Players and investors have been paying close attention to crypto games since early 2021. This is due to the fact that the profits on each token are steadily increasing.
One of the tokens that everyone is talking about when it comes to the number of users and rising revenues on the platform is AXS. It's based on the "Play-To-Earn" paradigm, which allows people to earn money by playing games. More crucially, even individuals who are unfamiliar with blockchain technology can participate in this game.
About Axie Infinity (AXS)
Axie Infinity Shards (AXS) and Small Love Potion (SLP) are the two in-game currencies that are key to the Axie play-to-earn environment, and cryptocurrency investors may trade them using AXS (SLP).
On the platform's marketplace, players may benefit from breeding and Axie trade. However, before investing in the AXS and SLP tokens, investors need to have a deeper understanding of how the Axie Infinity game operates.
What is Axie infinity and how does it work? Each Axie is an NFT, and its price is determined by the rarity of its properties. Parents Axies can be chosen and bred together to produce offspring with specified qualities.
"Axie Infinity Shards (AXS) are the ERC-20 governance token for the Axie Universe. AXS token holders will be eligible for prizes if they stake their tokens, play the game, and vote in critical governance votes. "Players will be able to earn $AXS via playing various games inside the Axie Infinity Universe and through user-generated content initiatives," according to the project's white paper.
The land is tokenized in Axie Infinity and may be freely transferred between players. According to the white paper, landowners who locate AXS tokens on their plots will have first rights to any resources that spawn on their land.
To play the game, players must purchase three Axies. As the price of Axies has increased, a scholarship system has arisen in which Axie owners (known as managers) lend their Axies to players (who are known as scholars). The scholars can earn tokens on the manager's behalf and participate in the profits.
Axie Infinity has roughly 2.5 million gamers worldwide, according to Sky Mavis authorities. It's become well-known as a play-to-earn game that allows gamers in developing nations like the Philippines, Vietnam, and Brazil to earn real money. It has also made a big contribution to inflation-stricken nations such as Venezuela by allowing many impoverished families to eat.
While the Axie Infinity game was built on the Ethereum blockchain, Sky Mavis created the Ronin sidechain to handle Axie Infinity transactions because of high transaction costs and the necessity for speedier processing.
According to the December development report, "this player growth, along with the launch of our decentralised exchange (Katana), has resulted in an extensive use of our Ronin blockchain." On a daily basis, Ronin's transaction volume is roughly 4x that of the Ethereum chain, prompting us all to prepare for a tremendous scale in 2022!"
Katana acquired 409,000 unique users in its first month, and more than $1.2 billion in liquidity was deposited. By providing liquidity for the AXS/ETH and SLP/ETH pools, users may now farm RONCOIN (or RON – the Ronin blockchain's ecosystem token) tokens.
The makers plan to release the Land game (also known as the Project Kingdom or K) this year, in which users will be able to create bases, acquire resources, and compete against other players using their Axies.
Also Read | Most stable cryptocurrency
What is an AXS token?
Axie Infinity Shard is the abbreviation for Axie Infinity Shard. It is an Ethereum Blockchain-based ERC-20 token with a maximum quantity of 270,000,000 AXS tokens. AXS was built specifically for Axie Infinity's platform. Axie Infinity is a combat game inspired by Pokémon in which users may breed and develop their Axies to fight against other players.
When it comes to mating their Axies, players must consider the race and rank of their characters in order to have the best chance of creating formidable progeny. Players may also sell their Axies and trade their islands or any other things in the game on the NFT marketplace.
There are two game modes in Axie Infinity: Adventure Mode, in which players must fight and complete each level successfully, and Arena Mode, which contains combat contests and needs at least three Axies in the battle.
AXS use cases, Source
Holders of AXS tokens will have a voting right in the game's development. They may also stake their tokens to get regular payouts and pay for anything on the site using AXS currency, such as Axies on the Marketplace. As a result, the rapid rise of AXS tokens is contingent on the success of Axie Infinity's platform.
How do you start playing Axie Infinity?
You'll need an Ethereum-compatible crypto wallet as well as enough ETH to play. You may buy ETH on an exchange like Coinbase and transmit it to Metamask or Coinbase Wallet (which is distinct from the main Coinbase app and can be downloaded from the App Store or Google Play).
(If you'd prefer to play on a computer, you can also download this Chrome extension to link Coinbase Wallet to a web browser.)
You must purchase at least three Axies from the game's marketplace before you can begin playing. Sky Mavis keeps 4.25 percent of all Axies, virtual real estate, and other things that users sell to one another. Axies with desirable qualities that are "rare" cost extra.
