How To Make Money With Axie Infinity? (& step by step guide)

When you play Axie Infinity you can make SLP (Smooth Love Potion) tokens. You then exchange SLP for another cryptocurrency that you can use online, or you exchange it for fiat currency in your bank account. The point is that you can make actual money in various ways on Axie Infinity.

It is possible to make good money on Axie Infinity without playing.

Let’s take an in-depth look at how to make money using the different methods.

Selling SLP 

SLP can be sold for real fiat money. SLP can be sold on cryptocurrency-related websites or exchanges such as:

• Binance
• Crypto.com
• Kucoin
• Gemini
• FTX

There are several options for SLP, and the best method depends on your specific circumstances. Some of your options include:

Sell your SLP on an exchange 

• Set up an account with an exchange like Binance or those I have mentioned above.

• Get your SLP deposit address at Binance. Once you’ve logged in to Binance, go to your SLP wallet and copy the deposit address. You can do this by going to Wallet> Fiat and Spot. Then search for SLP and click on ‘Deposit’ and select Ronin Network to get your deposit address. Copy your address to the clipboard as you’ll need it in the next few steps.

• Navigate to the Axie Infinity Dashboard. Log in to your SLP account and go to the Axie Infinity Dashboard. From here, ‘sync’ your SLP, which will deposit your funds into Ronin’s own Axie Infinity wallet.

• Once the funds have been synced, open the Ronin Wallet and go to ‘Submit’. Paste the Binance SLP address into the field named ‘TO’ and select SLP as ‘ASSET’. Enter the amount of SLP to send. Click ‘Next’, and follow the instructions to complete the transaction. 

• To sell your SLP, visit the Fiat and Spot Wallet. Then scroll down to SLP. Click on a trade or sale to see a list of available trading pairs. If you want to exchange SLP for local currency, you will need to follow the additional steps in the P2P section of this guide.

If you want to avoid fees, the cheapest way is to retrieve your SLP tokens directly from the Ronin Wallet. This is because the Ronin Network does not charge transaction fees, only the fees charged by the exchange when you do business.

Trade on Metamask

Currently, Ronin Wallet only supports transferring assets to MetaMask Wallet. If you try to send them to an Ethereum address, you’ll lose your tokens without first pairing them with Ronin and the meta mask.

1. Set up a Metamask account (explained later in this guide).
2. .Login to your SLP account and navigate to the Axie Infinity Dashboard. From here, you will ‘sync’ your SLP, which will put your funds into Axi Infinity’s native Ronin wallet.

1. Link your SLP to MetaMask by bridging them. Once your funds are synced, go to Ronin Bridge and select ‘Withdraw’ to transfer your SLP to your connected MetaMask wallet.

1. You can now trade your SLP on Ethereum using a decentralized exchange or AMM. Alternatively, you can send the SLP from your Metamask to an exchange that supports SLP. If your preferred exchange does not support SLP, you may want to exchange the SLP for another token, which you can send to your exchange. 

Sell SLP on a P2P Market for Fiat Currency

Binance has a peer-to-peer (P2P) marketplace that allows traders to exchange SLP and other cryptocurrencies for various fiat currencies, including PHP.

This involves finding an individual buyer for your SLP and its quite different from using the spot market.

To use the P2P marketplace on Binance, you can withdraw SLP directly from your Ronin wallet to the Binance exchange, which also means you don’t have to pay Ethereum gas fees.

1. Set up an account with an exchange like Binance.
2. After logging in to Binance, go to your SLP wallet and copy the deposit address. You can do this by going to Wallet> Fiat & Spot. Then search for SLP, click “Deposit” and select the Ronin network to get your deposit address. 
3. Navigate to the Axie Infinity dashboard. Log in to your SLP account and go to the Axie Infinity Dashboard. From here, ‘sync’ your SLP, allowing your funds to be deposited into Ronin’s own Axie Infinity wallet.
4. Once your funds are synced, open Ronin Wallet and press ‘Send’. Paste your Binance SLP address into the ‘TO’ field and select SLP as ‘ACTIVE’. Enter the amount of SLP you want to send. Then click ‘Next’ and follow the prompts to complete the transaction. 
5. After waiting a while for the transaction to complete, return to the Binance Wallet tab and this time go to the ‘Overview’ section from the drop-down menu. Select the ‘Transfer’ button at the top of the page and then fill in the custom fields, making sure to select ‘P2P’ as the ‘Transfer’ option.
6. Now that your SLP is in the appropriate Binance wallet, navigate to Binance P2P and tick the ‘Sell’ option.
7. Enter your chosen fiat currency and select SLP from the options to sell crypto. Finally, select a trading partner at an exchange rate that works for you. Be sure to pay attention to the payment methods – they range from Gcash to wire transfer. 
8. Open a chat with a buyer and negotiate the deal. The money will be paid to you by the payment method chosen.

