Developed by SkyMavis, Axie Infinity enables players to earn revenue from non-fungible cryptocurrencies (NFT) by breeding, fighting, and trading digital pets called Axies. More than one million users have signed up to play at Axie Infinity, and they can purchase land, equipment, feed, breeding, and drill for their Axies, who can then send them out to fight each other for real cryptocurrency.
The game revolves around cute furry creatures that players can breed, acquire, train and use to overcome challenges and battles online. The aim of the game is to acquire small love potions (SLPs) to breed new Axies that can be used in the game. These SLPs can double as cryptocurrencies and can be bought and sold on cryptocurrency exchanges.
Players earn SLP tokens through gameplay and can exchange them for money at a stock exchange. A variety of in-game resources are tokenized and tradable in the P2P market. This includes plots of land that users can customize with various elements.
Axie Infinity is developed with the Lunacia SDK, which can be used by players and developers to create additional in-game experiences with Axie Infinity artwork and assets. Mini-games are non-transferable and Axie will have no advertising fees or sponsorship work. In 2022, the game will expand its ecosystem control to include other elements of the land game that will be available to players in the first half of 2022.
Crypto-gaming is an interesting segment of the cryptocurrency industry, and NFTs are revolutionizing the concept of gambling facilities. As blockchain technology evolves and crypto platforms are able to host more complex games, we could see more pay-to-play coins like Axie. It remains to be seen if NFT-backed gambling companies can maintain a player base from, beginning with one in India, where the country is pushing for the creation of its own national cryptocurrency.
By creating its own marketplace on the NFT blockchain, trading in Axie Infinity and similar games is secure, meaning that the item in question belongs to the player. Players can sell in the Marketplace Axs (Axie Infinity Shards) and tokens (ETH) which can be converted into Fiat currency at popular exchanges such as Binance, CoinDCX, and Wazirx.
To start the game, you must purchase three Axies from the Axie Marketplace. Each of the Axies must be healthy and able to withstand high damages. You also have to take into account how often an Axie has been bred and how pure it is.
Starting with an advance of $1,200 can become a barrier for people who want to try the game. To overcome this, you will have to participate in the Malaysian Scholarship Program, where you will be provided three Axies to start the journey.
It is profitable for users to breed Axies and sell them on secondary markets to incentivize players to play the game. This earning potential has made blockchain-based gaming popular in developing countries. Cryptocurrencies are the most important daily income of the people in some of these areas. Vincent Gallarte, an IT employee from Manilla, earned 35,000 Pesos ($732) in the first two weeks of the game based on the money earned in-game.
Investors in the game’s cryptocurrency, the so-called Axie Infinity Shard (AXS), can take part in managing the gaming ecosystem through their shares in the municipal treasury. In the future, AXS owners will be able to vote on the game and its future development, as well as using AXS tokens as in-game rewards. The governance token from Axie Infinity is like cash, but unlike other governance tokens, it works like shares.