Axie Marketplace is an NFT marketplace that allows you to play crypto video games. You can also buy and sell NFTs like land, items, creatures, and others that you can use in the Axie Marketplace. When it comes to playing the game in Axie Infinity, you will need three Axies. And then you will need the marketplace to start. So, you want to explore the marketplace? Then follow this article.
Before going further about the topic, let’s see some basic information about Axie Marketplace and Axie Infinity.
|Blockchain||Ronin SideChain (Ethereum Blockchain)|
|Fees||5.25% (For Sellers)|
|Services||Buying and Selling NFTs|
|Payment Method||ETH (Ethereum)|
These days, you will see hundreds of NFT marketplaces. There are NFT marketplaces for e-commerce, online games, music, collectibles, photography, and others. But, here we will talk about this marketplace where you can play games with different NFTs and creatures. And you can use these NFTs in the game.
As you already know different things about Axie Infinity, now it is time to know the perks of this marketplace.
- Gaming NFTs
The Axie Infinity marketplace is one of the marketplaces where you can play the Axie Infinity game with the NFTs. The platform offers thousands of Axies, and these Axies are digital pets with rarity and attributes. In the game, you need to battle with the pets, breed them, create new Axies and explore the game area. You can also buy and sell Land on the platform with different items in the game world.
First of all, you can buy and sell NFTs o the marketplace. Once you are in the game, the NFTs that you can buy or sell will be added to your inventory. Suppose you want to sell something from your inventory, then either you can arrange an auction or sell that at a fixed rate.
- Earning Cryptocurrencies
One of the most exciting things about Axie Infinity is that you can earn cryptocurrencies by playing this game. There are other P2E or play-to-earn platforms as well, and Axie is one of the best. Users of this platform can earn rewards. Suppose you are investing in this platform. Then there are two ways to earn profit. The first one is to sell NFTs, and the second one is in-game rewards.
There are players who buy Axies and then play the game. Later they try to earn crypto and make a profit. And other players who want to make a profit rent their Axies for a cut of their earnings. This type of investment is called a Scholarship.
- No Fees for Buyers
This feature is one of the best and most attractive for many users as there is a fee that a buyer needs to pay. Axie Marketplace doesn’t charge a single penny to its users. In the NFT marketplace, this thing is rare, as NFTs charge a lot on different platforms. But you need to know that there are gas fees when you deposit Ethereum. If you want to enter this platform, then you need to open a wallet on Ronin to transact cryptocurrencies.
Axie Marketplace Review
I have already told almost every advantage of Axie. Or you can tell those pros. But when you decide to use the platform, you should know which areas of the Axie Marketplace should be improved. So, here are the areas.
- High Fees for Sellers
As you already know, there are no fees for the buyers. But when it comes to the seller’s fee, that is really expensive. Sellers need to pay a total of 5.25% to the Axie Infinity Marketplace. So, for example, suppose you are selling an Axie, and you set a price of $1,000. When someone buys your Axie, then you need to pay a total of $52.50 to the platform. If we compare the fees with other platforms, then other marketplaces take an average of 2.5%.
- One Type of NFT
Suppose you have an interest in several NFTs and want to trade them. In that case, there is no positive side to this marketplace. As you only find Axies for the platform and the game. If someone is an online gaming enthusiast or an Axie Infinity player, then the marketplace is great. But you will not find videos, digital art, sports highlights, and others on this platform.
- Multiple Wallets
The Axie interface is simple and easy to use. Whether you are a rookie and have been into different NFT marketplaces, the platform will not bother you to use. But, when it comes to using the marketplace, you need to open two different wallets. The first one is MetaMask, and the second one is Ronin Wallet.
The platform uses the Ronin sidechain, so you need to open Ronin Wallet. And you have Ethereum in your wallet to buy other cryptocurrencies. So you will also need a MetaMask. But there is no doubt that MetaMask is one of the best and most secure wallets for cryptocurrencies.
Axie Marketplace: Pros and Cons
As you are already aware of the different features of this platform. Let’s compare the pros and cons to understand the platform.
|You can buy and sell NFTs by playing games and making a profit.||There is only one type of NFT.|
|You will get cryptocurrencies as rewards.||You need to have multiple wallets to use the marketplace.|
|There are no buyer’s fees.||The seller’s fees are high.|
When you use the platform, you will find these NFTs.
- Bundles of Items
First of all, Axie Marketplace is not a scam. The platform is legit, and there are thousands of players playing the game and trading Axies, and earning cryptocurrencies. If you want just to play the game and earn cryptocurrency, you can do that. Or, if you want to trade NFTs, you can do that too.
If you find any problems while using the platform, then feel free to ask in the comment section below.