Players and investors have been paying close attention to crypto games since early 2021. This is due to the fact that the profits on each token are steadily increasing.
One of the tokens that everyone is talking about when it comes to the number of users and rising revenues on the platform is AXS. It’s based on the “Play-To-Earn” paradigm, which allows people to earn money by playing games. More crucially, even individuals who are unfamiliar with blockchain technology can participate in this game.
Axie Infinity is a game inspired by pokemon. In the fictional world of Lunacia, there are creatures called Axies. You can collect them, trade them, breed them, and ultimately put them up in 3v3 battles against each other. Everything in the game is either an NFT or an ERC-20 Token which means you have true ownership of whatever you buy and collect. There are the Axies themselves, items, and land. One of the main reasons why this game became popular to begin with is because it is one of the first games to introduce play-to-earn, wherein gamers can make real money by actually playing the game or trading assets from the game.
Axie Infinity is a non-fungible token-based online video game developed by Vietnamese studio Sky Mavis, known for its in-game economy which uses Ethereum-based cryptocurrencies.
Players of Axie Infinity collect and mint NFTs which represent axolotl-inspired digital pets known as Axies. These creatures can be bred and battled with each other within the game. Sky Mavis charges a 4.25% fee to players when they trade Axies on its marketplace.
In September 2021, most Axie Infinity players were from the Philippines.
Axie Infinity is built on the Ronin Network, an Ethereum-linked sidechain developed by Sky Mavis. The game’s official Cryptocurrency is “Axie Infinity Shards/Token” or AXS for short. The game’s secondary token, SLP, crashed in February 2022 amid a wider NFT and cryptocurrency crash, losing over 99% of its peak value In March 2022, hackers compromised the Ronin Network, stealing approximately US$620 million worth of cryptocurrency from the project. The hackers were linked to Lazarus Group, funded by North Korea.
Axie Infinity is a universe filled with fierce, collectible creatures called Axies. Axie features a player-owned economy where players have complete ownership of their digital assets and can buy, sell, and trade them just like physical trading cards and collectibles.
The Axie universe is always expanding through new games and experiences. Many of these experiences will allow players to compete with each other using complex strategies and tactics to attain top rankings or be rewarded with coveted resources. Others will have them complete quests, defeat bosses, and unlock in-depth storylines.
The number of Axie combination is almost infinite. Each Axie has a variety of parts based on a unique genetic code. These genes correspond to body parts which can be interpreted in different ways by different experiences. For example, the first generation of Axie games have all featured systems where Axies can play cards or use moves in battle determined by their body parts.
All art assets and Axie genetic data can be easily accessed by 3rd parties, allowing community developers to build their own tools and experiences in the Axie Infinity universe. While still in early access, Axie is ranked the #1 Ethereum game by daily, weekly, and monthly active users. Players have spent over 1M ETH (4B+ USD) so far in the Axie universe.
While Axie is a fun game, it’s also taken on characteristics of a social network and earning platform due to the strong community and opportunity to truly own resources earned within the games.
A key difference between Axie and a traditional game is that Blockchain economic design unlocks the ability to have complex player-owned economies and reward players who are able to reach advanced levels of skill. Players are able to have fun and work towards ambitious goals while simultaneously earning potential resources that will have real monetary value due to an open economic system and demand from other players – “Play-and-Earn”.
Currently, players can gain more resources to advance in the game by:
In early July, the game reached over 100 million USD in weekly sales volume, bringing this game to a multi-billion dollar annual run rate if this trend continues. Daily active users went from 38,000 to 350,000 in just about 3 months which makes it the most used app in crypto. $AXS which is the governance token that is used behind the project is up 246% in the last two months alone. Investors that got in the game early are now rich beyond their expectations. But there is still an insane amount of money being made by new people entering the game today.
