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WHAT IS AXIE INFINITY?


A BLOCKCHAIN-BASED GAME CALLED AXIE INFINITY HAS TAKEN OVER THE CRYPTO SPACE AND
IS CURRENTLY DOMINATING THE NFT WORLD. BUT, WHAT IS IT EXACTLY? 

By

Dijo Songco

Jul 8, 2021 at 5:48 AM GMT
4 min read
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A blockchain-based game called Axie Infinity has taken over the crypto space and
is currently dominating the NFT world. But what is it exactly?

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Axie Infinity, created by Sky Mavis back in 2018, is a turn-based RPG game that
allows users to buy, sell, trade, breed, and battle cuddly digital pets called
“axies”. These axies are NFTs or non-fungible tokens that have completely
dominated the crypto space over the past few months. In the past 30 days, it has
been the top-selling NFT in the entire space (via crytoslam.io) and has amassed
a whopping $200,000,000 worth of sales.

Its main token called AXS (Axie Infinity Shards) has nearly quintupled over the
past two weeks from $3 to as high as $15 as of writing (via coinranking.com)
which puts the total market cap of AXS at a staggering $874 million. Add to
that, Small Love Potion tokens or SLP, Axie Infinity's in-game ERC-20 token, has
ballooned from a $0.1 value to $0.2 within the same duration.




HOW DOES AXIE INFINITY WORK?

In a nutshell, Axie Infinity is an adventure-based game that has multiple layers
of tactical strategies. Its play-to-earn gameplay, which people have likened to
Pokemon or even CryptoKitties, revolves around your digital pets aka axies that
have a unique set of skills and powers. To begin your journey in the Axie
universe, you will have to acquire a team that consists of three axies. Right
now, the floor on each adult axie–meaning a pet that's ready to go, can go for
around 0.1 ETH each ($220) to as high as 0.2 ETH ($450).



Users have the option to level up their axies through the Adventure Mode (PVE)
where you will have to climb the ladder and go through different levels or, in
this case, Ruins. Users are able to farm as low as 1 SLP to as high as 20 SLP
per each accomplished Ruin depending on the level.

On the other hand, axie owners can also opt to put their axies to the test by
going through the Arena Mode (PVP) where users basically battle with different
users on the platform. Each win in Arena Mode not only improves your MMR or
Matchmaking Rating, it can also reward you a certain number of SLPs depending on
your MMR (it can be as low as 0 to as high as 12 SLP per win). Obviously, each
loss also brings down your MMR rating so tread lightly.

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There are also other ways to earn or farm SLPs on a daily basis like completing
a Daily Quest or even conquering different levels in Adventure Mode.


SCHOLARSHIPS



One of the biggest reasons why Axie Infinity has gone to, well, infinity is due
to its successful Scholarship Program which was launched and spearheaded by the
community in January 2021. To put it simply, axie holders are allowed to farm
out their pets to scholars through different profit-sharing methods.

This scholarship program empowers people who do not have enough access to enter
the game, still play and earn without the necessary capital. And, at the same
time, axie owners can make the most out of their assets instead of simply
“parking” them or having them stay in their personal collection by renting them
to people who are willing to grind on a daily basis. Though it's not a
fool-proof system, it's a win-win scenario that has made Axie Infinity a
household name throughout the NFT universe.

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In the Philippines, Axie Scholarships have completely taken over and have been a
legitimate source of income over the past year–especially with the rise of
unemployment due to COVID-19. Scholars earn around $300 per month for playing
the game for 1-2 hours per day, on average while owners or managers also get a
fair share.

> “It sounds too good to be true but the Axie Scholarship Program has definitely
> been not just a game-changer, but a life-changer as well here in the
> Philippines,” says Joseph Tiempo of The Kings NFT – a local NFT/gaming
> collective that has onboarded a total of 100+ scholars in the past two months.

If you still have doubts, then we'll make sure to write you a letter from the
moon because it seems that Axie Inifinity going to the cosmos is a matter of
‘when' not ‘if'.

Tag: NFT
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