Players may also "breed" new Axies, which costs Axie Infinity Shards (AXS) and Small Love Potion (SLP), the game's two native cryptocurrencies (SLP).
SLP may be earned by defeating other players and completing tasks. (Here)
Advantages of Axie Infinity
Gameplay Based on Trading and Battling
The game is best characterized as a cross between Pokémon, a popular role-playing video game, and Hearthstone, a digital collecting card game. In appearance, the gameplay is rather straightforward: it entails battling and reproducing Pokémon-like playable monster creatures known as Axies.
Axie, on the other hand, may be played in four different ways. One method is to breed Axies and then sell them to other players on a marketplace. The other way is to complete in-game tasks and fight other players in PvP (player-versus-player) fights. Players may also put their Axies, which they have bred and grown, to the test in-game.
The game's graphical user interface and general appearance and feel are rather simplistic. However, the play-to-earn feature makes it an appealing game title. Players may earn the Ethereum-based tokens AXS and SLP by fighting or breeding Axies, which can then be exchanged into Ether and utilised as real-world money.
Axies are Non-Fungible Tokens
One of the key features and, as a result, one of the main advantages of Axie Infinity is that Axies are non-fungible tokens or NFTs. To begin, an NFT is a type of digital asset that can be bought, sold, and exchanged. Many people have made money by generating, selling, and exchanging digital material based on NFT.
Notable instances are Michael Joseph Winkelmann, commonly known as Beeple's digital artwork "Everyday's—The First 5000 Days," which sold for USD 69.3 million, and his 10-second movie "Crossroads," which sold for USD 6.6 million. The 3D-rendered house model "Mars House" was sold for USD 500,000 by artist Kristy Kim.
NFT minting, which uses blockchain technology, has tokenized memes and video snippets, as well as music, digital collectable cards, and even papers. When a player possesses numerous Axies, though, he or she is effectively owning a collection of digital goods with monetary worth. These Axies can be bought and sold on the open market.
Complexity and Future Developments
The game is set up as an open-ended digital pet environment, according to Sky Mavis. This signifies that the game's gameplay and features will be expanded in the future by the developers. With Axie at the heart, there is a clear aim to establish an immersive digital ecosystem based on blockchain technology and cryptocurrencies.
Furthermore, the game is rather difficult. Players can pick from three distinct roles in the Philippines, where it has attracted hundreds of thousands of players since 2021: "manager" who curates Axies, "scholar" who plays the Axies of multiple "managers," and finally, "breeder" who breeds and sells Axies.
The developments in the Philippines are proof of the game's open-ended structure. These "managers" have discovered a way to boost their earnings by renting Axies NFTs to other gamers, allowing these "scholars'' to make money.
Runs on Desktop and Mobile Operating Systems
Axie Infinity also has the benefit of being compatible with most desktop and mobile operating systems. It operates on Microsoft Windows, Apple's macOS, Android, iOS and iPadOS, to name a few. It can be installed and played on PCs, Macs, Android smartphones and tablets, as well as iPhones and iPads.
This video game's cross-platform blockchain interoperability makes it accessible to a wide range of people, allowing it to draw more players and extend future growth possibilities, as well as allowing the involved digital ecosystem and blockchain economy to be sustained and expanded further.
It's also worth mentioning that it doesn't necessitate flagship or top-of-the-line gear. The programme can run efficiently on a low-resource machine. It can, for example, run on up to five-year-old mid-range Android smartphones as well as the most recent entry-level and inexpensive Android handsets on the market.
Play-to-Earn and the Blockchain Economy
Keep in mind that this is a play-to-earn video game based on NFTs. Although participants can not get traditional fiat money, they do receive Ethereum-based tokens called AXSs and SLPs, which can be turned into Ether, one of the world's most well-known cryptocurrencies. They may either get their Ether turned into money or utilise it right away.
Several players have amassed significant wealth as a result of their participation in this game. Numerous success stories have been featured in the media in different rural areas of the Philippines, for example. These range from a player who was able to provide for his family's basic necessities during the epidemic to another who was able to purchase a house and land.
Another advantage of Axie is that it allows ordinary people to comprehend how blockchains and cryptocurrencies function, specifically how the blockchain economy works. Axies may also be exchanged for cryptocurrency, and sponsored players can receive allowances from NFT owners because they are NFTs.
In a nutshell, AXS is a token designed to be used on the Axie Infinity platform. AXS token holders may vote, stake, and pay for any product using their tokens. But what's intriguing about this AXS is that, based on the number of users and overall income, the platform is expected to increase.