A Complete Guide on How To Secure Your Tokens Outside NFT Launchpads

NFT Gaming, NFT Launchpad Projects

A Complete Guide on How To Secure Your Tokens Outside NFT Launchpads

When it comes to NFTs, not only can they cost a pretty penny, but they hold a lot of sentimental value. You may consider storing your NFTs in the most secure location possible.

The safest place to store your NFTs is cold storage on NFT launchpads hardware wallets like Ledger. Hardware wallets are protected by a seed phrase, a password, and touch authentication and remain offline, meaning hackers can’t gain access. At the same time, an online software wallet like Metamask can easily be compromised.

Below you will discover the best way to store your NFTs to ensure safety and security.

Related: A Comprehensive Guide to Understand the Development of Metaverse NFT Launchpads

What is the safest way to store your NFT?

The most secure and preferred way to store your NFTs is in your NFT launchpad wallet or a cold-storage hardware wallet like Ledger or Trezor. That is because hardware wallets and their crucial information like seed phrase, password, and touch authentication are stored, making it difficult for hackers and keyloggers to gain access.

One of the most common methods for storing tokens on NFT launchpads is using a software wallet like Metamask or Coinbase NFT. However, these wallets can be easily compromised if you aren’t careful with your account. Several reports have recently reported that NFT launchpads are getting more visitation from hackers and scammers. The software wallets work fine for storing NFTs and crypto, but the weak point comes from the fact that the information to access these wallets is stored in the software, which is stored online.

That means if a hacker somehow got access to your computer or phone, they could easily access your wallet on your NFT launchpad by watching every move of your transaction. That has happened many times through numerous types of scams.

The safest option is to store your NFTs and crypto offline using a hardware wallet. With a hardware wallet, it’s essential to understand that your NFTs aren’t stored offline; only the information required to access your wallet is. All NFTs are stored on the blockchain, which is as secure as it gets.

Common NFT storage options

There are various options for storing your tokens. However, some options are more secure than others. Typically, your tokens are safe on NFT launchpads as you trade with them. As more alternatives, here are the most common options for keeping your NFTs:

 Software wallets (Metamask)

A software wallet such as Metamask is considered standard security for NFTs. Everything you do is encrypted on the browser you use to operate your NFT launchpad and secured by your password and 12-24 word seed phrase. However, this form of storage is easy to hack, especially considering the types of scams that are common today.

All it takes to hack your software wallet is a hacker gaining access to the device you use to log in to your software wallets, such as your phone or computer. One of the most common scams is the wallet holder giving access to hackers by signing a transaction hash, allowing the complete hacker access to their wallet. This scam happens daily through Discord DMs, social media, and sometimes on NFT launchpads.

Also, always disconnect your wallet from every site – including NFT launchpads  – before logging out of your wallet. That ensures your wallet stays safe if one of the sites you visited becomes compromised.

InterPlanetary File System (IPFS)

An IPFS like Pinata stores your NFTs off-chain, decreasing the likelihood of being hacked. Also, an IPFS is safer thanks to its content identifiers (CIDs)—which are hashes of data connected directly to your NFT’s content, as opposed to an HTTP link which has the vulnerability of being modified and hacked.


These hashes of data are stored on your computer. So, when you request data from an IPFS, the system looks to its nodes for that same hash of data and then verifies that data is correct by rehashing on the receiver’s computer. If a hacker node ever produces a CID hash, you will be notified on your end of the false data.

The added benefits of an IPFS make for a more secure storage option for your NFTs. However, you still have the potential of being hacked through your computer if you don’t log out from the NFT launchpad where you were trading.

Cold Storage Hardware Wallet (Ledger)

Storing your NFTs in a cold-storage hardware wallet is the most secure option. Hardware wallets provide the most security because your wallet data is kept entirely offline and protected by a device password. These wallets can generally restore device content if it’s lost or stolen.

You can also use hardware wallets as hot wallets—which means you can connect your hardware wallet to the internet via the device’s mobile connectivity. These hot wallets are still secure when connected to the internet, allowing you to transact without the fear of being hacked or obtaining a virus.

Can you lose your NFT?

You can lose your NFT’s content and metadata if you are careless with your NFT launchpad’s account details or don’t store your NFT properly. That can happen if your token’s content is stored on an HTTP URL, and that link gets modified somehow. The contract of your NFT will remain on the blockchain ledger. However, all its content may be gone forever.

Losing your NFT may be unlikely, but it can happen. Moreover, if your NFT content is stored on a specific HTTP URL site and that site happens to disappear, you risk losing all your crypto-asset content along with it.

Tips for keeping your NFTs safe

Regardless of where you decide to store your NFTs, there are a few tips you might find helpful for keeping your NFTs as safe as possible during storage, including:

  • Never give out your 12-24 word seed phrase.
  • Create complex passwords that include phrases, numbers, and symbols.
  • Don’t allow anyone accesses to your login credentials.
  • Store all your passwords and phrases in physical form, locked away safely (not on your computer).
  • Avoid visiting sites that may have malicious intentions (watch for no SSL).
  • Don’t click on any random links sent to you via DM or untrustworthy sources.
  • Always log out of your wallet, and log out of sites to which you may have your wallet connected.
  • Store your long-term digital assets offline wholly.
  • Consider using a virtual private network (VPN) that hides your IP address and encrypts your internet traffic.

In conclusion 

Although NFTs are stored on the blockchain, that doesn’t mean your digital assets can’t be stolen.

NFTs have been stolen many times before. NFTs are just as susceptible to hackers as our emails and social media accounts, according to a former CIA Professional Hacker. 

A hack can strike any moment, so it’s best to be over-prepared. Storing your NFTs in a cold storage wallet and being aware of the most common NFT launchpad cams is your best bet to avoid being hacked.

NFT Launchpad Projects

A Comprehensive Beginners’ Guide On How To Invest In Tokens On NFT Launchpads

There’s no way you can talk about the upsurge in the cryptocurrency world without mentioning the new drive – Non Fungible Tokens (NFTs). In recent years, NFTs have brought more profit-making opportunities to the digital currency space giving young folks a golden opportunity to flex their creative muscles and make a considerable amount of money as a reward. Thanks to the advent of NFT launchpads, NFT creators now have several dependable platforms that make it easier to raise liquidity to develop, launch and market NFT projects, as simple as it sounds. 

Without a doubt, NFT launchpads have proven to be an intelligent addition to the crypto launchpad community. It allows holders to convert physical and digital assets creating a new vibrant ecosystem where interested participants can come together to trade in-game items, art, music, and more for huge profits. Click here for comprehensive guide to understand the development of metaverse NFT launchpads.

NFT launchpads remain one of the most credible platforms that provide easy ways to make a massive fortune on digital platforms. Little wonder, most young folks in developing countries are putting their funds on NFT platforms solely intending to have financial freedom. 

