Key Questions Answered
Blockchain-based games can disrupt the gaming industry by targeting issues of ambiguity and centralization. The technology allows game developers to connect in-game items to the blockchain, thereby providing gamers with unique ownership and preventing account theft. As online communities grow increasingly more interested in blockchain gaming, developers are taking the opportunity to offer more than just a fun experience. They also want to give players income earning potential.
The most successful blockchain-based game to date is Axie Infinity, which allows users to earn crypto income while playing and hold in-game items as NFTs. The project has recently achieved $1 billion in all time platform trading volume.
What is Axie Infinity?
Developed in 2018 by Sky Mavis, Axie Infinity is a Pokemon-inspired, NFT-based gaming platform where users can earn tokens through gameplay and contributions to the ecosystem. Game mechanics primarily revolve around battling, collecting, and raising digital pets called Axies. These Axies are designed as non-fungible tokens, so each one has its own unique value in the game and cannot be directly replaced by any other Axie. In order to join the game, new players must buy or borrow at least three Axies. Individual Axie prices currently range from $70 to over $100,000 in price, with some of the rarest ones being listed for 5,000 ETH.
Axie Infinity is currently ranked as the #1 game on the Ethereum blockchain based on the number of active users. The game has generated over 90,000+ ETH to date with monthly trading volumes of $170 million. Moreover, due to its ability to reward users in cryptocurrency, Axie Infinity has even taken on characteristics of a social network and jobs platform.
Axie Infinity gameplay (source)
What is an Axie – The Cute Little NFT
An Axie is a pet-like creature that gamers can collect, raise, and battle inside the Axie universe. Each Axie harbors different characteristics which define its role in the game. They all share four core attributes: Health, Morale, Skill, and Speed. These attributes are important during battles because they determine the damage levels that each Axie can endure or dish out.
Axies are also categorized by class. There are six normal classes (aquatic, beast, bird, bug, plant, or reptile) as well as three secret ones (dawn, dusk, mech). Just like in Pokemon, certain classes are more effective in battle against others. An Axie’s class also holds some impact on its four attributes.
Furthermore, each Axie is made up of six body parts – back, ears, mouth, horns, eyes, and tail. Besides influencing the visuals, many of these parts have battle abilities associated with them, so they also factor into gameplay.
Each Axie has a class and six body parts that influence its attributes (source)
What You Can Do on Axie Infinity?
Axie offers an immersive gaming experience while enabling players to earn through different in-gaming activities. Currently a player can interact with the game in the following ways:
- Battling: The battling systemis the first protocol released by the Axie team. System mechanics were inspired by games like “Idle Heroes” and “Final Fantasy Tactics.” It is a turn-based card game system in which players must strategically evaluate which Axies and moves to use in order to come out on top. Experienced players should be mindful of Axies class and attributes when calculating actions to take during their turn. Winning battles against other players will grant rewards such as SLPs (Smooth Love Potions), which are ERC-20 tokens used to breed new Axies.
- Breeding: Axie Infinity allows gamers to breed their in-game pets to create new offspring. This way, the Axie population will continue to evolve much like animals in nature. Players can either breed two of their own Axies together or pay for a date with another player’s Axie. Breeding requires the player to spend the native token of Axie Infinity called AXS, as well as some SLPs. Each time an Axie is used to breed, the cost to breed that same Axie doubles. Additionally, one Axie can only be used to breed up to seven times.
- Land Plots: The game takes place in a fantasy location called Lunacia. The in-game world is divided into tokenized plots of lands that can be upgraded using different resources available in the game. As of now, Lunacia consists of 90,601 plots of land, each representing a non-fungible token that can be traded by players with each other. The platform is also developing a Lunacia SDK, which is a map editor that will allow users to create new in-game experiences.
Two Axies can breed to create new digital pets (source)
How do you make money on Axie Infinity?
The AXS token – the Governance token Fueling Axie Universe
Short for Axie Infinity Shards, AXS is an ERC-20 token built solely to align the incentives between the Axie Infinity developers and players. Users can win AXS by playing various games within the Axie Infinity ecosystem and submitting user-generated content to sponsored initiatives. AXS can be used to participate in key governance votes.
Moreover, token holders can stake AXS to receive both a staking and treasury yield. The token is developed in partnership with Delphi Digital, and here is a quick guide explaining the rewards stakers can expect.
What is the Future of Axie Infinity?
With Axie Infinity’s recent surge in popularity, the value of AXS tokens has risen nearly tenfold compared to three months ago. It is now the largest gaming-associated cryptocurrency in the world.
Axie Infinity has paved the way for blockchain adoption in the gaming industry. Doing so would increase transparency, decentralization, and player ownership. Since the platform has introduced real-time earnings to gaming, some players have made the game their full-time job. In the Philippines where the game is extremely popular, some players claim to have used proceeds earned from playing Axies Infinity to buy real-world land and houses. However, the game is still in its early stage and most of the AXS tokens remain in the hands of the developer team. As Axie Infinity gradually evolves into a more decentralized, community-driven platform through the distribution of AXS, its global popularity may increase even more.