Selling Axies 

To buy/sell Axies on Gameflip, we suggest using Metamask as your main ETH wallet, with which you can easily transact with these NFTs. You can create Axie listings for free since no gas fee or other fees will be charged. I suggest following the following steps to sell your Axies:

1. Create a Gameflip account.
2. Click on your profile at the top of the screen, and navigate to menu> listings> start selling.
3. Select an Axie and enter the token ID you want to sell in order to retrieve its information.
4. Fill in the Axie details and delivery preferences and click on ‘done’.
5. Next, confirm the Axie was sold on Gameflip by checking the notifications when you click on your avatar. 
6. Click on “my account” in the Axie marketplace. 
7. Click on menu on the left side of the page to see the Axies available. 
8. Click the Axie you want to sell that will be sent to the buyer, then click the Gift button next to the Variety & Sale button.
9. When the pop-up appears, enter the buyer’s Ronin wallet address, select the check box to notify you about the Axie level reset, and click the Gift button.
10. The Metamask wallet will appear, confirm the gas charge, and confirm the transaction. Metamask notifies you when the transaction is successful.
11. After a few minutes, click “My Account” again in the upper right corner of the page, and in the left menu, click ‘Activity’. There you will be able to see your latest activities, including the gifts you sent to the customer.
12. Go to the Gameflip Sold Items page, go to the Sold Cards page and mark the item as shipped. Then access the exchange message and share the screenshot taken in step 2 with the buyer for record purposes.

Upon completion of the transaction, the proceeds from the sale will be credited to your wallet. Once it’s available, you can use it in Gameflip or withdraw the amount using the available withdrawal methods.

Axie Scholarship program

The Axie Infinity Scholarship is a great opportunity to increase your passive income by helping others earn a living. Make sure that you have an Axie Infinity account (explained later in the post). Next, you will follow these steps:

1. Log in to the owner or manager account and select the Axie to loan to the scientist. 
2. Click “Gift”. 
3. In the next pop-up window, enter the Ronin address from the scholar’s account and click ‘Gift’ again.

You will receive a notification confirming the transfer to your Ronin account. Axie’s level will be reset to zero, and it needs to be reconfigured with the rest after moving all three.

Investing in Lunacia land plots

Lunacia is divided into symbolic plots. Once you own the land, you can get AXS tokens and other resources by engaging in boss battles and PvE battles. Just like in the real world, you can invest in land, wait for it to increase in value, and then sell it for a significant profit.

AXS Staking

How to do AXS Staking. Let’s get down to how you can make money this way:

1. Make sure you have an AXS token. If not, you can buy it on crypto exchanges like Binance.
2. Install the Ronin wallet extension for Google Chrome and Mozilla Firefox. Select a password and save your seed.
3. Register on the Axie marketplace.
4. Transfer your AXS tokens to your Ronin wallet. 
5. Go to the AXS Staking Dashboard, use the ‘Stakes’ button, then select the desired AXS amount – press ‘Stake’ again and approve the transaction through your Ronin Wallet that appears.
6. Your AXS is now at stake. You can use the Staking Dashboard to see your rewards live, as well as the current APY that changes over time.

If you wish, you can claim or collect your rewards. 

How much money can you make playing AXIE?

The amount of money you can make playing Axie Infinity is unlimited. How fast you can make it, though, is limited. 

There are two ways in which you can make money playing Axie Infinity. The first one is by battling monsters in adventure mode, and the second is by fighting other players in arena mode. 

You can earn up to 50 SLP per day by battling things out in adventure mode. This is also where you level your Axie up.