A Comprehensive Beginners' Guide On How To Invest In Tokens On NFT Launchpads

Would you also love to join the trend and start generating colossal income? That’s what you are about to learn in this article. You will discover the best way to invest your money in non-fungible tokens (NFTs) in practical steps as you read. 

But before we dive into details, it is vital that we first understand what it means to invest in NFTs from an expert point of view. That way, you will know how to maximize the opportunities on NFT launchpads to your advantage and void the common pitfalls.

How does NFT Investing Work?

To invest in NFTs, you should go for the best available. Hence, you-ness a vast understanding of at NFTs stand for and how the investment can work for you. 

As you might have noticed earlier in this article, NFTs (Non-fungible tokens) are digital assets that guarantee ownership of a specific physical or digital asset. The asset could be anything from arts, music items, in-game properties, pictures, designs, and more. Most NFT trading links with digital music, art, images, and blockchain gaming items.

NFTs host on the blockchain, a decentralized network that holds the operations of several cryptocurrencies. Blockchain technology was not so much popular until Bitcoin came into the finance limelight. Although there has been so much improvement on the platform, many other impressive networks have come out to fortify and elevate the foundation Bitcoin laid years ago. 

Ethereum is among the newer networks that have risen to become the leading force in the NFT space. Binance Smart chain, Solana, and Cardona are also top players in blockchain technology.

The NFT Marketplace

If you are ready to invest in NFTs, you can’t do without NFT launchpads. Launchpads are also known as a marketplace where investors come in contact with creators to discuss business. A credible NFT launchpad provides an easy-to-use digital space for investors like you to browse NFTs created for purchase. 

In most cases, NFTs are listed for a price, or you can purchase them through an auction in which you compete with other interested buyers to bid until the highest bidder wins the NFT. In this instance, you may pay more than you initially budgeted; that’s why most buyers prefer going for NFTs listed for fixed prices.

Lastly, on this part, You will need a crypto wallet to keep the crypto required to facilitate the NFT purchase transactions and even the NFTs themselves. A quick reminder, NFTs work in the cryptocurrency ecosystem. Hence, obtaining a crypto wallet is essential. 

How to Invest in NFTs Launchpads

After you have understood what NFTs mean and how their lNFT launchpads works, the next thing is to learn how to invest. Why? Every successful investment has a method that has been proven effective over several years. Frequently, people ask if NFT investment is profitable. Well, I will confidently say a big YES! But, how much you understand the process determines your NFT investment’s success. 

A Comprehensive Beginners' Guide On How To Invest In Tokens On NFT Launchpads

Without further ado, let’s learn the how in practical steps.

Step 1: Create a MetaMask Wallet

You can purchase Lucky block NFTs through NFT launchpads, one of the most dependable platforms where you can trade digital assets. Meanwhile, NFT launchpads can only link you to a MetaMask wallet, and you get a guide to set it up in the straightforward instructions provided on the page. 

On the MetraMask official website, you will find the options to download the app and add it to your internet browser. 

Step 2: Add BNB Chain to your MetaMask account

MetaMask is linked only to the Ethereum blockchain. So, by default, it automatically takes you to the Binance Smart Chain. Getting to the page, locate the ‘Add Network’ button on the wallet’s setting menu and click on it. After that, the page will display empty dialogue boxes which require the following information:

Make sure you enter the above information precisely as written. Then, click on ‘save’ to connect your MetaMask wallet to the Binance Smart Chain.

Step 3: Obtain Wrapped BNB (BnB)

Lucky Block NFTs denominates in wBNB (wrapped BNB), a replica of BNB, but conform to the standards of the BNB Chain. You can obtain wBNB via PancakeSwap on Defi exchanges. You can transfer your tokens into the MetaMask created when you purchase your wBNB. 

Step 4: Link the wallet to the NFT launchpad

The next step is to visit a credible NFT launchpad to connect your wallet. When you log in to the site, find the ‘Connect Wallet’ button and click on it. Then, follow the simple steps to link your wallet to the platform. 

Step 5: Purchase NFTs

Lastly, browse for NFT Collections on NFT and choose the NFT you want to purchase. Note that the; price can range from 1 – 10 000. After you might have found your favorite, click on ‘Buy Now and confirm the transaction. Once that is done, the NFT transfer begins and gets stored in your wallet in seconds.

Finally

Investing in NFTs can be life-changing if you know how to do it. The massive outburst of several NFTs in the present market has made it more challenging for beginners to make the right investment move. However, with the aid of NFT launchpads, you can monitor the progress of each NFT available to make an informed decision.

NFT Launchpad Projects

A Comprehensive Guide to Understand the Development of Metaverse NFT Launchpads

NFT launchpads have come here to give bliss to the digital world. To make money through NFTs, you must learn how to get your project listed on top NFT launchpads. Gone are the days when young folks focused on learning a craft without understanding the marketing part. Nowadays, technology has exposed people to the importance of learning the art of marketing one’s craft to make exploits on different platforms. Most people use technology, and the consistent growth of human survival is primarily based on technological development. Thus there is a trademark in the technology for every season.

Modern technology has helped several NFT creators to raise funds for their new crypto project by listing them on credible NFT launchpads where interested investors can purchase them. Without a doubt, NFT launchpads have immensely helped NFT trading. The platform has contributed substantially to the sudden surge in NFT value and prices in recent years. 

Related: Top nft launchpad games project you should know about

Backdated to 2017, most of the pioneering NFTs were sold for a lower price, and interested buyers don’t have multiple choices of places to get NFT items. Thanks to the advent of launchpads and metaverse technology, NFT trading is now far better and more profitable. 

The term  “Metaverse” and “NFT” today does not need an introduction. They have become a trend on digital marketplaces. And along with their recorded trade volume, their acceptance has been an upsurge. But, in all ways and timelines possible, NFTs and Metaverse remain the upgrading tech that keeps the digital world rotating. With reliability and trustability, we have been assisting various users. So, we are building functional changes in the crypto space development with users.

The other space where users have several responsibilities to do to remain relevant is the Metaverse platform. Everything you can imagine is possible in the digital world and metaverse space, such as breeding unique creatures to win races. However, an NFT metaverse would be commanding by empowering the trade of assets gained from the parallel space. But before going deep about the metaverse NFT launchpad development, we have to understand what the Launchpad is?

What is Launchpad?

The best solution for people who want to enter instant into the market with everything they have in hand is Launchpad. It will be a platform that gets its users to the market will all essential needs to be one possible market paradigm. So in common, the users must go through many procedures to launch a model in the market. Thus, the NFT launchpads will have a dependable, built-ready contour that doesn’t require any modifications.

