Note: I am implementing Idea 1 already and have made a few thousand bucks for a month now. However, I am considering adding or switching to another idea. Appreciate any comments!
Hi everyone, I'm James and I want to run a business in crypto games (NFTs). A business I am running is in Axie Infinity, which is a game full of creatures, named axies, for battling (Yes, I have a huge third party risk right now, but since this game is moving towards decentralization, I should gain more control over time until it is fully decentralized).
Business Idea 1: Breeding Axies
This is what I am currently doing. I get some pairs of axies and start breeding them, eventually selling them in the marketplace in-game. People buy axies for numerous reasons, like battling, breeding, or simply as collection, etc and I breed axies cater to customers who buy axies for battling and breeding. There is a bit of knowledge involved in breeding, like knowing how axies genes work and the percentage, etc, and also some cost (around 2000usd right now to get into breeding). I have made a few thousand bucks from this since last month, but since the entry of barrier is going to reduce in the next few months due to a huge reduction in gas fee (basically, the cost of breeding axies will drop immensely, hence reducing entry barrier), I think this business cannot sustain long due to limited profit margin.
Business Idea 2: Buying limited axies
This is what I am considering moving onto. Since I am earning some profit from breeding, I am wondering if I should start putting my profit into buying limited axies. Generally, battling and breeding axies are inflationary, but limited axies will increase value over time (asset). There is still some knowledge I have to learn to know which are good rare axies, and this have a higher entry cost (right now, a rare axies cost roughly around 4000usd). Is it a good move to start putting the profits I made from breeding into buying limited axies and sell them in the future? Or do you think it's better to expand the breeding production line despite less profit margin over time?
Let me know what your thoughts are!
Hi everyone, I'm James and I want to run a business in crypto games (NFTs). A business I am running is in Axie Infinity, which is a game full of creatures, named axies, for battling (Yes, I have a huge third party risk right now, but since this game is moving towards decentralization, I should gain more control over time until it is fully decentralized).
Business Idea 1: Breeding Axies
This is what I am currently doing. I get some pairs of axies and start breeding them, eventually selling them in the marketplace in-game. People buy axies for numerous reasons, like battling, breeding, or simply as collection, etc and I breed axies cater to customers who buy axies for battling and breeding. There is a bit of knowledge involved in breeding, like knowing how axies genes work and the percentage, etc, and also some cost (around 2000usd right now to get into breeding). I have made a few thousand bucks from this since last month, but since the entry of barrier is going to reduce in the next few months due to a huge reduction in gas fee (basically, the cost of breeding axies will drop immensely, hence reducing entry barrier), I think this business cannot sustain long due to limited profit margin.
Business Idea 2: Buying limited axies
This is what I am considering moving onto. Since I am earning some profit from breeding, I am wondering if I should start putting my profit into buying limited axies. Generally, battling and breeding axies are inflationary, but limited axies will increase value over time (asset). There is still some knowledge I have to learn to know which are good rare axies, and this have a higher entry cost (right now, a rare axies cost roughly around 4000usd). Is it a good move to start putting the profits I made from breeding into buying limited axies and sell them in the future? Or do you think it's better to expand the breeding production line despite less profit margin over time?
Let me know what your thoughts are!
Dislike ads? Become a Fastlane member:
Subscribe today and surround yourself with winners and millionaire mentors, not those broke friends who only want to drink beer and play video games. :-)
Access Restricted: Unlock 1,000,000+ Posts
Stop Peeking Through the Keyhole.
Open the Door.
You hit a wall because the best advice isn't free—it's earned. Since 2007, MJ DeMarco has been active here daily (99.9% active rate), building a war room for entrepreneurs who refuse to settle for mediocrity.
- Active Daily: Life-changing content posted dozens of times every day. No dead threads.
- MJ's Inner Circle: Direct access to the author of The Millionaire Fastlane.
- Vetted Network: Connect with founders scaling to 7 and 8 figures.
- Proven Roadmaps: Strategy over motivation. Execution over "hustle porn."
"SCALED TO 6-FIGURE MONTHS"
"Tips and advice here saved me from huge mistakes, others allowed me to scale my business to 6-figure months."— User MitchC
"INSANE QUALITY OF PEOPLE"
"The number of high quality people I've met from this forum has been insane. All of it predicated on building real value."— User Richard Peck
"You are the average of the five people you surround yourself with."
Are you surrounding yourself with success?
