Axie Infinity is a Pokémon-style blockchain game with more than 250,000 daily active players. It is being developed by Sky Mavis, a technology-focused game studio founded in early 2018 and headquartered in Ho Chi Minh City, Vietnam. The game is available for all devices on Windows, Mac, iOS, and Android platforms and allows participants to earn tokens through skillful gameplay and contributions to the ecosystem.
Axie Infinity is a new type of game where users and the team are coworking to develop the network. Its goal is to introduce blockchain technology to the world in a fun way. The game is intended to become a fully decentralized platform governed by the community. This is planned to be achieved by distributing AXS (the game token) among players and stakers decreasing the Sky Mavis ownership concentration over time. The final purpose of the Axie team is to create an application connecting players with the entire Axie Infinity universe.
See more: Axie infinity trading volume
All of Axie’s artistic assets and genetic data can be accessed by external third parties, allowing community developers to create their own tools, artworks, characters, and experiences in the Axie Infinity universe. To provide security the company’s AXS and SLP ERC-20 contract has been audited by Quantstamp.
Axies are animated fantasy creatures each having a unique form, set of skills and powers, which players can buy and treat as pets. They are also non-fungible tokens (NFTs) with different attributes meaning that each of the over 1 million Axie NFTs is unique. The origin Axie presale was held in February 2018 raising 900 ETH. In March 2018, the in-house Axie-NFT marketplace was released. In 2020 land and items and later Axies migrated to Ronin, a wallet and an Ethereum sidechain built by Sky Mavis specifically for blockchain games.
Axie Infinity token
AXS is the native token of the Axie Infinity ecosystem. AXS is an ERC-20 governance token launched through a sale on Binance in November 2020. AXS is an acronym for ‘Axie Infinity Shards’. The maximum supply of AXS is capped at 270 million tokens. The coins are allocated in the following way: 29% is spent on staking rewards, 21% goes to the Sky Mavis team, 20% is assigned for rewards in the play-to-earn model, 11% was distributed through the public sale, 8% is left in the ecosystem fund, 7% is paid to advisors, and 4% was sold via private sale. The initial circulating supply of AXS is 22.22% of the total amount. The rest of the coins will be unlocked in accordance with a 65-month schedule.
Starting from 2021 users can earn AXS by playing, competing in PVP battles, breeding Axies and selling them on the marketplace, collecting and speculating on rare Axies, and farming for the love potions that are needed to breed Axies. They can also earn by completing quests. However, in these quests, the winner does not receive everything, each player is rewarded depending on their efforts and skills.
AXS tokens can be bought on a variety of cryptocurrency exchanges including Binance, Upbit, DigiFinex, Huobi Global, ZT, Pionex, and Bilaxy. Additionally, they can be exchanged for fiat cash with the corresponding ETH value.
AXS holders can stake their tokens to receive newly created AXS through the staking dashboard. They and those participating in in-game quests are rewarded with governance rights and can decide which teams will be funded from the ecosystem fund, and how the Community treasury funds are spent. The treasury accumulates revenues generated by Axie Infinity and portions of staking rewards.
How Axie Infinity works
Axie Infinity has implemented a new game model called “play to earn”. It differs from traditional games by its blockchain economic design used to reward players for their skills and contribution to the ecosystem.
To play the game and store tokens, you must have a digital wallet like MetaMask with some ETH on it. Then it is necessary to download the Ronin wallet and deposit ETH using the Ronin bridge. Newcomers must buy at least three Axies via the Ronin wallet to join the game. Once you have them you can download the application for Windows, iOS, or Android and start playing.
The Small Love Potion token or SLP is the Axie in-game ERC-20 token. It is possible to earn or farm SLPs on a daily basis completing a daily quest or accomplishing Adventure Mode or Arena Mode tasks. Users can win 1-20 SLP per each task depending on its level. Earned SLP coins can be immediately synchronized with your wallet. It is worth noting that you can request your SLP every 2 weeks. They can be sold, traded, or exchanged for stable cryptocurrencies, such as Ethereum, or converted into fiat on decentralized exchanges Uniswap and Binance!
The Axie scholarship program launched in January 2021 allows Axie owners to make the most out of their assets by renting out their pets to scholars through a variety of profit-sharing methods. Therefore people who do not have the necessary capital can still play and earn.
Team and Partners
The Axie Infinity team consists of 25 gaming and cryptocurrency enthusiasts, many of which met playing Crypto Kitties. The engineering team consists of professionals who won in coding competitions and hackathons such as the International Collegiate Programming Contest (ICPC).
Trung Thanh Nguyen is the CEO running the company in Vietnam. Before founding Axie Infinity he co-founded Lozi, an early Vietnamese e-commerce startup, worked for Trusting Social and Anduin Transactions. He represented Vietnam in the ACM-ICPC World Final 2014 held in Russia. Aleksander Larsen is the Chief Operations Officer in charge of everything related to business in Axie Infinity. He also serves on the board of directors in the Blockchain Game Alliance. Tu Doan is a game designer who runs the art team and designed the original Axies. He co-founded Lozi with Trung. Andy Ho is the Chief Technical Officer responsible for the company’s technical strategy.
Axie Infinity is backed by billionaire investor Mark Cuban and BlockTower Capital. It partnered with Chainlink Oracle in November 2020 to integrate its Verifiable Randomness function in the Axie platform.
Maybe you are interested: Grow your Waifu Harem on the Ethereum Blockchain (NFT Collectibles)