Launchpad’s design is mainly for launching new coins and crypto projects and raising liquidity. So before investors enter the mainstream, NFT launchpads help them explore crypto projects. Over the years, the reliance on NFT launchpads has strengthened human verification systems. They sort out which projects or tokens to launch. But, with the rise of the blockchain and smart contracts, new launchpads are now choosing a different and more decentralized approach. Through Smart contracts development, they build a trustless channel. That works together to increase the experience of token management for businesses.

The Metaverse NFT Launchpad Development

The development in the various sector is evolving where tech needs upgrading, and Metaverse is futuristic. So, for people, who want to build differences in the crypto space and the digital world, NFT Metaverse Launchpad will kickstart them. The evolvement of NFT launchpads in such a way that it can aid the users to adjust to all probable circumstances. It is to build a firm survival. Although, the crypto space is known for its care towards users and instability.

The Features in the Metaverse NFT Launchpad

The rise of the cryptocurrency space as a contributive development firm is the development of a metaverse NFT launchpad, which will excel in support. So for the pacesetter in the ultimate new version of the newly launched space, the growth will continue to be the prime.

Here are some of the unique features that Metaverse NFT Launchpad offers:

Enhanced Storage Medium

The advanced decentralized storage medium feature of NFT launchpads can maintain the inconsistency of the Metaverse with the same capability. Hence, in standard handling, NFT metaverse assets are simpler than handling the NFT items. Since in a vast spectrum, they have all types of assets.

Individual Portfolio

For the users who want to launch their own NFT Launchpad is possible with an Individual portfolio. Because the portfolio will have all the essential features, from listing the assets to handling the platform, thus, continuing with an efficient platform will have growth hacking and master control access for the admin.

All Needs APIs

NFT Launchpad must have all the necessary APIs to run more efficiently. With the strong metaverse support, NFT launchpads still need upgradable help. So this required a team to provide APIs that are essential for the Launchpad in the future.

High Textured Graphics Handling

Over the graphics, the NFT launchpad has very efficient support. So, through drawings, the Metaverse is about setting up the physical-world feel. Thus it does not handle to encourage them and place any obstacle to graphics or art quality support. So metaverse platforms and NFTs marketplace will have tools and algorithms to support and increase the high texture graphics.

Conclusion

With new improvements in the cryptocurrency world, the evolution of an NFT launchpad and Metaverse will help people do everything they can imagine. Sometimes players are best at a specific craft, and that craft will bring profitable results. So, this dominating marketplace is quite imposing for marketing those things. Act wise and connect with Blockchain development experts that excel in the NFT metaverse launchpad development.

NFT launchpads provide easy access for creators to locate and attract investors with their projects. Once you master the platform, you can major in NFT trading and trade like a pro. Meanwhile, a detailed understanding of the platform comes from a consistent relationship with investors. If you need further = information on how NFT launchpads works, you can visit the contact us page and fill out the short form. 

NFT Launchpad Projects

Top nft launchpad games project you should know about

Cryptocurrency has grown to be one of the largest marketplaces, with NFTs representing the technology’s leading edge. Additionally, NFTs are a field that has a great deal of overlap with gaming. While there are gaming themed NFTs, the technology itself has several uses inside video NFT launchpad games project. These games go above and beyond what is possible in the greatest cryptocurrency mobile games. The top nft launchpad games project incorporate technology into their gaming mechanics, creating an altogether new experience. NFTs not only provide new gameplay dynamics, but also provide a means for gamers and developers to monetise in-game objects.

The finest nft launchpad project use the technology underlying NFTs to provide a superior gaming experience than that of a standard game. These are games that make use of NFTs to improve your gameplay. We’re not content with only selling gaming-themed NFTs here. NFTs are used in a variety of musical genres.

Non-fungible tokens, or NFTs, represent an intriguing new frontier for cryptocurrencies. They have a great deal of promise, particularly for gaming. The following are the top nft launchpad games project available at the present.

The Five Top NFT launchpad games project

While each of the greatest NFT launchpad games project does something unique with the technology, they also share something. Each game is built on the concept of asset collection inside the game’s ecology. The nature and scope of collecting material varies per game and category, and it is mostly up to players to pick which world best suits them. The following are some of the cryptocurrency top nft launchpad games project, each of which utilizes NFTs in a unique way. Learn more tips to spot nft launchpad projects early.

Axie Infinity 

At the present, Axie Infinity is perhaps the most popular of all NFT launchpad games project. As with many other titles on this list, this one makes use of NFTs to improve the gameplay. As with Pokémon, you must gather fantasy creatures to breed or trade. NFTs represent the game’s monsters. Along with training and breeding them, you may sell them in the game’s marketplace.

Axie Infinity is an outstanding use of NFT technology that has garnered a fair amount of attention. It makes use of AXS and SLP, two Ethereum-based cryptocurrencies, and by July 2021, the NFT collection in transactions is expected to be worth around $50 million. In some ways, the game is comparable to Pokémon, and it demonstrates how NFTs might be used in these sorts of NFT launchpad games project. Click here to get more about NFT technology.

Although it is only accessible on Android, Axie Infinity is one of the most innovative NFT launchpad games project.

Sorare 

Sorare is another of the current top five NFT launchpad games project. It’s a fantasy football-themed title. As with any fantasy football game, you build a squad around your favorite players and get rewarded for their performance in real-world games. The distinction in this case is that your team is represented by NFTs rather than by individuals. This lends a unique flavor to one of the finest NFT launchpad games project.

Top nft launchpad games project you should know about

This is another of the best NFT launchpad games project that generates novel application ideas. By introducing NFTs into the player selection mechanism, fantasy esports and other fantasy sports may quickly become more lucrative.

As was the case with Axie Infinity, this game has a collecting aspect. You must amass and locate the cards for the players you want. Sorare has faithfully replicated the sensation of collecting football cards, making it a one-of-a-kind game.

Evolution Land 

Evolution Land stands out on our list of the best NFT launchpad games project because to its unique gameplay style. This is more of a city construction game, in which you may purchase land, construct structures, and overall grow your area. Each continent is represented in the game by a unique blockchain. Additionally, you’ll need to gather units known as apostles in order to locate rare troops with enhanced qualities. While Evolution Land retains certain collecting features, it distinguishes apart among the plethora of Pokémon-themed games that make use of NFTs.

Gods Unchained 

Gods Unchained is an enjoyable addition to the NFT launchpad games project lineup, since it comes from creators with a track record of creating successful games. This title is a collaboration between many past directors of the Magic the Gathering series. In a similar vein to MtG, there are several distinct NFT cards that you may acquire. This is unquestionably one of the top five NFT launchpad games project due to its history and growing potential.

Gods Unchained also has a lot of potential as an esport, depending on how it is created. When combined with the attractiveness of NFT cards and an expanding environment, we may be on the verge of discovering the next big esport to invest in.

