By Hannah Perez
The reputable exchange opened a contest for Latin American users where the winner will receive full sponsorship to play Axie Infinity.
Binance, the world’s largest cryptocurrency exchange by trading volume, has started offering scholarships for the Axie Infinity
video game. The initiative is especially aimed at users in Latin America interested in getting started with the most popular game of the moment.
The Binance en Español Twitter account shared the news on Monday, inviting interested parties to participate in the scholarship contest. The exchange
informed about the details of the initiative in a
its official Spanish-language blog
We’re glad to hear that our community enjoys the Play and Earn mode that games like Axie Infinity provide. In order to boost accessibility to the game in Latin America, we will start raffling full scholarships, where the winners will have full access to these accounts and their production.
The scholarships are here!
????️Tell us in a tweet why you want to win the full scholarship, tag us and use the HT #Binance
????BONUS: Make a video explaining the integration of the Ronin network into Binance and how it benefits Axie players.
– Binance en Español (@BinanceES) September 6, 2021
With its ‘Play To Earn’ model, Axie Infinity
allows players, especially from developing countries, to earn a monthly income by breeding, collecting and fighting tokenized monsters. However, the cost of entry to the game can be quite high, which is why the scholarship mode has become an alternative for interested players.
Binance gives away Axies gear
Axie Infinity grants allow users to set up loan agreements for the game’s figurines, the Axies
. From this agreement, a new player will be able to use the creature – which is minted as a non fungible token (NFT) – from another player to get started, in exchange for deriving a percentage of the proceeds to the owner.
Keep in mind that Axie’ s NFTs are expensive: it takes three monsters to play, and each one is generally priced at over $300. This means an entry fee that can typically range from $1,000 to $1,000.
In the case of the Binance contest, the exchange is not offering a scholarship in the traditional sense. Instead, the winning user will get the full Axie monster kit while enjoying ownership of the NFTs. “We use the term “Scholarship” because that’s what it’s known as in the community, only this time the winner will own their Axies outright,” the company explained in a tweet.
To participate in the contest, those interested must tell in a tweet why they want to win a scholarship. They must also post a video explaining the Ronin network’s integration with Binance and how it benefits Axie players. The contest ends on September 16. Users can find out the full rules for participating in the tournament in the official announcement.
At the moment, it seems that the contest is meant to award a single scholarship to the lucky winner. However, the promotional image of the initiative suggests that the platform could launch other contests with more scholarships as gifts.
Scholarships for players in Latin America
Binance completed the Ronin network integration of Axie Infinity (AXS) and Smooth Love Potion (SLP) earlier this month and enabled deposits for Ronin AXS and SLP tokens, the game’s native cryptocurrencies. Other renowned exchanges in the ecosystem, such as. Coinbase, have also been quick to list Axie tokens on their platform amid the game’s growing popularity.
For its part, Binance isn’t the first exchange in the ecosystem to venture into the Axie Infinity Scholarship mode. A few weeks ago, U.S.-based exchange FTX entered into a business partnership with startup Yield Guild Games (YGG ) to provide scholarships to gamers in developing countries.
The move will provide sponsorship directly to 137 players. Of these, 21 of the scholarships are intended for players in Latin America. It should be noted that the game has spread in countries such as Brazil, Venezuela and Argentina, where it is a viable alternative income for some users in the midst of the economic problems facing those nations.
Article by Hannah Estefania Perez / DiarioBitcoin
Image by Unsplash