Key Takeaways:
- Axie Infinity differs from a typical game because it leverages blockchain technology. To reward players for contributing to the ecosystem.
- The game is a mix of cards and an in-game battle system.
- Players can turn their Axie into a “Axie Infinity creature”. Which is a digital creature they can sell, trade, or even breed with other players.
Non-fungible Tokens (NFTs) have been gaining popularity and attention recently. They are becoming relevant due to the rise in the adoption of blockchain technology.
One game that implements the Ethereum blockchain and has seen an increase in interest is Axie Infinity.
In this game, players collect and breed digital creatures called Axies. They can then train and trade axies with other players around the globe. The game runs on its cryptocurrency called AXIE Infinity.
It allows users to invest their time playing the game without worrying about its sustainability. Since blockchain-based architecture supports the game.
The game uses the cryptocurrency itself as a fuel within its ecosystem. While allowing users to earn more as their Axies grow up.
Axie Infinity History
By making Axie, the world got a fun and educational way to learn about blockchain technology. The original team members met playing Cryptokitties. It was their first time using blockchain technology for non-trading activities.
In other words — these guys are technologists. Who play with the technology instead of trading on Crypto Exchanges!
Axie Infinity differs from a typical game because it leverages blockchain technology. To reward players for contributing to the ecosystem.
This mechanism, dubbed Play-to-Earn, has become popular in countries like the Philippines, Argentina, and Venezuela. Where economic opportunities available in games exceed those available in real life.
Axie remains a strong player in the blockchain gaming space. It is a great entry point for people who have never heard of cryptocurrency.
Stats show that Axie Infinity currently houses 568K daily users on Discord. And 450K active gamers playing each day.
As of July 2021, the revenue generated from Axie’s use of the DeFi protocol has grown considerably. Axie is comparable to other blockchain-based virtual worlds like Decentraland, SomniumSpace, and CryptoVoxels.
Also, due to the increasing popularity of Axies being scarce. It’s becoming more common for players to create high leverage positions within the game. By taking out loans from lending groups such as Yield Guild.
The vision for Yield Guild is to become an exchange for selling & buying NFTs. Not just digital assets on their platform (Axie, CryptoVoxel).
Axie’s founders identified and set out to remedy a fundamental flaw with Web2 gaming models. Projects such as Fortnite generate value with in-game assets.
But they’re generally rented from the platform and are not tradeable or freely tradable.
They can also take away these virtual items if an account is banned. It also limits the value that could come from healthy gaming communities and takes power away from users.
Because of this, Axie wants to give players complete control over their valuable in-game assets. By allowing them to exchange those assets through a completely transparent marketplace. That makes sure everyone who learns about it is guaranteed a fair trade.
That is why Axie aims to provide gamers with full sovereignty over their valuable in-game assets by allowing them to exchange those assets through a completely transparent marketplace that makes sure everyone who learns about it is guaranteed a fair trade.
What is Axie Infinity?
Sky Mavis built Axie Infinity, which was based on Pokemon. It is an innovative “play-to-earn” pet training game. The virtual world of the game is built on the Ethereum Blockchain. Players can collect, breed, battle, and trade in-game pets called Axies.
All in-game assets are represented by ERC-20 or ERC-721 tokens. Which can be traded on secondary markets.
The characters in Axie Infinity are called Axies. And are unique digital goods with unique abilities that make them special. The game is a mix of cards and an in-game battle system.
Players can have nine different kinds of Axies. Which fall into three categories: attack, health, and resource cards.
At the end of each Axie Battle, the player earns “SLP” (small love potion). which functions as the game’s experience points. Using SLPs, an ERC 20 token, players can breed their Axies to create more.
They can either use them for future battles or sell them for profit on the marketplace.
Each Axie has its unique genes and the ability to learn new skills through training. By breeding, users can make a digital child that is 50 percent like each parent.
For example, if you breed two “jack-of-all-trades” Axies, you’ll get an offspring that is good at a lot of things. Remember that you can breed axies for seven times max.
Players will need at least three Axie Monsters. To start battling other online players or the NPCs that inhabit their world.
If you’re a new player, you’ll have to buy Axies from the market. This is a good idea, since it’s best to start with low-level monsters in RPGs. Before moving on to epic battles with much stronger enemies.
How to Make Money Playing Axie Infinity?