Top nft launchpad games project you should know about

CryptoKitties

CryptoKitties is a rather enjoyable game built on the Ethereum network. It requires you to acquire a variety of cats that you may breed to increase your population. There are side missions here, such as puzzle solving, that aid in your progress through the game. This game is pretty similar to a couple others on here, with an emphasis on Pokémon-style NFTs. Due to its immense popularity and promotion of the idea of unique digital asset trading and blockchain systems to the wider public, it is likely regarded as the godfather of most NFT launchpad games project.

As a result of this heightened attention, the game’s popularity and player attraction have dwindled. As the media came to cover CryptoKitties and the unique techniques it employs, the attractiveness and overproduction of kittens distorted the market and turned many people off the game.

However, it remains one of the prettiest and most interesting blockchain-based games available.

Honorable Mentions – Best NFT launchpad games project

At the time of writing, they are some of the best NFT launchpad games project. Nonetheless, the market has grown tremendously and continues to do so. That suggests that there are many more worthy of mention than five. These are some of the other noteworthy games now available in the NFT area, along with their justifications:

Illuvium

Illuvium deserves to be included here because of its enormous size. It is important to remember, however, that this is a future game. Prior to the final release, modifications may occur. This will be a fantasy-themed open-world role-playing game. It will be a large-scale role-playing game with all the features associated with that genre, such as classes and fighting.

The title will make use of NFT Illuvials that fall under several classifications. Each offers a unique set of advantages and disadvantages, allowing you to tailor your gaming to your preferences. By completing objectives and winning fights in the game, you may raise the power of your NFT. Although the project is still in its infancy, it does seem to be rather spectacular at the time.

NFT Gaming, NFT Launchpad Projects

Use these tips to spot nft launchpad projects early

Non-fungible tokens (NFTs) are blockchain-based digital assets that may be purchased and traded.

NFTs may be purchased on a variety of blockchains, including Ethereum, Zilliqa, and Solana, and have grown in popularity in recent years. The Bored Ape Yacht Club, for example, has been resold for millions!

With so many new nft launchpad initiatives on the market, it’s difficult to discern which ones are worthwhile. How do you discern the NFT wheat from the chaff with so many nft launchpad initiatives launching?

Here’s how to detect the next major nft launchpad project before the rest of the world.

Use Twitter to uncover potential NFTs in their early phases. 

Twitter is one of the most successful channels for finding prospective NFTs in their early stages. The NFT launchpad community is quite active on Twitter, with many well-known purchasers and influencers discussing various projects. Click here for everything you need to know about play-to-earn scholarship.

Following particular accounts, such as @bobbyquinn, may provide a wealth of analytical information regarding individual NFT launchpad initiatives and their performance.

There are also Twitter Spaces, where you can keep up with new releases from verified producers and see what’s trending in real time.

Participate in Discord.

Another wonderful site for identifying emerging NFT ideas with real potential is Discord. Almost every big creator or project has a Discord Server, and the level of interaction varies based on the popularity of the project.

Furu’s Mint Club, for example, says that complimentary mints are on the way. There are also several Discord Servers dedicated to separate NFT launchpad collections.

Discord is one of the finest methods to find out what’s hot since it demands you to communicate with the community. You’ll get the opportunity to hear about new projects from seasoned buyers and those who have been involved in the NFT game from the beginning.

Make Use of Nansen.ai’s Power

Nansen.ai is a good place to start if you want to learn more about popular or hyped projects. Nansen is a data aggregator that collects buyer data from OpenSea and presents it to its audience in a variety of ways.

This makes it simple for the typical customer to see what other people are purchasing and which NFT launchpad collections are selling for the most money. Nansen can also show you what the large collectors are holding or purchasing.

If you have a Nansen membership, you can also create alerts to get notifications anytime a certain wallet purchases a collection. For those serious about getting into the NFT game, it’s a really user-friendly application.

Take a look at the project’s road map.

Checking the roadmap of an NFT launchpad collection is one of the greatest methods to see whether it’s any good. This is a key aspect of each new NFT launchpad project that goes online, since it displays all critical dates, such as airdrops, new events, and the creator’s collecting intentions.

The BAYC roadmap, for example, included dates for events such as their Annual ApeFest, the launch of a new game and new models, as well as major milestones. Collaborations and partnerships are also listed by other NFT launchpad developers, giving you an indication of the project’s duration.

Ideally, you should avoid investing in an NFT launchpad project with a short timeline and a lot of unachievable goals. For example, if a project promises a slew of free airdrops and advantages within the first few weeks of its debut, the developers are most likely planning a rug pull.

Use these tips to spot NFT launchpad projects early

Take a look at RyzeNFT.

RyzeNFT is a Ryzen Labs premium product for swiftly identifying NFTs that are considerably discounted. It features an excellent Chrome extension that allows you to check rarity rankings for certain NFTs on markets like OpenSea in a matter of seconds.

RyzeNFT also features a sniping feature, which allows you to set a maximum price for undervalued NFTs as soon as they are minted and become online. Ryze is pricey, costing 1.35 ETH, but since it is marketed as an NFT, you may resell it anytime you want.

Keep an eye on OpenSea for new activity.

OpenSea includes a nice activity page where you can keep track of new and popular collections. You may use this tool to keep track on what’s going on on the platform. This tool, unlike others, is completely free to use.

This application allows you to manually monitor activities, such as statistics or trading activity. This will give you a better understanding of how popular a certain NFT launchpad collection is and whether it’s worth investing in.

Use these tips to spot NFT launchpad projects early

You should absolutely use this tool to measure demand throughout the NFT community. Not only can you see which collections create the highest trade volume, but you can also see which whales are scooping up whole collections.

Examine Icy Tools

Icy Tools is another wonderful tool for tracking trends and identifying patterns in the NFT launchpad market. It uses real-time data to provide minute-by-minute activity updates.

The program also offers a free plan, which should enough for the majority of customers. It provides hourly updates as well as the ability to evaluate daily patterns. You may also follow wallets and get detailed notifications everytime a new NFT is coined, as well as see trends in 15 and 30 minute intervals, if you subscribe.

Many consumers are apprehensive to invest in a paid tool subscription. You may utilize OpenSea’s free tools if you have an account, but if you’re serious about locating undervalued NFT launchpad projects, such tools are a good investment.

In the future, the NFT market is only expected to expand.

Collectors are spending millions on rare collections, which is fueling the growth of the NFT launchpad sector. These are just a few strategies you may use to recognize excellent NFT initiatives early if you want to be a part of this elite club.

Final thoughts

Non-fungible tokens (NFTs) are tradable digital assets that exist on the blockchain.

NFTs may be traded on several blockchains, including Ethereum, Zilliqa, and Solana, and their popularity has exploded in recent years. Certain ventures, such as the Bored Ape Yacht Club, were resold for millions of dollars!

