Axie Infinity: Everything to Know
By Beluga Research July 12, 2023
- Axie Infinity is a blockchain-based game that allows users to own virtual creatures called Axies, which can be traded and used as competition items
- As a result of the gaming mechanics, Axie Infinity offers players a singular user experience
- This combines an entertainment and reward-based system, powered by crypto
- Players have the opportunity to acquire Axie Infinity's native cryptocurrency, called AXS, and its secondary token, called SLP
Axie Infinity is a blockchain-based game that allows users to own virtual creatures called Axies, which can be traded and used as competition items.
The functionality of the Ethereum blockchain enables it to be the foundation upon which many cryptocurrency-based games now exist. One such game is Axie Infinity, a decentralized game. Decentralization means that the game and its assets exist on a peer-to-peer network. Any global user can partake in and play. A unique feature of the game is its economic structure, which offers users crypto earning potential when they play the game.
Another notable feature of Axie Infinity that enables its wide range of global users is its accessibility as desktop and mobile devices can easily access it.
The core makeup of Axie Infinity involves two components that make it distinct. These are the Axies and the gameplay. The Axies are digital pets that are marketable on the blockchain. When a user buys an Axie, they can nurture and sell it in the future. And a buyer will own an Axie that is like no other. That is because each Axie has unique traits like color, body shape and abilities that distinguish them from each other. The gameplay involves battling other Axie owners to level up.
A Brief History
A group of innovative developers from Vietnam came together and worked as a team to launch Axie Infinity in 2018. Pokemon and Tamagotchi were the sources of inspiration for the development of Axie Infinity. Following in the footsteps of Pokemon and Tamagotchi, Axie Infinity developers worked toward ensuring players would find great affinity for it due to its engaging and reward-centric nature. Additionally, the advantages of blockchain technology were focal points the developers sought to accentuate.
A year after its release, Animoca Brands led a successful fundraise of $1.5 million that continues to play a role in Axie Infinity's success through the years. The funds aided the team's growth and the game's advancement.
Subsequent events saw Axie Infinity‘s popularity soar in 2020. This popularity was attributable to the corresponding increase in the value of AXS, Axie Infinity's native cryptocurrency. Additionally, a new gameplay element came into the mix. Players got the ability to own a blockchain-based digital land that could expand depending on a player's efforts.
What is Axie Infinity?
Axie Infinity is a game whose concept primarily focuses on digital pets. These pets are called Axies. The Axies are purchasable, breedable and subsequently tradable to other buyers on the blockchain. There is a distinctiveness to every Axie that makes them different in looks, color and skill set. Axies can get even more peculiar when they level up. To level up, Axies battle each other as controlled by players.
The gameplay happens in a way that involves two players taking turns. Using specific skills, an Axie wields its abilities to combat opponents for rewards. A reward takes the form of items, experience points or cryptocurrencies.
For players to earn cryptocurrency, a unique economic model makes this possible when they play the game. Two cryptocurrencies exist as forms of payment.
- The first one is AXS . It is the native cryptocurrency for Axie Infinity. Generally, buying Axies and other in-game purchases is done using AXS.
- The second cryptocurrency is SLP . It is the secondary cryptocurrency players earn when they play the game or win a battle. Another feature of SLP is that it is an incubator that leads to AXS.
To start playing in the Axie Infinity universe, players need to go through an easy-to-follow, seamless process . One of the processes requires players to connect their Ethereum wallets. With a wallet, a player can purchase AXS from a designated market that handles similar transactions.
All Axies exist as NFTs, meaning that each Axie has a uniqueness that is peculiar to it. NFTs are known for their originality; no NFT exists twice. As such, no one can replicate an Axie. A determining factor in the price of an Axie is its uniqueness and the skillset it possesses. Some Axies are worthy of mention due to the thousands of dollars they go for in the open market.
Players who have purchased Axie can begin playing the game based on two things. These are the modes: Adventure mode and Arena mode. As the name implies, Adventure introduces players to exploration, where they explore the Axie Infinity world to battle adversaries. On the other hand, Arena mode is for PvP rounds where players battle it out and win rewards.
Several things sum up the peculiarity of Axie Infinity, which sets it apart from other blockchain games. An element that exemplifies this is the play-to-earn approach. Certain players do not have the funds to purchase the cryptocurrencies. This opportunity is an employment market for such players. They can build a career by playing the game. Playing the game will help them earn cryptocurrencies they can sell in the marketplace .
To foster communal harmony, the game's community offers players the opportunity to join guilds and engage in healthy competition with members of other guilds. Another incentive the developers offer is the scholarship program players can benefit from when completing tasks. As an incentive for those without the funds to purchase an Axie, they get to participate in challenge completion.
Another reason Anxie Infinity stands out is its breeding system, which allows players to nurture and breed an Axie, which can turn into a well-deserved profit for the player.
- Play-to-earn. Playing and earning afterward are two distinct rewards. Players get an immersive experience that offers them entertainment, and the best part is earning cryptocurrency on top of it. It is similar to being paid to do something you love. AXS, Axie Infinity's native cryptocurrency, is earned by players when they win battles or complete quests. Similarly, SLP is another reward players can get when they breed Axies. You will be excited to know both AXS and SLP are tradable on cryptocurrency exchanges .
- Unique gameplay. The working mechanism that Anxie Infinity uses is entirely original. Unlike traditional games, this one offers a developmental stage that lets players take turns battling one another using their unique Axies. The winning player wins due to several factors, including having a one-of-a-kind Axie that brings a distinct set of abilities to the battle. Another thing to note is the ability of players to nurture their Axies to be strength-induced and powerful.
- Community-driven. The community plays an integral part in the success and drive of the game. Player feedback plays a role in how the developers incorporate changes that promote updates and iterations. Newcomers can rest assured that existing users are willing to share their experiences and offer assistance.
- Investment potential. The growing popularity of Axie Infinity makes it a viable investment instrument. As more people continue to learn about its offerings and fun nature, the growth trajectory will continue to be steep. Some Axies have sold for millions of dollars due to their rarity.
- High entry cost. A drawback of Axie Infinity is its fee. This fee is a barrier to entry for some people. Beginner players have to buy three Axies to proceed in the game. Another cause for concern is the staking requirement before a player can start playing the game. Some people have complained it is on the high side.
- Steep learning curve. When learners take long breaks from learning, returning to it becomes tedious. Axie Infinity will seem complex to some individuals because it has a lot of mechanisms that will require some time commitment. These days, time is something people cannot offer freely. And without commitment, becoming adept at Axie Infinity is a long stretch.
- Limited Scalability. Because the mechanism of Axie Infinity works on the Ethereum blockchain, only a limited number of people can play the game at a time. This scalability issue makes it hard for several people to play the game because with popularity comes congestion. New players who attempt to play the game will be discouraged from repeatedly trying to gain access to the servers.
- Risk of hackers. Hackers are constantly on the prowl for new victims. Unfortunately, Axie Infinity is susceptible to hackers because it exists on the Ethereum blockchain. Players must be extra careful with their private keys. Because carelessly exposing or losing access to them is a gateway for hackers to steal cryptocurrencies and Axies. At least $620 million has been stolen via Axie Infinity - and the real number is likely much higher than that.