Gaming platforms gained so much popularity in today's digital world for their play-to-earn model. Because AXS allows players to earn on this platform, it has become famous worldwide.
This platform, with its native token, AXS, has become valuable cryptocurrency in the world. However, not all players have access to cryptocurrency, which led to the transition from AXS to PHP, the Philippine peso.
It’s a gaming platform that is based on Blockchain and allows users/players to Purchase, raise, and engage with Axies.
The platform uses a cryptocurrency known as AXS, so players can earn by participating in the game's play-to-earn model. Additionally, Axie Infinity has gained immense popularity, especially in the Philippines, where many players have been able to earn a living through the game.
AXS is a token at the heart of the Axie Infinity ecosystem. It serves as a utility token and is used for various purposes, including buying and breeding Axies and participating in battles. AXS is also a reward mechanism that incentivizes players in the game. The more you do effort to play, the more AXS you can earn.
You can purchase and sell AXS on multiple cryptocurrency exchanges like Binance. You can also trade AXS against cryptocurrencies like Bitcoin and Ethereum.
For Axie Infinity, the Philippines have been one of the biggest markets, with thousands of players who earn a living through the game. However, not all Filipinos can access cryptocurrency due to the lack of bank accounts and credit cards. This led to the need to convert AXS to PHP.
BloomX, a Philippine-based cryptocurrency exchange, was the first company to offer the service of converting AXS to PHP. In addition, BloomX has a network of over 10,000 partner outlets, including pawnshops, convenience stores, and remittance centers, where players can convert their AXS tokens into PHP.
Players need to create an account with BloomX and verify their identity. They then need to send their AXS tokens to their BloomX wallet address.
Once the tokens have been received, players can use BloomX's network of partner outlets to convert their AXS tokens into PHP. The rate for conversion is based on the prevailing market rate, and BloomX charges a small fee for the service.
To convert AXS to PHP on Binance, you must create an account on their platform and complete the necessary verification steps. Once your account is set up and verified, you can follow these steps to convert your AXS tokens to PHP:
It is important to note that Binance charges a small fee for each conversion, and the conversion rate is based on the prevailing market rate. Always review the conversion details carefully before confirming the transaction to ensure you get the best value for your tokens.
The Philippine National Bank (PNB) and the Union Bank of the Philippines are other companies that offer the same service. The PNB has partnered with Axie Infinity to enable players to convert their AXS tokens into PHP through its mobile banking app.
UnionBank, on the other hand, has partnered with CryptoLocally, a peer-to-peer cryptocurrency exchange, to enable players to convert their AXS tokens into PHP.
The transition from AXS to PHP has been a game-changer for many Axie Infinity players in the Philippines. It has allowed players who do not have access to cryptocurrency to earn a living through the game. The play-to-earn model has become famous for Filipinos to supplement their income, especially during the pandemic.
Axie Infinity has also made it easier for players to withdraw their earnings from the game. Players can withdraw payments directly to their bank accounts or through remittance centers like Palawan Express and Cebuana Lhuillier.
With the current Market price of AXS, 600 Axie Infinity Shards is 10181.37 Philippine Peso.
If you convert 1000 AXS to USD, it would be worth 7990 USD at the current exchange rate of 7.99, according to BeInCrypto. You can also convert your AXS tokens to cryptocurrencies like BTC, DOGE, or MATIC. The exchange rates are updated regularly, and as of 2023/04/29 06:24, the latest exchange rate is being used.
The transition from AXS to PHP has been a significant development for the Axie Infinity community in the Philippines. It has enabled players who do not have access to cryptocurrency to participate in the game and earn a living.
With the increasing popularity of blockchain-based gaming platforms, we expect more companies to offer similar services, making it easier for players to participate in the gaming economy.