Axie Infinity

Everything You Need To Know About Play-To-Earn Scholarship

Play to earn scholarships, yield guilds, rented NFT characters – all those approaches help new players test out a game and achieve earnings without paying. Scholars lend their skills and time for the game in exchange for playable characters. 

In the play-to-earn gaming world, a scholarship is a way for several people to organize and share in the earnings from a game. The idea originated with axie infinity, where characters were scarce and expensive. Scholarships depend on the game’s economy. With Axie characters, one of the problems was that there was less demand from scholars and less payback. 

What is Play-To-Earn?

Play-to-earn is a new business model where real money can be earned by playing video games centered on cryptocurrency-based assets, known as non-fungible tokens (NFTs). By actively participating in these virtual economies, players can earn rewards such as in-game assets and tokens, which can then be traded or sold on an open market if the player chooses to do so.

This represents an important shift in the gaming world. Traditionally, in-game assets were confined to centralized protocols. Players were prohibited from trading or selling their digital assets external to the platform.

Everything You Need To Know About Play-To-Earn Scholarship

Play-to-earn games have been top-rated in developing countries where local jobs and income-earning opportunities are limited. Still, most people have access to a digital device and an internet connection.

This mini-documentary, titled Play-to-Earn: NFT Gaming in the Philippines, tells the story of a rural community that played the NFT game, Axie Infinity, to earn money during the COVID-19 lockdowns. Players reported that they could earn up to US$400 within their first few weeks of playing, an amount that is two to three times greater than the local minimum wage.

What is a Play-To-Earn Scholarship?

The idea was initially introduced by the Axie Infinity player community. Owners of Axies, the NFT pets required to play the game, would loan their assets to new players who didn’t own any Axies of their own.

With the rising popularity of Axie Infinity, the price to buy the NFT pets needed to play the game has increased significantly. This has created a barrier to entry for some players, especially those new to play-to-earn. Understandably, not all people are willing or able to invest in purchasing their own NFTs upfront.

A play-to-earn scholarship is a popular pathway to onboard newcomers to NFT games. Some guilds provide play-to-earn scholarships to new players as a rewards-sharing model. The guild invests in NFT assets and rents them to new players so they can start playing and earning in-game tokens without having to invest any money upfront.

The recipient of a scholarship is known as a scholar. The only upfront requirement of the scholar is their time spent playing the game, their enthusiasm, and their willingness to learn. The scholar’s earnings are split between the scholar (70%), Yield Guild (10%), and the Community Manager (20%). The Community Manager is responsible for recruiting, training, and mentoring the new player.

Do Other Play To Earn Games Include Scholarships

Once the idea of playing to earn scholarships took off, other games saw organizations that brought together character buyers and investors. Games that resemble Axie Infinity and use playable characters also get added to organizations building yield guilds. 

The advantage of a scholarship is that the guild can pick up more advanced or rare items, opening up more exciting gameplay. It’s not unusual for guilds to support several of the most widely played games. 

How to Join a Guild or Gain a Play-To-Earn Scholarship

Scholarship opportunities or another form of play for rent are available through social media or chats like Discord. 

Twitter is also a source of up-to-date searches, as some play guilds add new games almost daily. 

For Axie Infinity scholarships, the Coingecko info page for Smooth Love Potion (SLP) lists scholarships with the player rate transparently presented. 

What are the Top Play-To-Earn Scholarship Guilds

Yield Guild: This is one of the most widely known and well-financed scholarship organizations. Yield Guild has issued its own YGG native token traded on exchanges and has attracted additional funding from VC sources.

Everything You Need To Know About Play-To-Earn Scholarship

Yield Guild helps by aggregating the games with the best earning opportunities, ensuring a steady income from playing. 

  • Liberty Gaming Guild: The main goal of Liberty Gaming Guild is to give access to NFT games that were previously inaccessible due to high initial costs. In addition to Axie Infinity, Liberty offers scholarships for Alien Worlds, League of Kingdoms, The Sandbox, CryptoBlades, and Splinterlands.
  • Robo Guild: This play to earn scholarship guild offers total funding to players. Applications are open for Axie Infinity, Illuvium, My Neighbor Alice, and Decentraland.
  • Avisa Games Guild: This guild combines a game club and aggregator with a Decentralized Autonomous Organization (DAO) to find the best P2E opportunities and redistribute earnings. This guild goes the extra mile with attention to community and a personalized approach to scholars. 
  • FTX Exchange also lends support through its own partnership scheme. The market operator moved into NFT and gaming in the past months. 

Tips for Play-To-Earn Scholars

Becoming a scholar requires participation in an online community. The best approach is to be friendly and follow instructions, adding value for all. Guilds and scholarship hubs will usually target specific regions, giving more chances to applicants. Some have preferential conditions for students. 

Scholars, or the receivers of scholarships, have a choice of cashing out their rewards. But some games will not be sustainable with the constant selling of the reward token. The conditions of some scholarships thus have another goal – allowing the scholar to work toward owning their own team of characters. This would circle the tokens back into the game while preserving the value of playable characters.

The scholarship is a relatively low-risk way to test out games and earn income. Scholarships may not guarantee income, but they cut the risk of buying expensive NFT characters.

In Conclusion

Scholarships have helped many people step over the barrier of making a huge initial investment to buy a starter pack, which is necessary to become a member of the most trusted play to earn gaming community. The initiative has also led to the ever-increasing growth of the play-to-earn gaming industry, allowing cash flow through developers, managers, and scholars.

Axie Infinity

Axie Infinity: A play-to-earn game

So, you’ve not heard about play axie infinity? That means you’re missing a lot. This opportunity must not go without you grabbing it. The story of this play-to-earn game started in 2019. Axie Infinity came to the limelight during the pandemic. People were at home, looking for activities that could keep them. Then, they started playing this game. One fantastic thing about this game is the sudden increase in what people gain from playing it.

So, this article aims at providing information about play axie infinity. Do you know you can play axie infinity and earn some rewards? I am not talking about in-game rewards that are only useful in the game. In-game rewards that can be converted to money. Do you even know the meaning of a play-to-earn game? Please permit me to take you through the definition of a play-to-earn game. Perhaps, you’ll have the entire understanding of what I am talking about.

What are play-to-earn games?

Play-to-earn games are games that go beyond having fun. These games combined fun and rewards. Just as it sounds, you don’t need any further explanation before you know that these games are games that come with a prize that can be converted to real cash. The only issue here is that one may find it hard to believe that one can play games and earn money. Play-to-earn games are video games that bind cryptocurrency to compensate players with something that has real-world and virtual-world value. Prizes given as part of these games tend to be Non-Fungible Tokens, cryptographically exclusive tokens that can be used to demonstrate ownership of content like images or music. Do you know why these games are still hidden from the world? People are thinking about how possible it is. Also, people are scared of being scammed. Sincerely, you need to rise and do some research about play-to-earn games. This message is what those who are wallowing in poverty should know. You can engage yourself with something simple yet rewarding. Last year, play axie infinity blessed many people’s life. So, I can say play-to-earn games are games that come with a massive reward. Someone said play-to-earn games were introduced or designed to eradicate poverty and compensate people playing these video games. You can’t play any of these play-to-earn games without putting in some skills. So, the mental strength you put into these games needs to be rewarded.