In Arena mode, the amount of SLP you earn depends on your matchmaking ranking or MMR. The higher your MMR, the more SLP you can earn if you win your battles. The plan is to level up in adventure mode and then fight in arena mode.

What Kind of Cryptocurrency can you Earn?

In Axie Infinity, you can earn SLP and AXS. 

SLP is used for the sole purpose of breeding new Axies. You breed Axies so that you can battle other players and Axies to earn SLP. The more SLP you have, the more and better Axies you can breed. The supply of SLP is unlimited.

SLP can also be exchanged for any cryptocurrency or fiat currency.

AXS (Axie Infinity Shards) is the second type of cryptocurrency you can earn in Axie Infinity. Players can earn AXS through participating in user-generated content projects and playing different games inside the Axie Infinity Universe. The supply of AXS is limited to 270 million AXS.

AXS can also be traded for other cryptocurrencies and fiat currency and is meant for governance, almost like owning shares. People with AXS will be able to vote, and they can help stake AXS (more about that later). 

Is it too late to invest in Axie Infinity?

No, it’s not too late, for the simple reason that nobody can predict the future.

The fact that AXS saw such a tremendous value increase in November 2021 to peak at $160 on November 7 and then dropped to $47 by January 27, 2022, means that the time is ripe for the value of AXS to climb again. By February 6, the value had already climbed a bit to $68 USD. What will happen next though, is anybody’s guess.

It’s better to think long-term than to panic and sell stock at a low during a downturn, but you need to have a strategy for different outcomes. – Investopedia

One strategy which is almost a mainstay of investing is to do it in the long term. In the long term, you are not going to go wrong unless you invest in something that has a short lifespan. Games like Axie Infinity are not going anywhere soon because too many people like to play it.

Diversifying is another good strategy. The main focus is not to put all your eggs in one basket. 

Is Axie Infinity Profitable?

Axie Infinity has a steady influx of funds due to the fact that to play the game, you need at least three Axies. To obtain your first Axies you need to pay about $200 on average for entry-level Axies.

With almost 9 million players who each have to pay about $600 ($200 times 3 Axies) only through that income, there is no shortage of funds. According to reports, Axie Infinity is the very first NFT initiative to reach a total trading volume of $1 billion.

The developers of Axie Infinity have more than enough funds with which to pay you. But you also make money by receiving payments from other players for breeding rights or selling stuff.

You earn SLP and AXS through your interactions with the game. The developers want people to play the game and, therefore, if you want to make a profit, you should spend a lot of time in the game world.  

How Is Axie Infinity Defined?

Axies are used to combat other Axies and are bred to produce children that may be sold on the Axie NFT marketplace. SLP and  AXS, which were introduced in 2018, are native tokens that are used to spend on breeding and gained via playing.

The Risks Associated with Investing in Axie Infinity

Axie Infinity is not risk-free, but nothing worthwhile is. Let’s take a look at the risks you must stay aware of.

Inflation

Axie Infinity players gain money in various ways, one of which is through leasing their Axies to other players. As a scholar,’ they often want a 60 percent to 70% cut from revenues.

This does, however, show that the underlying goal is monetary gain. The tokens aren’t utilized constructively inside the game since most scholars pay out their earnings as a daily income. That is, most scholars do not use their profits for breeding more pets.

Axie Infinity is facing a challenge comparable to how inflation may seep into a stable economy when currency is hoarded, and there isn’t enough economic activity.

Furthermore, as the number of Axies grows over time and more players join in, the need to produce new Axies decreases, contributing to inflationary issues.

Supply and Demand

The law of supply and demand defines the economic connection between the sellers and purchasers of different commodities.

According to supply and demand theory, a product’s price is determined by its availability and demand from purchasers. The sellers will offer more commodities to the market if the price is high.

Keeping the price high, on the other hand, may have a negative impact on how purchasers perceive the product. Customers may begin purchasing a cheaper choice if they do not believe the product or service is worth its high price.

A higher price might reduce demand, resulting in a decrease in supply.

The player base of Axie Infinity has increased drastically over the last year or so. We are talking about millions of new players. The sudden increase means that there are more Axies, which means that the value of SLP’s has gone down since there is more to go around.

Forgotten or Lost Password

Recovering an Axie Infinity password is easy enough. The problem comes when you lose your Metamask password. 

