What is Axie Infinity (AXS)?

Axie Infinity is a blockchain-based game that combines elements of play-to-earn and NFT-based gameplay. Launched in 2018, it allows players to collect, breed, and battle fantasy creatures called Axies, earning cryptocurrency through gameplay. Its innovative use of blockchain technology provides a decentralised gaming experience with economic incentives for players.

Who created Axie infinity?

Axie Infinity was developed by Aleksander Leonard Larsen and Trung Nguyen. The game emerged from their vision to create a new type of gaming experience that leverages blockchain technology for ownership and play-to-earn mechanics. Their efforts have turned Axie Infinity into a leading platform in the blockchain gaming space, attracting significant attention and investment.

How does Axie Infinity work?

Axie Infinity is an online game universe centered around Pokémon-esque creatures called Axies. Players can collect, battle, breed, and build kingdoms for their Axies, blending traditional gaming with blockchain technology. In-game digital assets, including the Axies themselves, are represented as NFTs—unique tokens that prove ownership and allow trading on the game’s marketplace. This Ethereum-based game lets players own their virtual assets and earn rewards based on their skill level.

To start playing, users must connect their digital wallets and social accounts through the game’s onboarding process. After setup, players can interact with the digital marketplace using their wallet. To play, they need three Axies, which can be purchased with ETH on the Ronin wallet, a cryptocurrency wallet designed specifically for the Axie Infinity ecosystem, or acquired through scholarships offered in the official Axie Discord channel.

Axie prices vary based on rarity, attributes, and type. Floor Axies, the most affordable, are generally weaker in battle, while rarer Mystic Axies can cost thousands of dollars. The game’s economy reflects these price fluctuations, impacting the potential earnings for players.

Play-to-Earn model (P2E)

The play-to-earn model allows players to earn real-world value through their in-game actions. Unlike traditional games, it uses blockchain technology to create digital assets like NFTs and cryptocurrencies that can be traded or sold. This model turns gaming into a potential income source by offering rewards for time and skill, providing economic incentives beyond just entertainment.

The play-to-earn model in Axie Infinity allows players to earn real-world value through their gameplay activities. Players can earn rewards in the form of the in-game cryptocurrency SLP (Smooth Love Potion) and AXS (Axie Infinity Shards) by participating in battles, completing quests, and achieving milestones. These tokens can be traded or sold on various platforms, giving players the potential to earn income based on their in-game performance and investment.

Virtual Land

In Axie Infinity, Lunacia serves as the digital world where players can own or rent plots of virtual land. These plots function as essential bases for players’ Axies. Players have the option to buy these plots outright or become stewards by renting them. Owners can list their land on the Axie Infinity marketplace and assign stewardship to others. Owners and stewards of virtual land can earn AXS and collect various resources that appear in Lunacia. These resources are valuable for enhancing both Axies and the land itself.

What is the native cryptocurrency of Axie Infinity?

In Axie Infinity, there are two main cryptocurrencies: Smooth Love Potion (SLP) and Axie Infinity Shards (AXS). SLP is primarily earned through gameplay and is used mainly for breeding Axies, though it can also be traded on exchanges. In contrast, AXS serves as the governance token for the Axie Infinity ecosystem, enabling holders to vote on game proposals and changes. AXS can also be staked to earn rewards and contribute to ecosystem security, and it can be used to pay for in-game services or features, in addition to being traded on exchanges. While SLP focuses on in-game mechanics, AXS plays a key role in governance and the broader economic framework of the game.