Facts about Axie Infinity

Axie Infinity is the most-played video game in the Philippines. This unique game has blessed countless people’s life. Axie Infinity is the first non-fungible token platform to exceed one billion dollars in sales. Traders in the Philippines now accept this unique game in-game asset to pay for their daily needs like food and clothes. I hope you’re seeing how the reward is blessing people’s life. Axie non-fungible tokens raised twenty-two million dollars in venture funding. Isn’t that amazing?

Dear reader, you want to know why you need to pay attention to play axie infinity. Play axie infinity goes beyond having fun. This play-to-earn game is a unique way of adding more money to your income. Imagine yourself having fun and yet making some money. 

Axie Infinity: A play-to-earn game

Pokémon-inspired this unique game. In this game, players own and build Axies which are blockchain-based revenue-producing assets. All this happens in this game through fighting, breeding and trading. Sky Mavis developed axie. The developer makes money by taking a cut every time an Axie changes its hand. And they make their money when players breed new Axies. 

Vietnamese developers created this unique game. Axie Infinity started from a crew of developers in Vietnam. I said earlier that this great initiation began in the Philippines and Indonesia. Here are some of the facts about Axie Infinity;

  1. This play-to-earn game has been around for years. But the usage spiked in 2020 during the world crisis. Remember, there was pestilence in the land that started in 2019. The world was in serious trouble. So, people had to stay indoors for some time. The pandemic gave away for Axie Infinity. People had no choice but to start thinking out of the box. Then, the Philippians began to make money from home; since there was no other option.
  2. You need to play and earn in this game because ninety-five per cent of this game’s revenue goes to the player. Isn’t that amazing? You can’t compare the benefits of playing Axie with other video games. The economy in this game turns the traditional F2P model on its head by allocating the most revenue to players. 
  3. Axie Infinity gave people the opportunity to know more about cryptocurrencies. There’s no how one will open this unique game without creating a crypto wallet. Several people don’t have a regular bank account. But with play axie infinity, you now have a crypto wallet. Without a crypto wallet, you won’t be able to get your reward. Your reward will not be visible without having a crypto wallet.
  4. This fantastic game enables an emergent gain-sharing model. What am I saying in essence? Scholarships offer loans to users who don’t have enough money to purchase their Axies. However, the scholarship wasn’t created into the game. Scholarship arose because of a coincidence in the login system. Also, this meta-game system is accountable for a large percentage of Axie’s progress. I hope you are getting something.
  5. Like a pyramid scheme, this unique game offers value to its users. Although it resembles a pyramid from the outside, the dynamics are more like the progress loop favoured by a fast-growing startup.
  6. Axie Infinity also has ninety per cent thirty-day retention. As a player, you get hooked both by the strategic debt and the fun of the game. Of course, the desire to make money cannot be over-emphasized. Therefore, I implore you to start adding some tips to your income by playing axie infinity. Several people have made it. Then, you can do further research about this unique game. 

On a final note

Dear reader, now that you have at least 95% information about this unique game, I believe no one should motivate you on what to do. Share the link to this page with families and friends. Finally, kindly drop your question or contribution in the comment box.      

Axie Infinity

P2P Trading and Economy of Axie Infinity

The P2P trade and on-chain economic features of axie infinity are the main mechanics, which will be discussed in more depth later. While this may be surprising to those unfamiliar with cryptocurrency games, it is not wholly unique.

Games like Magic the Gathering Online (previously Magic the Gathering with Digital Objects), which saw the fluid exchange of semi-fungible cards anchored with real-world costs and in-game usefulness, included similar asset trading. While the economy in MTGO grew spontaneously, axie infinity was designed specifically for this kind of trade. The tools, both governmental and external, make asset exchange very simple.

The ease with which players may trade allows several new or previously underserved player behaviors and positions, such as:

  • Collectors: Players who purchase goods only for aesthetic, rarity, or provincial worth.
  • Speculators: Players who purchase axies with the expectation of future value appreciation. These forecasts of future worth might be the result of a paradigm change, a sense of present underpricing, or future collector desirability.
  • Arbitrage Resellers: Players that scour the market for discounts before relisting at a higher price. Perhaps they’ll use some outside marketing to advertise their product.
  • Breeders: Players who develop new, highly desired axies by breeding axies from excellent stock.

These jobs have real-world analogs in hobbies like stamp collecting and pet rearing, and they cater to psychographics that are generally underrepresented in conventional games. For many, the money side of hobbies, whether net positive or negative, is a key factor: It might be a side job or a method to invest and own a piece of their passion. As a result, the axie infinity Marketplace might be compared to a hobbyist swap meet or a breeder show, a meeting of individuals and a value exchange. Mt. Gox, the well-known crypto exchange, was founded as an MTGO card exchange to facilitate card speculating.

Community

In relation to the interests mentioned above, one of the major advantages of axie infinity is the size and quality of the community. The official discord has approximately 780k members as of this writing, there are several community-built third-party tools, Twitch viewership is increasing, and YouTube is well-served for video.

Actively sociable players in a game establish relationships that persist longer than any game mechanism, akin to friendships formed via hobbies. Humans, who are highly sociable beings, are bound together by mutual interests.

In comparison to other games, these communities seem to be more pleasant and open. The partly linked interests of creators and gamers are likely strengthening this pleasant feature of the community: Both want their assets to appreciate, therefore they’re looking for additional participants.

Regardless, the community’s size and quality is a significant benefit for Sky Mavis, not just for the future success of axie infinity, but also for any future games the company may develop. It offers a ready-made playerbase that can be easily mobilized for a fresh release, both monetarily and in terms of player liquidity. What could be better than that?

P2P Trading and Economy of Axie Infinity

P2E Isn’t a Long-Term Solution

Sky Mavis, scholarship programs, and the player community have all praised axie infinity ‘s earning potential. While this has proven true in recent months, much has been written regarding the economy of Axie Infinitie’s long-term viability.

The foundations, on the other hand, seem to be shaky. Since mid-July, SLP prices have progressively dropped, falling 85 percent from $0.40 to $0.06 today (29 September 2021). This is because the P2E mode has a basic flaw: Once fulfilled, demand becomes supply.

The demand for axies drives the value of SLP. However, since there is a limited limit to how many axes a person may possess, a steady influx of new players is required to keep demand consistent.

