What is the meaning of Axie Infinity?
Players nurture, battle, and trade cute NFT creatures called Axies in Axie Infinity, a crypto-meets-Pokémon game. Axie Infinity Shards (AXS), which can be purchased and traded on exchanges like Coinbase, and Small Love Potion (SLP), which is granted to players for spending time in the game, are the two native cryptocurrencies.
In this game, the players trade cute NFT pets called Axies, which was consistently the most popular crypto app on the Ethereum blockchain in the summer of 2021.
Breeding, growing, and battling cute creatures known as Axies is the focus of Axie Infinity. NFTs are used to sell axeies and virtual real estate on an in-game marketplace. (To learn more about NFTs, click here.) The majority of transactions take place on Ronin, a fast, customized sidechain built by developer Sky Mavis to have lower fees than the main Ethereum blockchain.
How does it work?
Axie Infinity bills itself as a “play to earn” game in which players can sell stuff (such as the Axies they breed, in-game real estate, and accessories like flowers or barrels) on the game’s NFT marketplace while simultaneously earning tokens. There are two types of cryptocurrencies that are used in this game.
Axie Infinity Shards (AXS), the main token, may be bought and sold on platforms like Coinbase. To play the game, you’ll need some AXS, but you may swap them for Bitcoin, Dogecoin, or any other major cryptocurrency. AXS will also act as a governance token, allowing holders to vote on the game’s destiny.
A second token, known as Small Love Potion (SLP), is given to participants in exchange for their time spent in the game. You can earn some by defeating an opponent’s Axie or completing missions in the game. The more you play, the more SLP you’ll be able to accumulate. (While SLP is not yet available on Coinbase, it may be purchased and sold on decentralized exchanges such as Uniswap and SushiSwap.)
Sky Mavis, a Vietnamese developer, developed Axie Infinity in 2018. The game had over 1 million daily players as of August 2021.
What’s the best way to get started with Axie Infinity?
You’ll need an Ethereum-compatible crypto wallet as well as enough ETH to play. You can buy ETH on an exchange like Coinbase and transmit it to Metamask or Coinbase Wallet (which is distinct from the main Coinbase app and can be downloaded from the App Store or Google Play). (If you want to play on a computer, you can also download this Chrome extension to connect Coinbase Wallet to a web browser.)
You must purchase at least three Axies from the game’s marketplace before you can begin playing. Sky Mavis keeps 4.25 percent of all Axies, virtual real estate, and other things that users sell to one another. Axies with desirable qualities that are “rare” cost extra.
Players can also “breed” new Axies, which costs Axie Infinity Shards (AXS) and Small Love Potion (SLP), the game’s two native cryptocurrencies (SLP).
SLP may be earned by defeating other players and completing tasks.