Axie Infinity: everything you need to know about AXS

What is Axie Infinity?

Axie Infinity is a blockchain-based game where players can buy, breed, and battle creatures called Axies. The game utilizes an in-game cryptocurrency called AXS, which allows players to purchase and trade Axies and use them in battles to earn rewards. 

AXS is tradable as a cryptocurrency on crypto exchanges. The game's objective? To collect the largest and most powerful collection of Axies. These Axies are then used in battles against other players. This unique and innovative game not only provides entertainment and challenges but also offers the opportunity to invest in and earn from cryptocurrency. 

How does Axie Infinity work?

Axie Infinity operates as a unique and innovative game that combines entertainment, investment, and sustainability. The platform is known for the following elements: 

• Blockchain Technology: This enables Axie Infinity to record ownership of Axies, ensuring they cannot be counterfeited or altered. 
• Breeding and Battling: Players can breed and train Axies to increase their strength. In battles against other players, users can earn rewards. 
• In-Game Cryptocurrency: AXS is the in-game cryptocurrency used to purchase and trade Axies. It is also used to pay for services and transactions within the game. 
• Sustainability: The game includes a sustainability component, where players can contribute to improving the living environment of Axies and restoring damaged landscapes. 
• Community: Axie Infinity has an active and tight-knit community of players and developers who collaborate to develop and enhance the game. 

The AXS token

The AXS token is designed to support the Axie Infinity ecosystem. It serves as a central component of the platform and is used for various functions and activities within the ecosystem, such as breeding Axies, playing games, and paying fees for using services. 

AXS is distributed through various mechanisms, including rewards for participating in the ecosystem and supporting the network by running nodes. 

The goal of the token economy is to encourage participation in the ecosystem while also creating a healthy economy where the value of AXS is supported by the activities and growth of the ecosystem.

The Technology Behind AXS

Axie Infinity is built on the Ethereum blockchain and utilizes smart contracts to ensure transparency and security. The digital creatures, Axies, are unique tokens recorded on the blockchain and can be traded and inherited. Battles between Axies are determined by a combination of smart contract rules and human input from players, ensuring fair play.

The Axie Infinity ecosystem

The Axie Infinity ecosystem extends beyond the world of gaming and encompasses various other industries and areas. Here are some examples of applications found on the Axie Infinity platform: 

Gaming

Axie Infinity offers a unique gaming experience where users can buy, sell, collect, and train digital creatures. These Axies can be used in battles against other players, with winners receiving cryptocurrency rewards. 

Farming

Users can own virtual land and start farms to feed and grow their Axies. This gaming element can be used for educational purposes, allowing children to learn about farming and the environment. 

Ownership

The unique attributes of each Axie make them unique properties. This can lead to the trading of these Axies for high prices, similar to collectibles. 

Decentralized Finance (DeFi)

On the Axie Infinity marketplace, users can trade their digital assets for cryptocurrency. This could eventually lead to new DeFi solutions on the platform, such as loans and insurance products based on digital assets. 

Creative Industry

The unique characteristics of Axies and the ability to own land can also be used for creative purposes, such as creating virtual artworks or sculptures. This creates new ways to trade and own digital art and creativity. 

Benefits of Axie Infinity

Axie Infinity offers numerous benefits for users, including: 

• Unique Collections: Collecting digital creatures to own, battle, and breed on the platform. 
• Earning Model: Players can earn Ethereum (ETH) by playing the game. 
• Community: There is a vibrant, active community of players who can trade, battle, or breed Axies. 
• Marketplace: A place where users can buy or sell items, as well as collectible digital creatures. 
• Transparency: The platform has a built-in auditing system to ensure the accuracy and security of ETH transactions. 

Drawbacks of Axie Infinity

While Axie Infinity has its unique advantages, there are also a few drawbacks to consider: 

• Complexity: The game is complex and requires a significant amount of time and effort to understand fully. 
• Resource-Intensive: The game requires substantial resources, such as powerful hardware, or may run slowly on cheaper computers. 
• Development: The game is still in its early stages, which means it may be subject to bugs and glitches. 
• Interoperability: Limited options for transferring currencies to other platforms, making it challenging for players to switch platforms. 
• Costs: The game can be expensive, with some items costing hundreds of dollars. 

Who is the founder of Axie Infinity?

The (indirect) founder of Axie Infinity is Trung Nguyen. He is the co-founder and CEO of Sky Mavis, the company behind Axie Infinity. He serves as the chief engineer and designed the game's economic ecosystem, which includes a sidechain, associated cryptocurrencies, and a play-to-earn model. 

As a child, he was influenced by Japanese culture and was a passionate gamer who analyzed game mechanics. The blockchain game CryptoKitties inspired Nguyen to create his own blockchain game, believing that this combination of economics and fun would promote crypto adoption. 

Price forecasts

In 2027 experts expect a minimal price of €4.2264 and a minimal price of €8.9340 in 2032.