While this seems to be an acceptable solution, there is a second-order issue: those new players become suppliers. Turning Energy into SLP is the technique of effectively playing axie infinity. This decreases the need for SLP purchases by the player, and any surplus is sold on the open market. Furthermore, once these individuals leave the game, they will most likely liquidate their axies, increasing axies supply while decreasing breeding need and hence SLP demand.

The issue is compounded by P2E players who are solely concerned with increasing the amount of SLP created for the secondary market, not for the game. These players become economic taps, and their success simply encourages additional players (or employees) to follow suit.

As a result, a growing rate of new axie infinity players is required, not only a continuous supply of new players: The supply of grinded materials rises in tandem with the player base. Of the near term, an exponential growth in new players is feasible, but it is unsustainable in the long run.

This has been seen in the economy, as the supply of SLP has grown, leading in a price drop in recent months. It’s likely that P2E players and scholarship managers may abandon the game and cash out below a particular SLP price, causing a value exodus and falling prices across SLP, AXS, and axies.

Sky Mavis has reduced the reward rate of SLP and AXS required for breeding for the time being. Despite the fact that the market supply has been cut, prices have continued to decline.

P2P Trading and Economy of Axie Infinity

In the long run, the dev team has been quite forthright about the need to control the amount of axie infinity players and their influence on the economy. The current strategy consists of three parts:

1. Increase axie demand by introducing additional gameplay concepts that aren’t part of the main game, such as the long-awaited land mechanics. Land mixes resource collection and management with what looks to be PvE-style gameplay from Final Fantasy Tactics.

2. Destruction of axes in order to build or improve other equipment.

3. Soulbound axes, which are available to gamers for free but do not yield SLP.

These solutions, on the other hand, do not seem to be compelling in terms of addressing long-term need. Specifically, the land element, although appealing, deviates from the core game that has made the game successful and exposes the product to significant risk. Land effectively dilutes the established product market fit, complicates an already complex onboarding process, and, like any additional gameplay, may become unappealing.

Breaking axes to make or improve objects is a more sensible strategy, since it adds to the economy’s drain. However, how this is handled has far-reaching consequences. To begin with, asking users to destroy products worth hundreds of dollars may be a tall order. Second, if breaking axes to improve other axes results in large PvP gains, it will become a de facto need to remain competitive, resulting in an increase in the beginning price.

Finally, soulbound axes are a fantastic addition. They may ease down the onboarding process if handled appropriately (see Accessibility below), but they run the danger of satisfying the gaming demands of users who have no interest in axie breeding, lowering upfront buy-in and hence reducing axie demand.

Axie Infinity

Before you invest in Axie Infinity

In today’s world, where non-fungible tokens are being used in different applications every day, online gaming has established a strong reputation for doing so. Axie Infinity, which falls under the genre of play-to-earn games, has been one of the most popular blockchain-based games in recent years. Players have been making a lot of money during games in a variety of methods, which has raised a lot of questions, and some players have even identified the game as their primary source of income.

If you’ve just recently learned about axie infinity and are looking for a way to make money via gaming, this blog may provide you with information about both the game and the i-game marketplace.

The Plot of Axie Infinity

Axie Infinity is a game based on the Ethereum blockchain that has a narrative similar to the popular Pokemon series. Out of all the Ethereum-based games, this one has the most active user base. Despite its goal of being a decentralized game, axie infinity is currently regulated by Sky Mavis, the firm that created it, and they claim that decentralization will happen shortly.

Before you invest in Axie Infinity

How to Make Money Playing Axie Infinity

  • The simplest approach to make money on the game is to play it often. Although the game is visually appealing, you must be tactically watchful in order to win fights; failing to do so might result in the loss of your invested funds.
  • The primary characters in the game are known as ‘Axies,’ which are NFTs that create income as well as price speculation. To earn bitcoins, a player must assemble a squad of three Axies to fight bot monsters (Adventure Mode) or other players (Arena Mode). Completing daily missions or challenges will also earn you extra money. There are numerous additional ways to make money using Axie Infinity. Smooth Love Potions (SLPs) are highly sought-after goods since they are required for breeding. In addition, players may acquire AXS (Axie Infinity Shards), which will eventually become the game’s governance token. Players bet AXS to gain prizes from the Axie Infinity game community treasury, which is a hazardous alternative.
  • Due to the regulation that a player may only have three Axies in their team and that numerous accounts are not permitted, scholarship agreements are gaining popularity among users. These agreements allow players who have too much Axies or don’t have enough time to play to pay scholars (i.e., other players) to play on their behalf and earn SLPs. Such agreements feature a 70/30, 60/40, or 50/50 incentive share, providing a passive income. If you hire numerous academics in addition to playing with your own Axies, the earned cash becomes sufficient. Deals take occur outside of the gaming area since this scheme isn’t part of the game.
Before you invest in Axie Infinity

Using Axie Infinity’s Marketplace to Make Money

  • Players have made a lot of money by breeding Axies. The Axie’s worth is determined on its abilities and rarity. This strategy would always make money regardless of Axie profiles since new people join every day looking to build their own Axie teams. Such transactions take happen in the game’s own marketplace.
  • Players may invest in Lunacia land plots in-game, which is still a future feature. A player may spend NFTs to purchase a parcel of land in the game’s universe and use it as their home base. Players may also rent out their plots to other players, as well as customize their plots to meet their own requirements. This is a feature that is still under development, but we will soon see its full capabilities.
  • •As the game grows in popularity, speculating on a rare Axie you’ve developed or purchased might be a lucrative alternative. When it comes to speculating on fractionalized Axies, there are two options: single fractionalized axes and collections of fractionalized axes.
  • In addition to selling Axies and Lunacia land plots, objects that may be utilized as tactical assets on the ground (such as lights, pouches, pillars, propellers, and even patches of grass) and even bundles containing numerous such items can be exchanged for a reasonable sum.
Before you invest in Axie Infinity

Should I Put My Money into Axie Infinity?

If you’re considering picking up Axie Infinity and earning money after going through all of the points on how to do so, here are some things to think about:

• Conduct your own study into the world of cryptocurrencies and NFTs. In other circumstances (such as cryptocurrencies), the world of blockchains is known for its volatility, and you can never bet on fluctuations.

• Some countries do not allow play-to-earn blockchain gaming, so be sure to check your country’s cryptocurrency and NFT legislation.

• There have been reports of players’ Axie Infinity accounts being hacked. Even a support member’s Discord account was hijacked, and various frauds were perpetrated via it. So, much like the rest of the internet, be mindful that hackers and frauds are still prevalent.

• Such games require you to spend real-world money to begin with and need you to devote a bigger amount of your everyday life to playing since things may change in a couple of hours. So, if you’re truly willing to put in a lot of work, dive into the world of Axies.