Like any platform built on blockchain technology, Axie Infinity’s success relies on how many people use its resources. The developers claim that the game has generated over 13,000 ETH (16M+ USD) in revenue.
The business model of Axies follows the “play to earn” mantra, meaning each player gets rewarded for engaging with the game and the platform.
Currently, players can gain more resources to advance in the game by taking actions such as:
● Competing in Battles to win leaderboard prizes as well as Smooth Love Potions (SLP)
● Breeding Axies to produce new ones with particular Body Part combinations
● Speculating and collecting on rare Axies such as Mystics and Origins.
You can use in-game AXS (Axie Infinity Shards) tokens to buy digital goods and assets within the world of Axie Infinity.
Axie Infinity Economics
Players can turn their Axie into a “Axie Infinity creature”. Which is a digital creature they can sell, trade, or even breed with other players.
The Axie Infinity creatures can be sold to players who don’t have time to care for them. You can trade them for ETH, which you can then turn into real money on popular exchanges.
Like Binance, CoinDCX, and WazirX, or you can breed them with other Axies. To make new creatures that players are excited about.
AXS Tokenomics
AXS are governance tokens that can be used to play games in the Axie Infinity Universe. And through user-generated content projects.
Most of the value of the $AXS token comes from being able to vote on important governance issues. Like development opportunities, changes to the user experience, and so on.
Axie Infinity Non-Fungible Tokens (AXI) is identified and traceable game assets. With a fixed number you can use in Axie Infinity and other games built on the Axie platform.
The game rewards AXI holders with transaction fees if they hold their tokens and play the game. Especially staking them for special powers to gain in-game advantages.
You’ll also earn $AXI when you play games from and within the Axie Infinity Universe. And by contributing user-created content as well.
AXS and SLP Price analysis
Axie Infinity has two types of in-game currency. Small Love Potion (SPL) and a governance token, Axie Infinity Shard (AXS). SPL is used for trading Axies and can be converted into real-life money.
AXS will also give you a say in how games are made. And let you trade both currencies the same way you can trade coins like Ethereum or Bitcoin.
Like with other crypto-currencies, you’ll be able to buy Axies. Hold on to them in the hopes of selling off for profits later, or risk it all by investing.
Axie Infinity Land
Axie Infinity said that a player in their new game was able to buy a piece of digital land for 550 ETH. The deal for this piece of property was the biggest NFT transaction ever.
It was sold for this amount after the creator of Axie Infinity gave the public an ERC721 token sale. To buy land on the game. The amount surpasses the US$1.5 million deal for “nine plots” back in early February 2018 when it happened.
This transaction became the largest non-fungible token sale because it focused on buying unique assets.
It is notable considering the transaction came from within the game and not from outside of it. Which indicates that early adopters are starting to get invested in blockchain-based video games as a trend.
According to Axie Infinity, the total amount of funds paid for all three plots of the land went over US$3 million. The highest amount ever paid for the crypto property at any point in history.
Axie Infinity Roadmap: Past, present and future
Here is a roadmap and a detailed timeline to simplify the journey of Axie Infinity and how it came to be what it is today.
- December 2017: Sky Mavis started developing Axie Infinity
- February 2018: Origin Axie Presale begins — 900 ETH raised
- March 2018: In-House Axie-NFT Marketplace released
- May 2018: Breeding game released
- October 2018: Idle battle game released
- January 2019: Land Sale begins — 3200 ETH raised
- May 2019: In-House Land/item-NFT marketplace on ETH Layer 2 (Loom Network) released
- December 2019: Unified Land and Axie marketplace
- December 2019: Community alpha (card battle game) released
- May 2020: Mavis Hub released
- May 2020: All land in Quarter 1 sold-out — 4600+ ETH raised
- June 2020: Axie Infinity participates in Ubisoft Entrepreneurs Lab
- July 2020: Ronin Side Chain in test net
- August 2020: Land gameplay internal alpha
- October 2020: Public Token sale — distribution of 29,700,000 AXS.
- March 2021: Land/items migrated to Ronin Side Chain
- June 2021: Axies migrated to Ronin Side Chain
- September 2021: AXS staking enabled
- January 2022: Axie Infinity Ecosystem begins
Conclusion
Axie Infinity welcomes its players to a digital universe where the people can globally come together to play, earn, and live. Is it the start of a digitalization era? A true revolution? It is hard to tell right now.
But if you are not afraid to take a risk and are keen on new techs and gaming, why don’t you give it a try right now?
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