Axie Infinity is a groundbreaking blockchain-based game that has revolutionized the gaming industry by introducing the concept of play-to-earn.
In this comprehensive guide, we will explore the fundamentals of Axie Infinity, its unique gameplay mechanics, the play-to-earn model that allows players to generate real-world income.
Get ready to dive into the world of Axie Infinity, where virtual pets, battles, and decentralized economies come together in an immersive gaming experience.
What is Axie Infinity?
Axie Infinity is a blockchain-based decentralized application (dApp) that combines elements of gaming and blockchain technology. It is built on the Ronin network, an Ethereum-linked sidechain developed by Sky Mavis.
It allows players to own and trade virtual creatures called “Axies.” Players get to collect, breed, raise, battle, and trade Axies (Pokémon-inspired characters).
In Axie Infinity, players can assemble a team of Axies with unique traits and abilities, and then engage in turn-based battles against other players. By winning battles and completing quests, players can earn in-game tokens called “Smooth Love Potions” (SLP) and “Axie Infinity Shards” (AXS).
What sets Axie Infinity apart is its play-to-earn (P2E) model, which allows players to generate real-world income.
P2E is a business model where users can play a game and earn cryptocurrency while doing it. It is a powerful concept that combines two critical drivers of human beings — money and entertainment.
By participating in the game, players create value for other players and developers in the ecosystem. In return, they receive potentially appreciating in-game assets such as playable characters, skin, tools, and cryptocurrencies.
By playing the game, players can earn SLP, which can be converted into cryptocurrency and traded on various exchanges. This has attracted a large and dedicated player base, particularly in countries with limited economic opportunities.
Additionally, the game’s native governance token, AXS, gives players voting rights and the ability to participate in the game’s development decisions. AXS holders can also earn rewards by staking their tokens.
Fun Fact: When the COVID-19 pandemic hit 2020 in the Philippines, people in Manila played Axie Infinity to ease their economic hardships during the lockdown.
What’s so special about Axie Infinity?
Axie Infinity stands out for several reasons, making it an innovative project,
1. Play-to-Earn (P2E) Model
The gaming industry witnessed many trends, from first-person shooters (FPS) to multiplayer online battle arena (MOBA) games.
The play-to-earn gaming (P2E) model is a new addition to the list, and it’s made possible through the increased adoption of cryptocurrency. Axie Infinity pioneered the P2E concept, allowing players to generate real-world income by playing the game.
Through battling, completing quests, and earning in-game tokens like Smooth Love Potions (SLP), players can convert their efforts into cryptocurrency and trade it on exchanges. This has opened up new economic opportunities, especially in regions with limited job prospects.
2. Ownership
Axie Infinity utilizes blockchain technology, specifically the Ethereum blockchain, to ensure true ownership of in-game assets.
Players have full control and can freely trade their Axies and in-game items. The transparency and security offered by blockchain technology prevent fraudulent activities and provide a trustworthy environment.
3. NFTs and Virtual Economies
Axie Infinity leverages non-fungible tokens (NFTs) to represent unique and provably scarce digital assets.
Each Axie and item in the game is an NFT, allowing players to buy, sell, and trade them in a vibrant marketplace. This has sparked a wider conversation about the value of virtual assets and the potential of blockchain in gaming and virtual economies.
4. Community and Governance
Axie Infinity boasts a passionate and engaged community.
Players hold the native governance token, Axie Infinity Shards (AXS), which grants them voting rights and influence over the game’s development. This community-driven approach empowers players to shape the game’s future and participate in decision-making processes.
How Does Axie Infinity Work?
Axie Infinity utilizes smart contracts to govern its gameplay and economy.
Here’s a simplified overview of how Axie Infinity works,
1. Acquiring Axies
Players can acquire Axies through various means, such as purchasing them from the marketplace or breeding them.
Axies have different traits and abilities, which can affect their performance in battles.
2. Gameplay
Players form teams of three Axies and engage in turn-based battles against other players or non-player characters (NPCs).
Battles involve strategic decision-making, considering Axies’ abilities, energy management, and synergy between team members.
3. Earning Rewards
By winning battles and completing quests, players earn in-game tokens called Smooth Love Potions (SLP) and Axie Infinity Shards (AXS).
- SLP can be converted into cryptocurrency and traded on exchanges, providing real-world value to players.
- AXS is the game’s governance token, allowing holders to participate in the game’s decision-making and earn rewards through staking.
4. Breeding and Rarity
Axies can be bred together using a process that consumes resources and yields offspring with traits inherited from their parents.
Certain combinations can produce rarer and more valuable Axies, which can be sold or used in battles.
5. Marketplace
Axies and in-game items can be traded on the Axie Infinity marketplace. Players can buy, sell, or auction their Axies, allowing for a thriving secondary market.
Where can you buy AXS Tokens?
AXS tokens, the native token of Axie Infinity, can be purchased from various cryptocurrency exchanges and platforms.
Here are some popular options where you can buy AXS,
1. Cryptocurrency Exchanges
AXS is listed on several reputable exchanges, including Binance, Coinbase, FTX, KuCoin, and Binance.us.
Step 1: Create an account on any of these exchanges.
Step 2: Complete the necessary verification steps, and deposit funds (such as Bitcoin or Ethereum) into your account.
Step 3: Then, you can search for AXS and place a buy order to acquire the tokens.
2. Decentralized Exchanges (DEXs)
DEXs like Uniswap and Sushiswap also offer AXS trading. These exchanges operate on decentralized protocols and allow you to trade directly from your crypto wallet.
Step 1: To buy AXS on a DEX, connect your compatible wallet (such as MetaMask) to the exchange.
Step 2: Ensure you have the required Ethereum (ETH) or other tokens.
Step 3: Execute a trade for AXS.
3. Axie Infinity Marketplace
Axie Infinity has its own marketplace where players can buy and sell Axies, in-game items, and AXS tokens.
Step 1: Visit the marketplace on the Axie Infinity website and browse the available AXS listings.
Step 2: Ensure you have a compatible cryptocurrency wallet connected to the marketplace to facilitate the purchase.
Conclusion
The play-to-earn model has opened up new economic opportunities, allowing players to generate real-world income through their in-game efforts.
As of writing this post, the global cryptocurrency market capitalization stands at 1.12 Trillion USD, and the market cap of cryptos and tokens used for Play-to-Earn gaming is around 5 Billion USD.
As the model continues to evolve, Axie Infinity stands at the forefront of a new era in gaming, reshaping how we perceive the value of virtual assets.
FAQs
1. How do players earn cryptocurrency rewards in Axie Infinity?
Players in Axie Infinity earn cryptocurrency rewards through gameplay.
By winning battles, completing quests, and earning in-game tokens like Smooth Love Potions (SLP), players can convert these tokens into cryptocurrency, such as Ethereum (ETH), which can be traded on exchanges for real-world value.
2. Can Axies be bought, sold, or traded outside the game?
Yes, Axies can be bought, sold, and traded outside the game.
Axie Infinity has its own marketplace where players can list their Axies for sale.
Players can also utilize third-party platforms and exchanges to buy, sell, and trade Axies. These transactions often involve the transfer of ownership using blockchain technology and can have real-world value.