Growth pains

Axie Infinity was released by Sky Mavis in May 2018 as a virtual world peer-to-peer (P2P) game in which participants earn cryptocurrency prizes that can be traded on centralized exchanges like Binance or exchanged for ether, USDC, or Axie governance tokens (AXS) on Axie Infinity’s decentralized exchange.

Players may trade, fight, and breed NFT pets known as Axies, which are akin to Pokémon investment opportunities. The main distinction is that in-game resources, such as Axie’s bodily parts and looks, have a market that is open and managed by users, according to the business.

According to statistics from Token Terminal, Axie Infinity witnessed an unexpected increase of participants and transaction volume in the second half of 2021, with a monthly total transaction volume of around $3.8 billion in December 2021, up from $206 million in June 2021.

The game’s total income at the end of 2021 was almost $1.3 billion, up from $18.8 million six months before.

Axie Infinity

Axie Infinity was recorded to be the fastest-growing NFT in 2021

Following the meteoric rise in popularity of NFT cryptocurrency collectibles in early 2021, numerous blockchain-based gaming firms set out to capture a piece of the new industry. One of them was the independent game axie infinity by Sky Mavis.

The monster-battling game, which was inspired by Nintendo’s Pokemon franchise, resisted the recent crypto market crisis and boosted its active daily user base to over 1.8 million individuals globally. Furthermore, the native cryptocurrency of the blockchain-based game has soared to new highs.

According to statistics provided by Mejores Apuestas, the market value of axie infinity (AXS) tokens increased by 27,600 percent YTD to $7.9 billion last week, making it the most valuable NFT currency among the top ten.

After a massive airdrop and AXS staking, the market cap doubled in three days

Axie Infinity, a blockchain-based game, operates on the Ethereum blockchain with the support of a side chain named Ronin. Its play-to-earn strategy pays out crypto tokens that can be traded for cash to successful gamers.

After a massive airdrop and AXS staking, the market cap doubled in three days.

Axie Infinity, a blockchain-based game, operates on the Ethereum blockchain with the support of a side chain named Ronin. Its play-to-earn strategy pays out crypto tokens that can be traded for cash to successful gamers.

Axie NFTs, which enable players to participate in critical votes in the Axie world and constitute one of the company’s income sources, are also given to players. The gaming firm makes money by charging a 4.25 percent charge for buying and selling Axie NFTs on its marketplace, as well as collecting fees for generating and breeding token-based animals known as Axies.

According to CoinMarketCap statistics, the market cap of AXS tokens was $28.5 million in January of this year. This sum has almost doubled to $248 million by the end of the first quarter.

The cumulative value of all AXS tokens rose to $508 million in May, when Sky Mavis received $7.5 million in Series A investment, and then almost plummeted in the following weeks. The market worth of axie infinity rebounded in July, reaching over $1.5 billion, but it was nothing compared to the surge experienced this month.

Following the delivery of a major airdrop to early supporters and the opening of staking for AXS token, Axie Infinity’s price quadrupled and achieved a record high over $145 in the first three days of October, boosting its market valuation to $9.1 billion. Despite the fact that the sum dipped to $7.9 billion last week, it is still 290 times higher than January’s data.

Almost a twofold increase in growth compared to other leading NFT coins

When compared to other prominent NFTs, the rise of axie infinity’s native crypto is even more amazing. Sandbox was the second-fastest-growing NFT in 2021, according to CoinMarketCap statistics, with a 2,900 percent YTD rise and a market worth of $680 million as of last week. Chilliz tokens came in third place, with a market valuation of $1.9 billion and a growth rate of 1,607 percent during the same time period, about twenty times less than the market leader AXS.

Enjin Coin and Decentraland round out the top five, with market capitalization that have increased by 1,115 percent and 1,066 percent, respectively, since the start of the year.

Axie Infinity was recorded to be the fastest-growing NFT in 2021

How Axie Infinity is assisting unemployed gamers

Vincent Gallarte, a Manila-based information analyst, discovered an odd financial lifeline when he was let off in July: an online game that pays participants in cryptocurrencies. Mr Gallarte earned more than 37,000 pesos ($732) in his first two weeks of Pokemon-style questing and fighting, more than three times what he would have earned at his “regular job.”

Mr Gallarte, 25, had no prior interest in the world of Bitcoin, Ether, and other cryptocurrencies, as do many novices to so-called play-to-earn games. He now envisions a successful secondary business.

“The same day my company ended my employment, I began playing Axie,” he said. “I’m quite thankful.”

Axie Infinity is one of the most popular – and divisive – of the new games that enable players to collect tradeable cryptocurrency coins.

It provides a doorway to cryptocurrencies for individuals all around the globe, according to investors like billionaire Mark Cuban and Reddit co-founder Alexis Ohanian, who were part of a $7.5 million fundraising round for Sky Mavis, the creator of Axie Infinity, in May.

Others find indications that the axie infinity model is unsustainable, citing the high buy-in cost of more than $600 and the surge of newcomers “working” for low-value tokens.

The number of daily active users on Axie Infinity increased from 30,000 in April to over 1 million in August, with the majority of users coming from poor nations affected severely by the Covid-19 epidemic, such as the Philippines, Brazil, and Venezuela.

According to Etherscan, Axie, which was originally created on the Ethereum blockchain, has seen about $30 million in Ether transactions every day over the last month. In the $2.2 trillion cryptocurrency realm, that’s not much, but it’s significant for players – and governments – in poorer nations.

Axie Infinity was recorded to be the fastest-growing NFT in 2021

According to local media, the Philippines’ Department of Finance and Bureau of Internal Revenue notified players on August 23 that their Axie Infinity gains are liable to income tax.

Aleksander Leonard Larsen, Sky Mavis’ chief operational officer and co-founder, says they take their responsibilities seriously, monitoring in-game currency and modifying the market as appropriate.

“Some people compare us to the Federal Reserve,” he continues. “We are, in the end, the creators of this world, and it is our responsibility to ensure that it continues to exist. We’re continuously keeping an eye on the economy to make sure it’s in good shape.”

Players lead colorful, blob-like creatures known as Axies to gather two types of currencies in axie infinity’s online universe of Lunacia. Smooth Love Potions, or SLPs, are rewarded for winning fights and may be paid in or used to produce more Axies in the game.

Seasonal tournaments and selling Axies in the game’s marketplace may earn you Axie Infinity Shards, or AXS. AXS may also be paid out, however they’re supposed to work similarly to shares, like other governance tokens: Holders will ultimately be able to vote on new game features or corporate expenditure requests, according to Sky Mavis.

A relative told Mr Gallarte about the game. However, to get started, gamers will need three Axies, each costing about $200. That was simply too much for Mr Gallarte, who had just lost his job.

He looked for a sponsor, someone who would lend his Axies to new players in return for a share of their in-game earnings, which might be as high as 90%. Whatever a player makes with a loaned Axie goes to the owner, who is expected to send the player his portion.

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