What is Axie Infinity (AXS)?
Axie Infinity is a blockchain-based pay-to-play-to-earn game that is partially owned and operated by its players. Pay-to-play-to-earn (or pay-to-earn) is a gaming model in which players pay an upfront cost to be able to play the game. In turn, playing the game allows the player to earn two Ethereum-based in-game currencies: Axie Infinity Shards (AXS) and Smooth Love Potion (SLP). The game focuses on the breeding and battling of axies which are NFT creatures with unique attributes. Axie Infinity is by far the most popular blockchain-based gaming platform, surpassing 1 million daily active players in November 2021.
What makes it unique?
Users pay an upfront cost to unlock axies which they can then battle, breed, and exchange on an NFT marketplace;
Each axie is made up of 6 body parts that vary in rarity from common, rare, ultra-rare, and legendary. Each body part has unique attributes and moves;
The variety of combinations axies can form is massive, allowing for potentially very rare, unique, and powerful creatures;
Players can breed their axie a maximum of 7 times to control the population of axies in-game. Breeding axies have a cost of 0.005 ETH as well as some SLP tokens;
Players cover the upfront cost of acquiring 3 axies to be able to play, this will cost somewhere between $800-$1,000;
Players can earn around $10-15 dollars per day from playing the game, covering the initial cost of entry in about 50 to 80 days of gameplay.
Axie Infinity has become a massive gaming platform that is on the road to surpassing a total of $15B earned revenue by March 2022. Players earn AXS in-game which they can stake for passive income, use as payment in the NFT marketplace or participate in governance procedures. There is a total supply of 270,000,000 AXS, of which around 61,000,000 is in circulation. Around 40% of daily active users are in countries with developing economies, like the Philippines. Axie Infinity has provided a source of income for millions of people during the pandemic.