What is Axie Infinity?

Axie Infinity (AXS) is a blockchain-based play-to-earn (P2E) game that allows players to collect, breed, battle, and trade fantasy creatures called Axies. Developed by Sky Mavis and launched in 2018, Axie Infinity leverages non-fungible tokens (NFTs) to enable ownership of in-game assets. The platform runs on Ethereum and utilizes a sidechain called Ronin to reduce transaction fees and improve scalability.

Axie Infinity's native token, AXS, is used for governance, staking, and in-game rewards, while Smooth Love Potion (SLP) serves as a secondary token for breeding Axies.

How is Axie Infinity useful?

Axie Infinity pioneered the play-to-earn gaming model, allowing players to earn cryptocurrency by engaging in battles, breeding Axies, and participating in the in-game economy. Players can trade their Axies and virtual land as NFTs on the Axie Infinity marketplace, creating a decentralized gaming economy. AXS holders can participate in governance, influencing game development and ecosystem updates.

Additionally, Axie Infinity provides a source of income for players in emerging markets, where play-to-earn gaming has gained significant adoption.

How does Axie Infinity work?

Axie Infinity operates on a dual-token system with AXS and SLP, where players earn SLP through gameplay and use it for breeding new Axies. The Axie Infinity game is built on Ethereum but utilizes the Ronin sidechain, significantly reducing gas fees and transaction times. Players battle using Axie NFTs, each possessing unique traits and abilities. The Axie Infinity game also features a marketplace where users can buy, sell, and trade Axies, land, and in-game items.

AXS staking allows token holders to earn rewards and contribute to the game's governance, ensuring long-term sustainability.

Axie Infinity Milestones

• Rise of Play-to-Earn Gaming: Became the leading blockchain game, driving mass adoption of P2E mechanics.

• Launch of Ronin Sidechain: Enabled low-fee transactions, improving accessibility and scalability.

• AXS Staking Implementation: Introduced staking rewards, allowing users to earn passive income.

• Expansion into Virtual Land: Developed a metaverse ecosystem with land ownership and in-game economy expansion.

• Security Challenges and Recovery: Faced a major exploit in 2022 but successfully implemented security upgrades and compensation plans.

Axie Infinity continues to shape blockchain gaming, merging entertainment, NFT ownership, and decentralized finance to create a sustainable P2E ecosystem.

Buy Axie Infinity (AXS) on BITmarkets.