The Ethereum blockchain has seen its fair share of transformations over the years, with developers forever pushing new ideas and pioneering exciting new worlds for the blossoming crypto market. Axie Infinity, being just one of the few NFT-based online platforms to come out of the last five years, is a perfect example of how the blockchain can still churn out surprises and harness new concepts.
While new games are added to the blockchain on a regular basis, very few have managed to stay afloat since their inception. Axie Infinity, a 2018 chapter, has been something of a life raft these past few years, providing a platform for other up and coming games to retreat to for inspiration. But what is this game we're talking about? What is Axie Infinity, and how is it currently performing on the blockchain as of 2022?
What is Axie Infinity?
Axie Infinity is an NFT-based online world which allows for its users to purchase creatures known as Axies. Acquiring said creatures, players can build a collection, battle their highest performing pets, and trade them to other users for financial gain.
Think of Axie Infinity as a turn-based card dueling game. Each player has 3 Axies for every battle, and the sole purpose of each bout is to eliminate the opposing team. Outside of combat, players can trade their NFTs, purchase land, and accumulate the secondary in-game currency, Smooth Love Potion (SLP), by completing daily quests.
Axie Infinity is split into two game modes: Adventure, and Arena. Adventure is made up of 36 levels, which allows players to battle various monsters. Doing so, in turn, levels up the player's Axies, as well as earns SLP on the side. Another way players can earn SLP is by accepting and completing the daily quests that are laid out.
The Arena isn't much different. It's made up on PvP battles with other users around the world. Similar to Adventure, players stake their three strongest Axies against one another for a shot at the title. Winning a battle, of course, means taking a set amount of SLP, depending on the matchmaking level.
In order to get started with Axie Infinity, a player must first purchase 3 random Axies in order to form a collective fit for the platform. At launch, this would typically set the user back around $400. At present, players are having to fork out upwards of $1,000 for the starter team before playing.
It is worth pointing out, though, that one Axie was, in fact, sold for a whopping $820,000. And so, while the game is very much labelled as a Play-To-Earn world, it does require an initial investment before opening up its chest of contents. Sink enough funds into its startup programme, and it could very well result in turning a nice profit. It's a gamble, of course. But, it's also a gamble that just shy of 3 million people are signing up for on a daily basis.
What are Axie Infinity Shards (AXS)?
Axie Infinity, like every game on the blockchain, uses in-game currency to help grease the cogs on which the game turns on. The currency (that being Axie Infinity Shards) is an ERC-20 token that can be purchased on most crypto markets, mainly Uphold, Binance, and Gate.io. For more information on the market choices, see ‘How to Buy Axie Infinity (AXS)' below.
At the time of writing, Axie Infinity Shards sell for approximately $64, making it roughly 12% higher than its standard price. Insiders forecast a sharp incline in value over the next twelve months, claiming the token will reach upwards of $170 by 2024.
What are Smooth Love Potions (SLP)?
While Axie Infinity Shards are used for in-game payments, governance, as well as breeding new Axies, Smooth Love Potion, another in-game currency, stands out as a reward for those who play the game. This is where the Play-To-Earn aspect comes in.
After the initial investment is made, players can earn SLP by simply playing the game. Like AXS, SLP can be both purchased and sold on the blockchain. It is primarily used for breeding new Axies, all of which can be kept or traded at a later date.
At the time of writing, SLP sells for just shy of $0.01. Being a currency that players can earn an infinite amount of from simply playing the game, its value is somewhat shortsighted. By completing daily quests and competing in arena battles, players can earn a minimum of 150 SLP per day.
Axie Infinity Shards (AXS) Use Cases
Being the native currency for the game, AXS has its many uses. Primarily, the token is used for breeding Axies, which can then be leveled up and used for battling purposes. AXS also helps stakeholders manage the governance system the game employs, giving rights to vote on general updates and elections.
Axie Infinity Shards (AXS)
|Total Maximum Supply||270,000,000 AXS|
Smooth Love Potion (SLP)
|Total Maximum Supply||Infinite|
How to Store AXS & SLP
Of course, any game on the blockchain asks that you have a crypto wallet. Two particular wallets the game tends to favor are the Ledger Nano S, and the Trezor One, both of which can be purchased for around $60.
Alternatively, players can store the coin on Trust Wallet, a product officially supported by Binance.
As a way to store all assets in one convenient location, Sky Mavis drew up Ronin, an in-house wallet that lets players store and trade both AXS and SLP without shifting to other platforms.
How to Buy Axie Infinity (AXS)
Uphold – This is one of the top exchanges for United States residents that offers the option to buy Axie Infinity (AXS). UK & European residents are prohibited from buying this digital asset.
Binance – Best for Australia, Canada, Singapore, UK, and most of the world. USA residents are prohibited from buying the Axie Infinity (AXS) game token. Use Discount Code: EE59L0QP for 10% cashback off all trading fees.
Gate.io – This is one of the best exchanges in the world that currently offers all of the leading gaming tokens including Axie Infinity (AXS). This exchange currently accepts USA & UK residents.
To learn more visit How to Buy Axie Infinity.
How to Buy Smooth Love Potion (SLP)
Binance – Best for Australia, Canada, Singapore, UK, and most of the world. USA residents are prohibited from buying the Smooth Love Potion (SLP) game token. Use Discount Code: EE59L0QP for 10% cashback off all trading fees.
How to Transfer Tokens to Play
Of course, having a stake in the game's currency does mean tokens can be used to physically play the game. After storing either the AXS or SLP token in one of the aforementioned wallets, owners can wire funds to the game itself. Ronin, of course, being the prime choice.
Both tokens can be used to obtain in-game assets on the marketplace, including land and Axies. For more information and a step-by-step guide on how to add the funds to your game wallet, see here.
For all the latest updates on Axie Infinity, you can follow the official social handle here.