As you hopefully know by this point in our Axie review, Axie Infinity is a play-to-earn gaming platform. As a result, both AXS and SLP are ERC-20 tokens. How Axie Infinity worksĪxie runs on the Ethereum blockchain, which allows it to host un NFTs (since they require a blockchain protocol like Ethereum, which supports smart contracts). AXS is also a governance token, meaning that tokenholders get a say in how the platform is run and the direction it takes. Players can use their AXS to buy in-game items or to trade NFTs. This is where Axie’s own NFT marketplace, Axie Marketplace, comes in. In general, players trade their SLP for AXS. The platform’s top players can earn AXS for playing, but the supply is limited (unlike SLP, which is relatively easy to earn). However, Axie Infinity Shards (AXS) is the game’s main currency.
The rewards players earn are another kind of digital currency called Smooth Love Potion (SLP) tokens, which you can exchange for “real” money. Axie Infinity is a play-to-earn game, but it’s also so much more. These NFTs are also collectibles, and they can then increase or decrease in value, making it possible to make money online and earn a profit from trading them. But what makes Axie really interesting is that NFTs are at the center of these battles-monsters called Axies do the fighting, and players buy their Axies in the form of NFTs. It’s loosely inspired by Pokémon too, which is pretty cool. But what exactly is it?Īt its core, Axie Infinity is a game in which players battle against each other and earn rewards in the process. It hit a trading volume of $1 billion in August 2021, so it’s worth taking Axie Infinity seriously. Is it going to be among the investment trends in the future?. Some have even predicted that users may be able to use the same NFTs in multiple different games as part of the “metaverse” in the future. If the platform is hacked, goes offline, or the user is suspended, that ownership won’t disappear automatically. Yet the blockchain has taken things to the next level by making things decentralized-players can purchase their in-game items as NFTs, meaning their ownership is put onto a public ledger and no longer reliant on a single server or gaming company. Many games had had their own in-game currencies long before Bitcoin emerged, and these tokens are often said to be the predecessors to cryptocurrencies. Gamers have always wanted to purchase in-game items, whether it’s armor on Runescape or extra furniture on The Sims. It might not be apparent initially, but NFTs and gaming are natural counterparts.
Axie Infinity is a play-to-earn platform with a twist. But as more innovation takes place in the NFT world, a wider range of use cases have sprung up, some of which includes gaming. Since non-fungible tokens (NFTs) captured the public imagination in early 2021, they’ve mostly been associated with digital art. To do that, we’ll introduce Axie Infinity, dive into its technology and features, and explain how its native token fits into the picture. In this Axie review, we’ll explain why this particular gaming platform could be at the center of the new world.
It seems that the third decade of the 21st century might well be when gaming goes through its next renaissance-NFTs, crypto, and blockchain are combining to power the next revolution. Gaming is often at the forefront of innovation and new technology, from handheld game consoles to motion-sensing controls to virtual reality. Our Axie review gets to the core of what the platform does, along with how its native token AXS has been performing. At first glance, the platform hosts a simple game where monster characters compete in battles, but its use of NFTs could make it revolutionary. The future of gaming is coming, and Axie Infinity is poised to be right at the forefront of the changes.
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