The Axie Infinity game, which is based on a blockchain and uses Non-Fungible Tokens (‘NFTs’), is one of the most well-known Web 3.0 platforms. The Axie Infinity ecosystem’s popularity has exploded in recent years.
Due to employment dislocation caused by the Covid-19 outbreak, the platform really gave inhabitants of the Philippines with a way to make money. They made so much money that the government deemed the revenue collected via this platform to be taxable.
Axie Infinity is worth looking at for the gaming and the possible return on investment as axie infinity coin price, with roughly three million daily active gamers and $3.6 billion exchanged via its in-house NFT marketplace (as per its official homepage).
Core Concepts of the Axie Infinity Game
Axie Infinity is a Play-To-Earn game based on a distributed ledger (also known as a blockchain), in which Axies are represented as non-fungible tokens (NFTs) that are held on the blockchain. The in-house peer-to-peer marketplace may be used to sell axes. The Axie game is based on the Ethereum blockchain, and Axies are valued in ETH, Ethereum’s native money.
Without learning several crucial words, you won’t be able to play Axie, therefore let’s go through them:
- A distributed ledger is sometimes known as a blockchain. Decentralization is a key aspect. The blockchain allows transactions that are safe, secure, and pseudo-anonymous without the need for a third party to verify them. Because of these characteristics, it may be used to replace transaction data storage in any industry.
- Non-fungible Tokens — A blockchain-based digital asset. It’s comparable to a cryptocurrency, except instead of a handful of identical copies, each coin is one-of-a-kind. They can’t be copied or destroyed either. As a result, it may be used to represent ownership of any digital asset on a blockchain, such as an Axie.
- Play-to-Earn — A gaming income generating concept that is sometimes abbreviated as “P2E.” Gamers are compensated for their time in this contemporary gaming paradigm. Traditionally, gaming platforms merely collected money from users with little chance of getting anything in return.
- Cryptocurrencies/Tokens – Unlike NFTs, cryptocurrencies and tokens of the same class may be exchanged. For example, one Bitcoin will always be one Bitcoin, and all Bitcoins, like a handful of pennies, are identical. The Axie Infinity Shard ($AXS) is the name of Axie Infinity’s cryptocurrency. In the Axie ecosystem, the $AXS crypto governance token is utilized to collect benefits and even vote. The axie infinity coin price, like other tokens, may fluctuate. The site also employs Smooth Love Potions ($SLP) to breed NFTs in addition to the $AXS crypto token. The price of the $SLP cryptocurrency might also fluctuate.
- Staking – Staking tokens locks them and prevents them from being moved or exchanged. You’re putting people to work, and you’re being paid for it. It’s similar to earning interest on traditional bank savings, but it’s faster and better integrated into a superior blockchain ecosystem.
Gameplay of Axie Infinity
To get started, you’ll need to download Axie Infinity, create a digital wallet, and buy Axies. After completing the setup and downloading Axie Infinity, you may participate in three-on-three battle with other Axie teams. Player versus player (PVP arena mode) and player vs environment (PVE mode) are the two main gaming styles (PVE adventure mode).
Energy units are crucial to the game. You create more energy the more Axies you have. Going to combat costs one energy unit. This energy is required to obtain awards and experience points in the Arena and Adventure modes, respectively. You may fight without any energy, but you will not get $SLP.
Each Axie has four cards that reflect specific abilities throughout the combat. You may play four cards at once, but players must be strategic in how they use their energy (most cards cost one energy to play). The goal of the game is to eliminate all of your opponent’s Axies before they eliminate yours.
The game has several tactical features. For example, having a “Tank” in the front line is often suggested due to their tremendous defensive qualities. You will be placed in arena battles against people of comparable skill levels, so you won’t have to worry about your opponents being much stronger.
Advantages of Axie Infinity’s Gameplay
There are several reasons why the Axie Infinity game is so popular, and they aren’t just about the money. Due to its DNA, each Axie NFT has its own strengths and limitations, and you may even breed Axies to make kids. Axie is divided into six different categories: Bugs, Beasts, Birds, Plants, Reptiles, and Aquatics are only a few examples.
Each Axie is made up of four components, each of which represents a unique power. When buying Axies, keep in mind that the most powerful ones will have many sections that all operate together. An Axie with four components of a similar sort, for example, will inflict 15% greater damage.
There are also open tournaments, as well as the opportunity to gain uncommon riches in adventure mode. You may even rise to the position of land baron and establish your own empire. Axie Infinity is constantly expanding its online environment, and the best way to learn the game is to start playing.
The Axie Infinity Cryptocurrency Exchange
For the selling of Axies, land, and assets, Axie Infinity has its own in-house marketplace. Lunacia is the name of the Axie universe. As of November 2021, the Katana Axie marketplace is also operational. On Ronin, Katana Axie is a decentralized marketplace that facilitates the trade of Axies. You will need ETH to acquire Axies on a marketplace like Katana Axie.
Remember that Axie Infinity is not a free platform, while the Katana Axie marketplace lowers expenses somewhat. Your Axies need an initial investment. You may need between $700 and $1,000 to get started. This is due to the fact that you’ll need three Axies, each of which costs between $200 and $350.
Additionally, keep in mind that there are two Axie Infinity coins. Both Axie Infinity coins have distinct purposes. The $AXS crypto coin is the first. The $SLP crypto token is the second. The price of the $AXS coin, the $SLP crypto, and the Axie Infinity price (the overall pricing for Axies NFTs) may all fluctuate over time. The Katana Axie marketplace and other exchanges accept these coins.