Axie Infinity is a multi-pronged digital world with collectible characters, breeding, competitions and battles. Its native token, AXS, fuels the play to earn economy. Axie Infinity has taken the lead in most charts for play to earn projects and has created a winning recipe for multiple sources of income, digital breeding program and a dedicated community.
The Axie world also situates its games on a digital map, and has its own version of the digital land plot market, similar to Decentraland or The Sandbox.
To earn with Axie Infinity you’ll have to collect SLP (Smooth Love Potion). You get these by logging in daily, completing adventures, and by winning PvP battles. These are straightforward ways of earning SLPs.
SLPs can be traded for other cryptocurrencies of your choice. Breeding and trading Axies is a whole different story. Simply put, you can breed Axies and sell them in the marketplace. If you are lucky you can breed a rare kind of Axie and sell it for an insane high price.
breeding in Axie Infinity is creating a new Axies. You have to breed two of your Axies to produce a new Axie. Players can pick the traits that they want in a new Axie. You can choose the egg’s class, cards, and more. The egg turns into an adult within five days of hatching.
Players can put their new pets into their team and play the game. Or they can choose to sell the new Axies in the Axie Infinity marketplace. As you can imagine, selling Axies is one of the profitable ways of earning rewards.
In Adventure mode you play against the computer. In this mode, you can level-up your Axies, which only affects the power of the Axies in the Adventure mode. The Adventure mode is played on different Ruins where it gets harder and harder with each Ruin level, but it does not offer that much variation in gameplay. However, you can earn 50 SLP per day by doing the daily quests and it is a good way to get to know the game mechanics when you are new to the game.
With the introduction of version 3 or Origin, they have introduced new modes in Arena: Practice, Ranked, and Tournament mode.
In Practice Mode, players can jump in and practice their skills without worrying that their rankings to go up or down. You can have unlimited playtimes with each win allowing you to earn 1 EXP.
Ranked Mode works on a different system and is divided into 8 ranks with each rank further divided into 4 tiers. To rank up, you need to collect victory stars and the amount you need is dependent on the rank you are in. Each win gives you 2 victory stars while a loss can lose you one victory star and a draw nets 0 victory stars.
Finally, you have Tournament Mode, which is similar to ranked mode but allows you to join tournaments. They will be held periodically during the Alpha phase of Origin.
The Axie Discord community is among the largest, gathering 800,000 members in its play to earn metaverse. On Twitter, more than 742,000 accounts follow the latest updates, trades and battles for the best Axies. Holders on the blockchain are also a significant crowd, with AXS tokens spread to 41,500 addresses on Etherscan.
The Axie metaverse is also taking the top spots on OpenSea, where rare and expensive land plots trade for as much as 550 ETH. Interest in the project also affected the AXS market price, which rallied by as much as 28,823% over the course of 2021.
The AXS token is the native asset for trading within the game ecosystem. AXS has a relatively low supply of 270M tokens in total, with only around 60M released in circulation so far. The AXS token, also known as Axie Infinity Shards, has several functions.
AXS is used for voting and governance within the game ecosystem. The asset can also be locked for staking to receive passive rewards. AXS can also be generated through gameplay. AXS that has been staked or used for voting is stored at the Axie Infinity Treasury, which also redistributes tokens for gaming rewards, closing the circle on the in-game economy.
The token schedule will set aside a total of 20% of AXS for play to earn rewards, with the rest spread out on other funds, treasuries and initiatives.
When you make a trade at Axie Infinity Marketplace, a 4.25% marketplace fee is taken from the seller (but not the buyer). This means that if you sell an Axie Infinity NFT for 100 USD, you will only receive USD 95.75 for it. The remaining part of the sale price is paid to Sky Mavis, the core developers of Axie Infinity, as a commission. Since 2021, however, all marketplace fees will go into The Community Treasury which will ultimately reward AXS token holders.
As a buyer, the fees you need to worry about are the gas fees. There are four separate gas fee categories based on speed — Slow, Standard, Fast and Rapid. The gas prices depend upon the category and nature of the transaction. Here is a snapshot.
conclusion
Axie Infinity is a legitimate play-to-earn video game based on NFT and blockchain technology. The current number of players and the record-breaking sales it has generated are good indicators that it has a solid digital ecosystem and economy. Another strength of this game is that the value of the cryptocurrencies used in-game is based on a fair market price. Future development plans for this game remain promising. As one of the first NFT-based games, it is also a game-changer, and can indeed benefit early adopters. But people should still exercise caution. Axies NFTs are still prone to overvaluation, as well as hyperinflation. Adding to this is the fact that cryptocurrencies are volatile. Individuals should evaluate their risk appetite when investing real money in the game.