You need Metamask to store and act as a gateway for your cryptocurrency and Axie NFTs. When you sign up for MetaMask, you are given a series of random words to use to recover your access to the wallet. 

If you lose the verification words to Metamask, there is absolutely no way to access your cryptocurrency and NFT’s. They are lost forever. 

Make sure you know where you store your verification words and make sure you have more than one copy. Try not to store them digitally, since then they are subject to possible hacking. Hacking can leave you with a new set of problems. 

Axie Infinity: Step By Step Guide.

Use the following steps to make money on Axie Infinity:

Step 1: Get Metamask

Simply type in Metamask in a Google Search and press enter. Click on the first link, and you will be taken to a page where you can click on “download now.”

You will be given the option to choose a download for Chrome, IOS, or Android. Choose Chrome and download. 

Next, click on “install Metamask for Chrome.” Then you will click on “add to Chrome.” Once it is installed in Chrome, go to the right top of the page and click on the little puzzle piece.

Find Metamask from the list and click on the pin icon. The icon will turn blue, which means Metamask has successfully been pinned to the area to the right of the URL box at the top of the page. 

You will be taken to a “get started” page. Click on the button, and you will end up on a page that presents you with two options, “import wallet” or “create wallet.” Choose the “create wallet” option unless you already have a Metamask wallet. 

Read the next page and click on ‘I agree.’ You will be presented with a password creation page where you follow the instructions to create your desired password. 

Once you click on ‘next,’ you will be taken to a page where you click on the greyed-out area to reveal your secret recovery phrase. Save it as instructed. Next, you will be asked to click on the words of your secret recovery phrase in the order in which you received them. 

Click on ‘confirm,’ and you are all done setting up Metamask.

Step 2: Deposit Ethereum to get started

You will need to add some Ethereum to your Metamask wallet to get started. 

Click on the Metamask icon at the top right of your browser. Click on ‘buy,’ and you will be given a choice to purchase Ethereum via a credit card or to transfer it from another wallet. Make your choice and follow the steps.

The amount of Ethereum you deposit has to be equal to or more than the price of buying three Axies and add more for the gas fee (GWEI).

Step 3: Create a Cryptocurrency Trading Account

You want to be able to exchange your SLP and AXS, so for that, you need a cryptocurrency trading account. You will also need a wallet where your actual NFT keys will be stored (more about that later). There are many options out there, but I would recommend the following:

Simply visit the trading account you prefer and follow their instructions after clicking on the ‘register’ or similar button.

You will need to install a wallet before you can finish the registration for Axie Infinity. 

Step 4: Download and Install Axie Infinity

Type axieinfinity.com into your browser URL window and press enter. You will be taken to a page that gives you a brief explanation of how the game works. Click on the “play now” button.

You are taken to the Sky Mavis website where your next step is to click on “get started”. You will then be given the option to create a Ronin wallet. Click on your browser of choice on the page and you will be taken to the next page. In the case of Google Chrome, you are taken to the Chrome Webstore, where you can download the Chrome extension and follow the same steps as for the Metamask installation.

Click on the icon of Ronin wallet, and you will be presented with a “get started” button. From there, you will be taken to a page where you click on “I’m new. Let’s get set up!” 

Go through the steps to set your password recovery phrase, and confirm.The steps are the same as with your Metamask setup. 

Now you can log in to Axie Infinity with your Ronin wallet. 

Go to marketplace.axieinfinity.com/login/ and click on “login with Ronin Wallet.” You will be asked to confirm your wallet and then you will be asked to choose your username for your time in Lunacia. Choose your desired username and click on ‘save’. You will be taken to the marketplace screen, but there will be no WETH (wrapped Ethereum) for you to use to purchase Axies with. 

Step 5: Transfer Ethereum from Metamask to Ronin

Look for your Ronin address on the marketplace screen and copy it. Next select “deposit to Ronin’ just above the address. You will receive a notification that you have to connect to Metamask. Click on ‘next’ and then on ‘connect’.

On the next screen paste your Ronin address into the space provided. Choose your asset as ETH from the dropdown list and then type in how much ETH you need.

Click on ‘next’ and then ‘confirm’. You will receive a popup from Metamask where you have to confirm again. 

