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AXIE INFINITY UPDATE
As a rule of thumb for any cryptocurrency or NFT, invest as much as you are ready to lose.Axie Infinity, perhaps the most well-known blockchain-based game in the world, has unveiled a major update that directly impacts players' ability to earn in-game currency. But quitting your job because you’re enticed by the immense prices of Axies is risky.
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For now, NFTs are a great way to earn extra cash. Will the NFT value go down after the hype ends? Likely yes, but we don’t know when this will happen or whether it will surge again. The technology is relatively new, and we aren’t yet certain about its future. There’s no certain answer to whether investing in NFTs is worth it. Some players who take Axie Infinity seriously reportedly have quit their jobs to dedicate all their time to the game.
AXIE INFINITY HOW TO
Players must have a smart Axie breeding strategy to develop the necessary skills, know how to fight, and complete challenges.
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Like any game, earning cash in Axie Infinity takes time and effort. But in general, it isn’t “easy money” as players blinded by opportunity might imagine. Is Axie Infinity an Easy Way to Earn Cash? So, if your goal is to earn some cash, consider researching all options to find the most beneficial one. As the technology is developing rapidly and its popularity is surging, we can expect to see even more titles appear in the nearest future. While the niche is still fresh, there are other blockchain-based games available to play. Is Axie Infinity the Only Play-to-Earn Game on the Market? So, the more players join the game, the more the developers will earn. Additionally, both the developers and owners of AXS, the governance token, get a cut from monster-breeding fees. The company earns 4.25% of each NFT sold in the game’s marketplace. This also applies to in-game items.Īxie Infinity was developed by SkyMavis. Today, NFTs can be any type of digital file, with the only requirement being its uniqueness. NFTs started as digital art objects – such as music or digital paintings – and later became more diverse. Blockchain technology ensures that every NFT can be tracked as a unique, original object. This creates a scarcity effect, raising the NFT’s value. Every NFT is certificated to be a unique digital asset that can’t be copied. In fact, it’s similar to cryptocurrency in that it’s also based on blockchain technology. NFT, or non-fungible token, in turn, is a unique digital asset that can be purchased with cryptocurrency (but not exclusively). So, even though the amount of Ether you own didn’t change, its equivalent value in real-life money did. If more people want to buy Ether, its price will likely go up, for instance, to $3,000. Let’s assume you have one Ether, and its price is currently equivalent to $2,960.
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This, consequently, affects its equivalent value in real-life money. Each cryptocurrency transaction performed by other users affects the currency price. You may have already guessed that blockchain is the technology that enables the existence of cryptocurrencies, such as Bitcoin or Ethereum.