Axie Infinity (AXS) is a play-to-earn cryptocurrency ecosystem and gaming network. The platform enables users to earn AXS by playing various games within the Axie Infinity Universe and through user-generated content initiatives. Players can earn rewards by collecting, trading, battling, raising, and mating digital assets called Axies.
Notably, Axie Infinity is extremely popular at this time. The network ranks #1 in terms of daily, weekly, and active users. Notably, Axie Infinity registers 250,000 daily active players. Impressively, the game has generated over 13,000 ETH in revenue. Additionally, the network serves a vital role in providing a fun and educational way to introduce the world to blockchain technology.
History of Axie Infinity (AXS)
Axie Infinity entered the market in 2018. The firm is registered as a for-profit company out of Vietnam. Since its launch, Axie Infinity has seen impressive adoption. The platform features a massive gaming community and an equally large social media presence.
What Problems Does Axie Infinity (AXS) Attempt to Fix?
The technical structure of Axie Infinity enables the platform to alleviate many concerns faced by gamers and NFT collectors alike. The network provides users with a viable way to unlock value from the game sphere. In the traditional gaming market, users invest both time and money into digital assets, yet they never really own these items. Axie Infinity shifts the paradigm and puts real ownership back where it belongs – in the hands of gamers.
Benefits of Axie Infinity (AXS)
There are lots of benefits users gain when they participate in the Axie Infinity ecosystem. For one, the blockchain-based trading and battling game is very entertaining. You can spend hours exploring, battling, and collecting valuable NFTs (non-fungible tokens). These tokens range in value based on their scarcity and usability in the game.
Expandable
Another major advantage of the Axie Infinity universe is its open-source nature. The developers behind the concept encourage other community members to create tools to better the overall user experience. In this way, the platform takes a forward-looking stance.
Re-circulating Fee
One of the biggest benefits Axie Infinity users gain is profits. Notably, 95% of its revenue goes back to the players. Specifically, Axie takes a 4.25% fee for buying and selling Axie NFTs. Users also pay a small fee when they breed their Axies.
Passive Rewards
The ROI potential of Axie Infinity has caused the network to operate as a jobs platform for some regions of the world. Users are earning sustainable rewards through gameplay. The Covid-19 pandemic helped drive this income-seeking sector of the market to new heights. Today, there are full-time gamers earning steady ROIs on the network.
How Does Axie Infinity (AXS) Work
Axie Infinity is a Pokémon-inspired universe that combines some popular aspects from games like Cryptokitties and more. Users breed their Axies to develop particular skills and admirable traits. They can then take their specially Axies and complete quests to earn energy.
Axies
Axies are the digital creatures that roam the universe. They can breed and pass down their unique traits. Notably, each Axie can only breed up to seven times before they go sterile. This strategy ensures that there are never too many similar versions of these digital assets in existance.
Battles
Users can battle each other to earn rewards as well. You can breed, raise, and then compete in PVP battles to win leaderboard prizes. These prizes can range from collectible NFTs, prizes, and tokens. The more battle you win, the more valuable your Axie becomes in the ecosystem. Top the leaderboard and your champion Axie will hold value above the competition.
Breeding Axies
One of the core components of the platform is the breeding aspect. This feature is similar to Cryptokitties in that each Axie has a DNA code that holds their individual traits. Users can breed and sell their Axies on the marketplace to secure rewards easily.
Collect
Collectors gain a lot of advantages using Axie Infinity. The self-sterilizing features of the market help to improve scarcity. This improved scarcity allows traders to speculate on super-rare Axies. Also, you can easily cash out your Axies using popular DEXs like Uniswap.
Smooth Love Potion (SLP)
Smooth Love Potion (SLP) is an additional crypto used to buy land, farm, or breed Axies in Lunacia. Notably, you must farm love potions to breed Axies. You can also trade this token on a variety of popular DEXs and CEXs such as Uniswap and Binance.
Staking
You don’t have to be a gaming master to secure rewards in the Axie Infinity network. Anyone can claim rewards by staking their AXS tokens. Staking provides a consistent payout and is far less labor-intensive than trading for new users. As such, most new users prefer staking over trading their crypto. Best of all, you retain ownership over your digital assets when you stake.
Axie Infinity Shards (AXS)
AXS is the primary utility and governance token of the network. This ERC-20 governance token can be earned through a variety of tasks. You can earn AXS when you play games or participate in content creation campaigns. AXS is traded on multiple exchanges including SushiSwap and Uniswap.
Bottom Line
Axie Infinity is a perfect example of how NFT gaming can benefit all parties. Developers see more interactions and profits. At the same time, users gain higher ROI potential with less risk. For these reasons, it’s safe to assume Axie Infinity will remain a pioneering force in the market fr the foreseeable future.
