Buy Axie Infinity (AXS)

What is Axie Infinity?

Axie Infinity is a blockchain-based trading and battling game that is partially owned and operated by its players. It allows players to collect, breed, raise, battle, and trade token-based creatures known as Axies. A key feature of Axie Infinity is its play-to-earn model, which enables players to earn cryptocurrency for their in-game activities.

How does Axie Infinity work?

Axie Infinity operates on the Ethereum blockchain, employing a sidechain called Ronin to enhance the gaming experience. The game utilises smart contracts to manage in-game assets, including Axies and tokens. Players engage in turn-based card matches with teams of Axies and can earn tokens through battles and other in-game events. The token economic model includes Axie Infinity Shards (AXS) for governance and Smooth Love Potion (SLP) for in-game rewards and breeding costs. The game leverages a Proof of Stake (PoS) consensus mechanism.

What are the potential use cases for Axie Infinity?

Axie Infinity has a variety of use cases. It primarily serves as a digital gaming platform, providing users with a play-to-earn mechanism that enables income generation through gameplay. It also acts as a social network and community, fostering collaborations and interactions among players. Additionally, the game introduces participants to blockchain technology and acts as a tool for financial inclusion, particularly in developing regions. Axie Infinity also facilitates the trade of digital collectibles through its in-game assets.

What is the history of Axie Infinity?

Axie Infinity was founded in 2018 by Trung Nguyen along with a team including Aleksander Leonard Larsen, Tu Doan, Andy Ho, and Jeffrey Zirlin. The game was initially launched in March 2018, offering a unique gaming experience centred on digital creature battles. The development of Ronin Network in February 2021 marked a significant technological leap, introducing an Ethereum-linked sidechain to enhance scalability. A notable milestone in Axie's development includes raising $152 million in a funding round led by Andreessen Horowitz in 2021. With its innovative use of blockchain technology and NFTs, Axie Infinity has steadily grown within the cryptosphere, particularly influencing economic participation in developing countries.