Ways to Earn:
Axie Infinity Shard is the abbreviation for Axie Infinity Shard. It is an Ethereum Blockchain-based ERC-20 token with a maximum quantity of 270,000,000 AXS tokens. AXS was built specifically for Axie Infinity’s platform. Players may also sell their Axies and trade their islands or any other things in the game on the NFT marketplace. Holders of AXS tokens will have a voting right in the game’s development. They may also stake their tokens to get regular payouts and pay for anything on the site using AXS currency, such as Axies on the Marketplace. As a result, the rapid rise of AXS tokens is contingent on the success of Axie Infinity’s platform.
The AXS price rose rapidly in the summer of 2021 and surged again at the start of October 2021, when Axie Infinity’s creators announced that they had distributed 800,000 AXS tokens to users who had played the game before Oct. 26, 2020. Those tokens were worth more than $60 million at the time.
Also in early October 2021, Sky Mavis announced that it had raised $152 million in a Series B funding round that was led by venture capital firm Andreessen Horowitz at a valuation of $3 billion. The company also introduced a staking function for AXS that gave users the ability to earn yield and gain governance voting rights by locking up their tokens.
As of January 2022, the all-time high AXS price was $164.90, recorded in early November 2021. It started 2021 at less than $1. AXS supply is capped at 270 million. Player rewards will account for 20% of the supply and staking rewards for 29%, while the creators of the game at Sky Mavis will be gradually allocated around 20% over a period of years. The rest has been distributed in public and private sales or is being held in reserve for developing the Axie Infinity ecosystem.
AXS is hosted on the Ethereum blockchain and has its own sidechain named Ronin to avoid creating congestion issues on the main blockchain. Its use case is built around the Axie Infinity game that Sky Mavis describes as an open-ended digital pet universe. Players earn AXS in the game and use it to acquire in-game assets, stake to participate in governance or sell in external markets. The AXS token economy was designed by cryptocurrency research firm Delphi Digital.
The game revolves around collecting pets called “axies,” represented by non-fungible tokens (NFTs), and “breeding” the pets to make new ones with characteristics derived from the parents. Trading and breeding the NFTs incurs fees in the form of the AXS tokens and another in-game blockchain token called smooth love potions (SLP), which can be traded for fiat currency.
Players pit their pets against other players in battles. The company says it is skill-based, making it “good fit for competitive play and esports.” The virtual setting of Lunacia consists of “land” resources, also represented by tradable NFTs.
The company claims that “Axie is already the largest community of people who understand how to use blockchain technology in the world.” It also says that players have collectively spent more than 1 million Ethereum tokens to advance in the game, equivalent to a value of more than $3 billion.
Axie Infinity launched long before the NFT industry’s massive bull run in 2021: in March 2018. Before Sky Mavis turned into the crypto giant it is today, the game started out as an idea from Vietnamese developer Trung Nguyen.
When did AXIE origins start?
Axie Infinity: Origin will be officially released on April 7th, 2022 via Mavis Hub.
Is Axie Infinity still alive?
By spring 2022, the bottom had fallen out of the crypto market, making playing the game nearly worthless. While Axie Infinity boasted over 2.7 million daily active users last November, only 760,000 are still active, according to one tracker.
Is Axie Infinity Filipino?
Created by Vietnamese studio SkyMavis, Axie Infinity became a phenomenon in 2021, with a large majority of its player base hailing from the Philippines. Once a game that was big enough to have investment managers connected to it, things went south once the game was hacked and US$600 million was stolen.
Who is the CEO of Sky Mavis?
Sky Mavis’s current Founder, Chief Operating Officer is Aleksander Leonard Larsen.
How did AXIE become popular?
The thing that attracts people to the game is its earning potential. In July 2021, Axie Infinity generated more fees than Bitcoin or Ethereum in seven days. The game is popular in developing countries that use it to earn revenue after being displayed by COVID-19.
Is AXIE a cryptocurrency?
There are two special cryptocurrencies used in the game: The main token, Axie Infinity Shards (AXS), can be bought and sold on exchanges like Coinbase. You need some AXS to play the game, but you can also trade AXS like Bitcoin or Dogecoin or any other major crypto.
