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I could see that lately everyone is hailing up and hyping how got Axie Infinity is and how profitable is to play it. Well, this is not entirely true, and, while looking good on paper, if I am using the same time to get a minimum wage job, I will probably make more. I know, you will say, not all the countries are equal, and in some places $100 is a lot of money.
This is true, but while most people are trying to show you the best points of the game, let me to show you the difficulties and the numbers you didn't add, as you will not know about it as a beginner.
First of all, I am playing Axie pretty much from the beginning, even if I stopped for a while, and for my first Axies I paid something like $10-20, long long time ago. I got some expensive ones. Right now one average axie is like $400-500. Now, this is expensive. And you need 3 of them to form a team, and to start to farm SLP. Right, first way to earn in Axie. Infinity is to battle other players or doing missions, and you are rewarded SLP, the more advanced you are, the better the rewards. Still, the reward was recently capped at 100 SLP per day, and you can get another extra 50 SLP if you do 10 missions and win 5 PVP battles (player versus player). 150 SLP right now are around $40. Playing optimally, you can make 4500 SLP, theoretically, practically, due to the big number of new players joining in, all the servers are slow, break easily, and is a real hustle even to do your 100 daily SLP. Most annoying error is when the game disconnects right before you win, making you to lose the rewards. Sometimes, after 20-60 minutes is reconnecting, but who has that time to wait so much. Easier just to close with Control-F4 and start another game. This is the first problem. Then, Axie works on Ronin Blockchain, so you need to move your SLP from Ronin to Ethereum ($12-16 fee per transaction) and after that to use Uniswap or something similar. Another two fees ($12-18 each). So, basically every time you want to sell SLP, you will pay aroung $50 in fees (as per today).
When I tried to use Uniswap earlier today, the website did not work, showing some strange error. So, I decided to try SwapSpace, and it was not a bad experience. The site works smoothly, and even if I paid around $16 for the transaction, I would like to think that I managed to save 10-15 bucks. I am pleased to say that everything went quite well, and the ETH received for my 1500 SLP sold arrived in my wallet in 12-14 minutes.
Another way to make some honest profit is to breed Axies. I just breed one today, with the only aim to check how much you need to pay for this adventure. Each time you breed, your Axie will get a breed count, and the more times you breed, the more expensive it is. If you use two Axies with breed count 0 (zero) you need to pay 150 SLP ($40) for each, and 4 AXS tokens ($88). Not only, but if you need to buy any of these tokens, you need to pay fees for buying and transfering from ETH blockchain to Ronin blockchain. another $24-30. Then, once you have everything ready, you need to pay to morph you egg all the way from larva to adult (more fees). Once you sell, you will receive Wrapped ETH on Ronin, so you may also need to unwrap it to send it to your ETH wallet.
As you can see, I sold my Axie as larva, without waiting to grow as an adult, so this will be a big gamble for the buyer, as it can have average skills, or if you are lucky, amazing skills and can be sold for few ETH. I got paid 0.19 ETH for my young Axie, which is $364.
I paid the following taxes and fees:
- breed - 600 SLP ( both Axies were breed count 1, so 300 SLP each), and 4 AXS tokens, bought on Uniswap translated in $208
- another $12 fee to put it on market
- final fee of $4 to send the WETH from Ronin to ETH blockchain
Total expenses: $224
Total profit: $140 (keep in mind that at breed count 2 you need to pay 900 SLP, and that will make the expenses bigger than the Axie price to sell).
And at last, the third way to make some profits is to own an Axie Land (good luck with that, average prices for a land are $4-20K, yes, you see it right, thousands of dollars). If you buy a land now, I think you will wait a long time to recover your investment.
I hope this will help you, if you think to start right now, and will make you aware of the problems that you may encounter in the game. Do not forget to optimize your profit, using SwapSpace, if you are up to save enough money to reward yourself with a Pizza and a Coke. It is simple to use, and, as some of my friends will appreciate, requires no registration or KYC. I think I will test it for some of my other tokens too, as it saved me some of my precious time.
That's all for today.
All the best,
George
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