Finally, I want to remind you that this article is not financial advice. Always do your own research and invest at your own risk.