Over the past few years, the blockchain has appeared as one of the most important factors for increasing the number of previously leveraged assets. By adding tangible assets to the blockchain, users have been able to create wealth in new ways.
According to Pew Research, online games have also grown significantly in recent years, with more than a third of teens playing video games at least once a week. The model which was used in previous years has changed a lot in recent years, now it allows players to download the game for free but have the option to pay for in-game features and subscription services.
What if I tell you that by playing games online you can get money in the form of cryptocurrencies. The name of the game is Axie Infinity. So let’s know more about it in detail about it.
Founded by Sky Mavis and inspired by Pokemon, Axie Infinity is a game that can additionally benefit "the game of training pets and the virtual world made on ETHEREUM BLOCKCHAIN. Players can assemble, multiply, fight, and trade among pets called Axies.
Axie Infinity started in 2018 as a traditional online game but became famous with the addition of the AXS token to the Axie ecosystem in November 2020. The AXS token was started with the motive of allowing players to be paid when they win battles and tournaments at their stadium in the traditional AXS token and the SLP token. Axie InfinityShards (AXS) are the governance tokens at the back of the Axie Infinity platform, while Smooth Love Potions (SLP) are the utility tokens.
Axie Infinity is different from the regular game because it uses blockchain compensation to reward players economically for their contributions to the ecosystem.
Game-making started a whole new world and created many job opportunities and provided a new direction in information technology. The reason to develop the Axie Infinity game is entertainment and to give users a new experience and make them enthusiastic about the game. By breeding axes and trading them in the market, users and players have increased their chances of making money in the market. Players can exchange their AXS tokens for ETH, as well as ETH for hard cash because Axie’s financial resources are not Fiat money.
Axie Infinity is a community-based digital game that allows players to earn money while fighting, breeding, raising, and trading digital pets called Axies. Axie's combination of factors determines its winning values and, ultimately, returns to investment. Axie Infinity is the first of its kind for a live game. P2E allows for an open economy within a game that offers financial benefits to players.
· Also, it costs money to get started:
You need to buy 3 Axies at starting of the game and the minimum investment needed is $600.
· By participating in the game, players earn AXS and SLP tokens by:
Participating in battles and challenges (earn SLP)
Breeding and selling Axies (earn ETH/fiat/AXS)
AXS Staking (gain AXS)
1. Axie Infinity Shards (AXS)
Playing in the midst of Axie Infinity's growing popularity among players and its growing benefits has helped AXS become one of the most successful digital assets by 2021.
The main uses and features of the AXS token are:
a. Payment- AXS is approved as a currency within the Axie NFT market (buy and sell Axies and paying trading fees) and holding AXS may be required for other auction-initiated auctions.
b. Staking: Players can lock their tokens in the crypto protocol. If they do, they will receive weekly awards, under an opening period of 12 months. In the future, users may receive NFT awards or vote for parts of the Department of Public Finance to be distributed to stakeholders.
c. [Future] Governance: The Department of Public Finance started live in early 2021 and collects revenue. In the future, this treasury will be governed by AXS stakeholders if the network is severely fragmented.
2. Smooth Love Potions (SLP)
· Found within the game, it is needed to raise new pets and participate in Axie Infinity events and competitions.
· Unlike AXS it does not have an initial share. 100% of existing SLP is also available and always available in-game. They are also burned whenever Axie is made. And each Axie needs more SLPs each time it multiplies (until it reaches its highest limit up to seven repetitions).
· The SLP value corresponds to the number of breeds that occur in the game. Breeding happens most → the SLP value is high and vice versa.
Sales volume of Axie Infinity NFTs on Ronnin chain has fallen to low levels, with a drop of more than 70% user activity.
Axie Infinity NFT market trade tops US$1B as player numbers surge
Crypto Game Axie Infinity Has Generated $84.9M in One Month
Axie Infinity, Icon (ICX), and Ark starts rising led by NFTs gaining importance.
The major timelines of Axie Infinity for the year 2022 are:
· Land Gameplay Community Alpha
· $AXS ecosystem begins
-Play to Earn
-Mainstream release of Axie Infinity on iOS/Android
· Land Gameplay
· Lunacia SDK Alpha
There is no doubt that what Sky Mavis has achieved with Axie Infinity 3 years ago is amazing. Not only has the game successfully pioneered the gaming movement to earn money (it provides revenue for thousands of experts), but it has also created a huge amount in this process.
All in all, Axie Infinity is assured to continue expanding its user base further due to the high incentives that come with playing the game and the growing fan base.