Axie Infinity Play To Earn Launched in March 2018 ,is one of the forerunners in the world of NFT Play To Earn games. Led by Trung Nguyen and Sky Mavis, the Vietnam-based team created this highly addictive NFT game that many now use as a source of income . Currently, Axie Infinity, which exploded in popularity in September 2020, has over 2.7 million active monthly players .
Since September 2020, Axie Infinity has become a full-fledged mini-economy, and has generated $2.3 billion in revenue . With a total transaction volume of $3.94 billion, its marketplace is second in the ranking, after OpenSea.
Axie Infinity offers players the ability to engage in ability-based tactical combat. Each player takes control of three Axies, fantasy creatures that also constitute tradable NFTs . As a reward for winning battles, players receive the Smooth Love Potion (SLP) token, which is both an in-game resource and a tradable token used to evolve Axies, just like Pokémon.
Each Axie has four main scalable attributes : Health, Speed, Skills, and Morale. These attributes determine how well your Axie performs in combat. Obviously, the Axies with the highest performance score receive the highest price on the game’s NFT platform . Additionally, although designed in 2D, Axie is a complex metaverse , comprised of crafting, terrain, biomes, roads, farms, potion shops, etc.
Axie Infinity Play To Earn: Economic model
Indeed, Axie Infinity’s huge economy is based on just three digital assets:
- First, the Smooth Love Potion (SLP) token that allows you to breed Axies.
- Second, the Axies NFTs which are the heart of the economy. On Axie Infinity’s NFT Marketplace, their prices can range from $60 to over $300.
- Finally, the Axie Infinity token ( AXS ) which is the native blockchain game governance token. It is sometimes referred to as Axie Infinity Shard.
In addition, players can purchase NFT land to perform their activities there. However, it is often the most expensive item in the game, and is therefore reserved for the wealthiest players.
AXS and SLP tokens are earned by playing the game . That said, players can also stake their AXS, or use them to vote on development proposals or pay game fees. money in a bank account. As a staking reward, players receive an additional amount of AXS tokens. This encourages them to support the whole ecosystem.
There are 270 million AXS tokens in total . 21% are owned by Sky Mavis, which uses them as a financing vehicle. Regarding the Play To Earn show, 20% of the AXS were awarded over 4.5 years. Currently, 1 SLP is worth $0.0187, while 1 AXS is trading at $75.45.
If someone plays Axie Infinity every day, they can earn around $400 per month . Suffice to say that Axie Infinity is a very complex world. Each of the elements of Axie Infinity deserves its own guide, which is why this cutting-edge NFT game has become so popular.