You will have three options for gas fees; slow, average, and fast. Choose ‘slow’ and confirm after saving. You can now click on “view Ethereum” or ‘close’. It will take time for the ETH to show up in your Ronin wallet. 

Step 6: Purchase Three Axies

Make sure your ETH is showing up as WETH in your Axies Infinity marketplace. On the top left, click on ‘marketplace’. Before you purchase Axies, do your own research to ensure you purchase the right ones.

When buying Axies decide beforehand if you want to:

• Breed
• Farm
• Play

What you intend to do will have a direct bearing on what types of Axies you want to buy. Set the filters in the marketplace to bring up the most relevant Axies to buy. I recommend that you buy three widely different Axies the first time to ensure that you have options.

Once you have made your choice, click on the Axie and follow the easy instructions to purchase.

If you want to make the most money, it is probably a good idea to become a breeder and to resell quality Axies. 

Step 7: Breed Axies

Axies may reproduce and transfer their genes down to future generations. The Axie community will continue to evolve in this fashion, much like creatures in nature. Axies may be bred through two different methods:

• Breed with other Axies you own
• Breed with the Axies of another player

It’s important to know that mystic bodily parts can’t be handed down through generations.

Once you have selected an Axie and clicked on it a window will pop up asking what you choose. If you want your Axie to breed with the Axie of another player, choose the “mating club” option. 

Players may pay to reproduce another player’s Axie at the Mating Club. When you mate with an Axie inside the club, you will get one Axie egg and thus the siring fee will be paid to the owner of the Axie in question. Siring costs vary, as do selling prices, and are established by each Axie’s owner.

Note that parents and children cannot breed with each other.

Once you have selected the breeding pair and you click on “start breeding”, a Metamask transaction window will popup. Using ethgassation.info, verify that the current GWEI is correct. The “safe low” GWEI is the lowest that miners will accept in order to complete the transaction.

If the Axie you’re breeding is a “virgin,” breeding costs 300 EXP. With each consecutive breed, the Exp cost to breed will rise, so pick your breeds carefully. The new Axie Infinity breeding costs as of December 2021 are:

Breed Count	SLP Cost	AXS Cost
1	1800	0.5
2	2700	0.5
3	4500	0.5
4	7200	0.5
5	11700	0.5
6	18900	0.5
7	30600	0.5

Axie genetics

Each Axie is born with a set of genetic mutations. This implies that each of an Axie’s “body parts” is the product of its DNA being recorded on the blockchain. Axies also carry recessive genes, which are hidden genes.

Each Axie has a unique physical form made up of six bodily components and six genes. The dominant gene, as opposed to the recessive or mild recessive gene, has a higher likelihood of being handed on to its children.

You may use a breeding calculator to discover what your pairing’s most probable offspring would be.

All Axies can only breed up to seven times.

Some genetics are really unique. Certain  “Origin” Axies, for example, have Mystic Body Parts that may be upgraded to unique Legendary Body Parts later.

Step 8: Download and Play

On the Axie Infinity website, axieinfinity.com, click on the “play now” button. Choose your platform, and it will begin downloading to your platform. After downloading, simply run the setup file and it will install. 

You will have to log into Mavis Hub to continue. Simply create a new account by clicking on the relevant link below the login space. You will be directed to your dashboard where it says “setup email and password. Click on it and follow the instructions.

Go back to the Mavis Hub, and you should be able to log in. 

You still have to install the game. Click on the large ‘install’ button. For IOS, the file size is 305 Mb. It will be installed, and you will get the “installation completed” notification.

Click on “play now”.

Conclusion

With Axie Infinity, you have a whole economy at your disposal. By being smart, you can start playing, breeding, stacking AXS, reselling Lunasia plots, selling SLP, or farming to make extra money. I recommend you do your own research since the possibilities of making money on Axie Infinity are endless. Enjoy making money in the world of Axie Infinity.

Sources

https://gamewith.net/axie-infinity/article/show/30011

https://axieinfinity.com/axs/

Investopedia. https://www.investopedia.com/articles/investing/030716/one-thing-never-do-when-stock-market-goes-down.asp

Business Insider. https://www.businessinsider.in/investment/news/axie-infinity-has-an-inflation-problem-and-without-more-players-its-going-to-be-a-tough-fix/articleshow/87840750.cms