What is the Axie Infinity?
Axie Infinity is inspired by Nintendo’s lovely Pokémon series. It sees you and collects little adorable monsters against each other in cartoonish form. Getting started is not a simple or cheap task, however, and there’s a vastly larger front investment that is required more than your average PlayStation or Xbox game. The upside, however, is that you own your Axie NFTs and can resell them, plus its “play-to-earn” approach appreciates you with crypto tokens that can be exchanged for money.
Axie Infinity is a blockchain-based game in which players have to purchase NFTs of beautiful monsters and then use them against each other in war during the game. Players can earn some SLP tokens during gameplay and trade them for the money in exchange. A “play-to-earn” movement has been displayed around the game, with players joining scholarship programs and academies.
The game runs on the Ethereum blockchain with the help of Ronin, a sidechain that helps to minimize the fees and the transaction delays. It’s primarily focusing on turn-based battles, either against computer-controlled Axie teams or live opponents through the Internet.
In-game the items are represented by NFTs or non-fungible tokens. These are cryptographically unique tokens that can be linked to digital content—in Axie Infinity’s case, the Axis and land plots that popularise the game. Unlike conventional in-game items, the NFT has the ownership of the buyer; you can trade Axies on the game’s marketplace for real money.
How does Axie Infinity work?
As mentioned above, Axie Infinity is built completely around NFT items—and right now, there’s no way to play the game unless you have to buy the three Axie NFTs which are needed to create your first team.
They can be purchased from the official Axie marketplace through your Ronin wallet, which you’ll connect to the game. You can play the game on PC, Mac, Android, or iOS and take your Axies into battle to win rewards.
How to get started with Axie Infinity?
You will require three Axie NFTs to start playing the Axie Infinity game, though it’s becoming more accessible to play in upcoming months. Whereas prices for individual Axies on the marketplace once remained in one place at around $225-$250 apiece, now the cheapest Axies are available at the cost of just $28.You must keep in mind that your Axies can be resold, plus they can generate gifts through gameplay.
Now that Axie Infinity has changed its interest in assets from Ethereum to its Ronin sidechain, you will need to create a Ronin wallet and have an Ethereum wallet (like MetaMask) also. Once you have a Ronin wallet set up, you can use the Ronin bridge to transfer ETH to Ronin, where it becomes WETH (Wrapped ETH). You can then use this asset to buy the Axies.
Create an account on the Axie Infinity website and then download the game on your PC or Mac. You can download an Android APK app to install on a smartphone or tablet, also. The game has also been available for iOS through a beta release via Apple’s TestFlight program but currently, it is unavailable because of this writing.
So every version you choose, you’ll need to pair your Ronin wallet to your account, and then sync your Axies from the wallet to the game to start playing it.
What is the AXS token?
Axis Infinity Shard (AXS) is an original governance token of Axie Infinity. Currently, you can utilize AXS to pay for the breeding fees. In the future, AXS holders will be able to vote on the decisions regarding the game and its future development, as well as stake AXS tokens, to earn gifts within the entire game.
Over time, Axie Infinity plans to shift into a decentralized autonomous organization (DAO) to allow for community governance.
Where can you buy AXS?
AXS is available from the cryptocurrency exchanges such as Binance, FTX, and Huobi Global, but it is not currently sold by Coinbase or Binance. Here’s how you can buy AXS from Uniswap. You will require a crypto wallet with ETH or another Ethereum-based ERC20 token to trade at Uniswap. If you need ETH, you can buy it with fiat money at Coinbase or Binance and then transfer that amount to your wallet.
In the last week the Sky Mavis, the Vietnam-based company behind the crypto game Axie Infinity, disclosed that a hacker stole hundreds of millions of dollars worth of crypto from its blockchain. Sky Mavis realized it had been attacked when a user could not make a withdrawal in six days after the breach, and the company froze those transactions on its compromised Ronin Network bridge.
By September 2021, Axie Infinity had already hit the total NFT transaction volume of over $2 billion. (That was up to $4 billion by March 2022.) Long-term players were praised with a $60 million airdrop of AXS tokens in September 2021, one month later by the introduction of a staking service for AXS. In November 2021, Axie’s Ronin sidechain added its own decentralized exchange (DEX), Katana, making it more easier for Axie players to swap tokens without having to bridge to Ethereum. Although, Axie Infinity saw declining token prices and NFT trading volume from December 2021 through the first quarter of 2022, it started implementing economic changes to try to combine the decline. For example, the game is now issuing less SLP tokens after the price of the price token fell to less than a penny.
The explosion of the interest in play to earn has made improving Axie Infinity’s often-clunky UX and onboarding the process abd then a priority for Sky Mavis. Co-founder Aleksander Leonard Larsen has pointed that over half of new Axie players have never used any crypto application before, noting that “it’s really tough to start playing the game Axie right now.” As part of this overhaul, Axie Infinity plans to eventually roll out a way of playing without requirement of players to buy Axies upfront, by giving new users as non-transferrable Axies with “limited earning potential.”
Now Sky Mavis has proclaimed that it received $150 million in investments that “will be used to ensure that all users are affected by the Ronin Validator Hack will be able to get some amount.” At nearly the exact same time, it’s launching a new version of the game, Axie Infinity: Origin.
Most importantly, as the base game, players will start with three free “axies” to do war with. While their free axies don’t allow to participate in the “earn” part of “play to earn,” the idea is that it’s a way for people to try out the game without having to purchase an NFT character or rent one from a manager player who leases the access in exchange for a short of earnings. As the proclamation mentions, “Finally new players will be able to learn the game, and fall in love with the universe before needing to touch crypto and NFTs!”
The developers said that the current Battles v2 (Classic) version of the game will remain live until they completed their testing, then depreciate the old version and move token gifts into Origins, vanishing the valuable incentive to play the older game. Any players interacted into creating a Ronin wallet and funding it with cryptocurrency to buy axies can have their minds ready that users will get money after the big heist, but it is that much enough to make anyone confident that it won’t happen again?
Next up on the game’s expensive map of road is the addition of gameplay based around its land NFTs, which let players to customize the terrain and develop the shareable experiences. It’s another aspect that will help enhance Axie Infinity beyond simply battling and breeding monsters. Other updates are marked for 2022 including the expansion of the AXS ecosystem to include governance and expanded play-to-earn prizes, as well as the mainstream release of Axie Infinity on iOS and Android devices.