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AltcoinDecember 29, 2021

What Is Axie Infinity (AXS)?

Shubham Goyal
Product Specialist
December 29, 2021

Axie Infinity Shard, i.e., AXS, is a token built on Ethereum Blockchain with a massive supply of 270,000,000 coins. Axie Infinity token supports all the transactions on the Axie Infinity platform. Being a gaming token, the token can also be used in the marketplace too.

In its whitepaper, Axie Infinity refers to itself as a growing universe of games. With its play-to-earn feature, it has developed a loyal user base. What sets apart Axie Infinity from other gaming platforms is the use of NFT in the game. Axie is a combat gaming model where players can train their Axies for the fight and can even breed their Axies. The offspring of the breeding depends on the players’ race and rank. These Axies can be sold or exchanged in the Axie Infinity marketplace.

Axie Infinity has two prime gaming modes – Adventure mode and Arena Mode. Adventure mode allows players to fight and increase their ranks and level. Whereas the Arena mode lets players allow multiplayer fights with at least 3 Axies in the battle.

What is AXS (AXS Tokens)?

Axie Infinity is one of the most popular blockchain games with a global community. AXS is its ERC-20 governance token that allows players access to the Axie Universe. Holding AXS not only players with additional in-game perks but also lets them stake their Axie Infinity coin and earn rewards on staking. Along with rewards, a player also gets to participate in voting for the game’s development.

What Makes Axie Infinity Unique?

Lately, the gaming industry has been wild, and the innovations have been the fire catalyst. Axies are user-generated NFTs, where each Axie has its unique characteristics. Axie, unlike other crypto gaming projects, holds a strong community that holds a decent financial stake in the game. This results in the overall growth of Axie Infinity as a platform and not just the game.

Blending cryptocurrency with gaming brought a news wave of innovation in the market, and almost all the players are ready with the ski boards. Crypto rewards have given gaming a meaningful edge to the market that measures the seriousness of a profession with its capital returns.

One of the significant reasons behind Axie Infinity’s soaring popularity is the in-game breeding feature that lets players breed their own Axie as an NFT and sell them in the marketplace.

The Play-to-Earn Business Model

Players of Axie Infinity earn SLP i,e Small Love Potion after every game as a reward which can be used to buy or breed Axies. These Axies can either be exchanged for another in-game asset with other players or sole in return for fiat cash. This means players can earn rewards just by playing the game. This model is popularly known as the Play to Earn.

Here’s how it exactly works –

To participate in a battle, a player must own a minimum of 3 Axies. There are various ways a player can earn from, e.g. –

  • Win leaderboard prizes by competing in PVP battles.
  • Breeding Axies and selling them on the marketplace.
  • Collecting and speculating on rare Axies such as Mystics and Origins.
  • Farming for the love potions and selling them on cryptocurrency exchanges such as Uniswap and Binance.
  • Use in-game AXS / Axie Infinity tokens to buy digital goods and assets within the world of Axie Infinity.

Current Market Gaming Dynamics

The gaming companies are mass adopting blockchain, resulting in a paradigm shift in the gaming space. With more and more collectible in-game assets being built and big names collaborating to make these assets functional on multiple gaming platforms, the industry is headed towards a better and bigger future.

How To Get Started With Axie Infinity?

It is pretty easy to buy AXS and get started with Axie Infinity. To begin with –

  • A player will need an Ethereum wallet. So you can create a wallet if you don’t yet have one.
  • Once you make a wallet, you will need to fund the wallet with ETH.
  • Head to Axie Infinity and create an account on its marketplace.
  • You can use your Metamask wallet to log in to Axie Infinity directly.
  • You can install the Metamask extension to Google Chrome and make this process smoother.
  • Use the ETH funded in your wallet to purchase Axies from the Axie Infinity marketplace.
  • Note: You will need to have at least 3 Axies to start playing the game.

Conclusion

Axie Infinity has changed how the world looks at the gaming industry. By facilitating play to earn and enabling players to breed their own collectibles that can be used across an ever-growing gaming universe, Axie Infinity sure seems to have a long way to go!

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