Is Axie shutting down?
Axie Infinity was showing signs of decline even before the data breach and Bloomberg highlighted the issue in a report as well. Axie Infinity received its Origin update and Sky Mavis continues to support the game. As a game, it is unlikely that Axie Infinity will die out anytime soon.
What country is Axie Infinity popular?
Full stats are below, but the game is viral in the Philippines, where the game’s cryptocurrency is the primary daily income for many people in the country. This “earn and play” game is where cryptocurrency moves beyond speculation into real-world use. More About Axie Infinity.
Why is Axie Infinity a NFT?
An NFT is a blockchain token that serves as a proof of ownership for an item. In the case of Axie Infinity, NFTs represent things like unique Axie monsters that users bring into battle, as well as virtual land plots that players can customize and monetize in the future.
The game is best characterized as a cross between Pokémon, a popular role-playing video game, and Hearthstone, a digital collecting card game. In appearance, the gameplay is rather straightforward: it entails battling and reproducing Pokémon-like playable monster creatures known as Axies.
Axie, on the other hand, may be played in four different ways. One method is to breed Axies and then sell them to other players on a marketplace. The other way is to complete in-game tasks and fight other players in PvP (player-versus-player) fights. Players may also put their Axies, which they have bred and grown, to the test in-game.
The game’s graphical user interface and general appearance and feel are rather simplistic. However, the play-to-earn feature makes it an appealing game title. Players may earn the Ethereum-based tokens AXS and SLP by fighting or breeding Axies, which can then be exchanged into Ether and utilised as real-world money.
One of the key features and, as a result, one of the main advantages of Axie Infinity is that Axies are non-fungible tokens or NFTs. To begin, an NFT is a type of digital asset that can be bought, sold, and exchanged. Many people have made money by generating, selling, and exchanging digital material based on NFT.
NFT minting, which uses blockchain technology, has tokenized memes and video snippets, as well as music, digital collectable cards, and even papers. When a player possesses numerous Axies, though, he or she is effectively owning a collection of digital goods with monetary worth. These Axies can be bought and sold on the open market.
The game is set up as an open-ended digital pet environment, according to Sky Mavis. This signifies that the game’s gameplay and features will be expanded in the future by the developers. With Axie at the heart, there is a clear aim to establish an immersive digital ecosystem based on blockchain technology and cryptocurrencies.
Furthermore, the game is rather difficult. Players can pick from three distinct roles in the Philippines, where it has attracted hundreds of thousands of players since 2021: “manager” who curates Axies, “scholar” who plays the Axies of multiple “managers,” and finally, “breeder” who breeds and sells Axies.
The developments in the Philippines are proof of the game’s open-ended structure. These “managers” have discovered a way to boost their earnings by renting Axies NFTs to other gamers, allowing these “scholars” to make money.
Axie Infinity also has the benefit of being compatible with most desktop and mobile operating systems. It operates on Microsoft Windows, Apple’s macOS, Android, iOS and iPadOS, to name a few. It can be installed and played on PCs, Macs, Android smartphones and tablets, as well as iPhones and iPads.
This video game’s cross-platform blockchain interoperability makes it accessible to a wide range of people, allowing it to draw more players and extend future growth possibilities, as well as allowing the involved digital ecosystem and blockchain economy to be sustained and expanded further.
It’s also worth mentioning that it doesn’t necessitate flagship or top-of-the-line gear. The programme can run efficiently on a low-resource machine. It can, for example, run on up to five-year-old mid-range Android smartphones as well as the most recent entry-level and inexpensive Android handsets on the market.
Keep in mind that this is a play-to-earn video game based on NFTs. Although participants can not get traditional fiat money, they do receive Ethereum-based tokens called AXSs and SLPs, which can be turned into Ether, one of the world’s most well-known cryptocurrencies. They may either get their Ether turned into money or utilise it right away.
