The marketplace Axie infinity is the NFT marketplace from where you can find the most famous cryptographic video games. On the Axie infinity marketplace, players buy and sell NFTs to get Axie infinity creatures, items, and land. You can start playing the Axie Infinity game with only three Axies on the Axie marketplace. It makes the process simpler for their users. Let’s find out how the Axie Infinity Marketplace functions and whether it is worth trying the platform. Keep reading our article to explore everything in detail.
What are Axies?
In the Axie Infinity game, Axies are digital creatures that players can raise, battle, and trade. When you participate in the game, you can breed and train Axies and later battle with other Axie Infinity players to earn experience points and level up.
Axies are actually NFTs, so your Axie is only yours. It can’t belong to anyone else. You have to buy three Axies from the marketplace to combat other players.
After participating and winning combat, you earn coins (Axie Infinity Shards or Small Love potion) that you can use to breed your Axies. Breeding rare Axies in the game and the marketplace is countable.
How to buy Axie in marketplace?
Axie Infinity players can use the following steps to buy Axie in the marketplace.
1. Download a digital wallet
You must have a digital wallet to play Axie Infinity because the game works with cryptocurrency. Axie Infinity and its expert players recommend Metamask wallet, but you can also use other crypto wallets like Ledger or Trezor, Trust wallet, Atomic wallet, MyEther wallet, etc.
First, configure your wallet, fill it with Ethereum and purchase Axies to participate in the game. Ethereum is the only cryptocurrency that you need to play Axie Infinity.
2. Set up your Ronin wallet
Ronin is an Ethereum-linked sidechain made only for Axie Infinity. Sky Mavis created this sidechain for all Axie transactions. Ronin wallet is available for Android and iOS. Windows and macOS users can use its extension for Chrome and Firefox. It stores all your Axies and WETH.
3. Convert ETH to WETH
It’s required to convert your ETH to WETH to play the game. WETH stands for Wrapped Ethereum. It’s the tokenized Ethereum equivalent of the original Ethereum coin.
Buy and store ETH in a digital wallet before you convert it to WETH. Ronin Bridge converts ETH to WETH, which is required to purchase Axies.
4. Purchase your Axies
You can only purchase Axies after creating an account. So, visit an Axie marketplace and use your Ronin wallet to log in. Next, browse and purchase available Axies on the marketplace.
How much does it cost to play Axie Infinity?
The current live Axie Infinity price is around $8.26, with a 24-hour trading volume of $104,664,086. Its live market cap is $830,889,854. (Date: 18 Jan 2023) As you can see, its market capitalization is very high, so the market is taking it very seriously.
AXS’s price varies daily. Sometimes, you see a rise, and sometimes, a fall. To estimate the market capitalization, you can multiply the number of coins by the current price. AXS has a circulating supply of 100.47 M AXS and a max supply of 270 M AXS.
The Axie Infinity is ranking #54 on CoinMarketCap.com. So, you can easily estimate the potential of this valuable cryptocurrency.
Is Axie profitable?
According to Statista, the sales volume of Axie Infinity and the AXS token price are falling after November 2021. But, it is not alone in the market. Other cryptocurrencies are also not been doing well in the last few months. You should invest wisely in cryptocurrency. Spend your hard-earned money after proper analysis.
Is Axie worth investing in now?
Market prediction is very tough. Most people suggest waiting until the market does well. To avoid risk, you have to wait for the comeback of metaverse, NFTs, or play-to-earn. Deep research before buying Axie Infinity is required. Experts suggest investing in cryptocurrencies when they are not doing well to earn higher profit margins. Bear markets affect high market-cap cryptocurrencies, so you may experience losses as an investor. Remember, never take risks more than your capacity. Therefore, be careful when investing money in cryptocurrencies.
Is it safe to buy Axie now in 2023?
The Axie Infinity marketplace is always on target of hackers and other cybercriminals. Don’t worry. Your NFTs are secure in your Ronin wallet until someone else does not get access to it or knows your seed phrase. Nobody wants to lose their crypto wallets, so you need to be more careful when clicking on anonymous links on your device. Always be extra cautious when storing your seed phrase in a safe place.
In most cases, when a digital wallet gets hacked, owners lose all their cryptocurrencies and NFTs. Then, it’s almost impossible to get back these digital assets.
In November 2021, a hacker shared a false press release consisting of a link to the Ethereum theft website on Axie Infinity’s discord channel. As a result, many Axie Infinity players lost their money. Instantly, Axie Infinity increased their Discord channel’s security and compensated everybody who had lost their digital assets after announcing the security breach.
Summing up
The Axie Infinity marketplace connects online gaming to the crypto world. It’s started changing the online gaming future, and everybody started understanding the importance of digital ownership. Nowadays, it is very important. Axie Infinity introduces people to the blockchain-based gaming experience.
Such ongoing projects have a noteworthy impact on current trends, but we can’t ignore the difficulties and uncertainties related to blockchain. You can’t predict whether the Axie Infinity marketplace will focus on land-based gameplay on Lunacia or whether players will keep breeding their digital pets, Axies.