Axie Infinity: A Well Backed Metaverse

Axie Infinity is an non-fungible token-based online video game developed by Vietnamese studio Sky Mavis, known for its in-game economy which uses Ethereum-based cryptocurrencies. Players of Axie Infinity collect and mint NFTs which represent axolotl-inspired digital pets known as Axies.

In the summer of 2021, Axie Infinity — a crypto-meets-Pokémon game in which players raise, battle, and trade cute NFT pets called Axies — has regularly been the biggest crypto app on the Ethereum blockchain. - Coinbase

  • Axie Infinity is an online game universe revolving around Pokémon-esque creatures known as Axies.

  • Axie Infinity is different than other online games because of the synergy between standard online gaming and blockchain technology.

  • Axie Infinity is recognized as a leader in play-to-earn (P2E) gaming.

How does Axie Infinity work?

Axie Infinity describes itself as a “play to earn” game, where players can sell items (including the Axies they breed, in-game real estate, and accessories like flowers or barrels) via the game’s NFT marketplace while also collecting tokens the game generates. There are two special cryptocurrencies used in the game:

  • The main token, Axie Infinity Shards (AXS), can be bought and sold on exchanges like Coinbase. You need some AXS to play the game, but you can also trade AXS like Bitcoin or Dogecoin or any other major crypto. AXS will also serve as a governance token, which allows holders to have a say in the future of the game. -Coinbase

  • A second token, called Small Love Potion (SLP), is awarded to players for spending time in the game. You can win some for beating an opponent’s Axie or for completing in-game quests. The more you play, the more SLP you can rack up. (While this asset is currently unavailable on Coinbase, you can buy and sell SLP via DEXs like Uniswap or SushiSwap.)


Key Readings & Resources:


What is Axie Infinity? - Investopedia

https://www.investopedia.com › what-is-axie-infinity-5...


What is Axie Infinity? | Coinbase

https://www.coinbase.com › Learn › Crypto Basics


Axie Infinity price today, AXS to USD live, marketcap and chart

https://coinmarketcap.com › currencies › axie-infinity


What Is Axie Infinity (AXS)? | Binance Academy

https://academy.binance.com › articles › what-is-axie-in...

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