Several players have amassed significant wealth as a result of their participation in this game. Numerous success stories have been featured in the media in different rural areas of the Philippines, for example. These range from a player who was able to provide for his family’s basic necessities during the epidemic to another who was able to purchase a house and land.
Another advantage of Axie is that it allows ordinary people to comprehend how blockchains and cryptocurrencies function, specifically how the blockchain economy works. Axies may also be exchanged for cryptocurrency, and sponsored players can receive allowances from NFT owners because they are NFTs.
In a nutshell, AXS is a token designed to be used on the Axie Infinity platform. AXS token holders may vote, stake, and pay for any product using their tokens. But what’s intriguing about this AXS is that, based on the number of users and overall income, the platform is expected to increase.
After analyzing the positive aspects that Axie Infinity has, it is also standard to analyze its negative points to achieve an unbiased balance. Let’s get to know and detail each of them.
On this point we have no objections, the initial investment required to play Axie Infinity is tremendously high. At its best, the game required as much as 1600-2000$ to buy your first 3 good quality Axies that pay off. Depending on the timing of the market and how good your Axies are, the price will vary up or down.
And we make this clear to you, if you want to get to compete in Axie Infinity in the arena, don’t buy cheap Axies. It is a common mistake to fall into the rush and buy the 3 cheapest Axies we find; big mistake. Their combination of cards and stats may not be the best in their role or in comparison to the competition we will find.
This is something we are all going to agree on, to begin to playing the adventure mode may not be the most fun in the world. We can fall into the monotony of having to repeat over and over again the same level in search of experience to be able to complete those that are further ahead. But of course, it will give us an economic benefit, in exchange for a good part of our time.
Trung Nguyen co-founded Sky Mavis, the game’s developer and publisher, in 2018. “Blockchain gaming” was virtually unheard of until Axie Infinity. While not an initial success, but over the summer months of 2021, the player base suddenly boomed to over a million users per month, and by October that year, Sky Mavis hit a valuation of around $3 billion in a funding round led by Silicon Valley venture capital firm Andreessen Horowitz. That popularity was partly down to chance: it coincided with exuberance in cryptocurrency markets and a boom in nonfungible tokens, or NFTs, and locked-down populations looking for new income streams. A whole ecosystem has sprung up around the game, from companies that invest in producing the Axies themselves to “guilds” that sponsor players to take part in the game. More blockchain games have entered the scene
after Axie Infinity’s success, and venture capital money has followed.
According to reports, Trung Nguyen is a highly talented programmer, and the game’s main engineer. While his art director collaborator Masamune aka Tu Doan, initially came up with visual game elements, Nguyen took charge of its in-game economy and architecture.
“Nguyen is allergic to distraction and believes in division of labor, which is why Sky Mavis has five co-founders,” wrote Leah Callon-Butler, a CoinDesk columnist. “Energetic” ex-banker Jeffrey Zirlin is charged with community-building, and “buttoned-down” Aleksander Larsen leads fundraising and investor relations, while Nguyen, Masamune, and Chief Technology Officer Viet Anh Ho handle internal operations in Vietnam, she said.
With a highly publicized $600 million hack of the company’s Ronin sidechain, shrinking player numbers and volatility in the in-game token, Nguyen and the Axie team are working to retool the game’s inner workings, aiming to stabilize it beyond the boom.
Axie Infinity has amazing potential over the next few years as acceptance for cryptocurrency increases. Our market forecast indicates that by 2030, AXS could reach a new all-time high of $66.73.
Although it has its positive and negative parts, we should not discredit what Sky Mavies has done. They have created a video game that allows make money to its users based on NFT tokens, giving a great innovation in the market. Nothing is perfect, least of all video games, the work so far outweighs the positive before the negative and this leaves a very good taste in the mouth.
source: restofworld.org – analyticssteps.com – en.wikipedia.org – coindesk.com
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