Axie Infinity- Get paid to play games
A Vietnam-based company named Sky Mavis made a game called Axie Infinity in 2018. The founder is Trung Nguyen. Axie Infinity raised around 10 million dollars across various ICO and sales of in-game assets between 2018 and 2020.
Axie infinity exploded earlier this year when Sky Mavis introduced the ronin side chain a layer 2 scaling solution for Ethereum specifically designed for Axie Infinity. The game itself is often described as a combination of Pokemon and Tamagochi. The difference is that you earn cryptocurrency while you play and every item in the game is an NFT that can be bought and sold on the Axie Infinity marketplace. By the time this article was written, Axie Infinity marketplace has seen more than a 3.5billion dollars in NFT sales making it the second-largest NFT marketplace by trading volume after Open Sea.
Axie Infinity highlights:
Battle: You can train your Axies to battle against each other for rewards.
Breeding: Axies are bred to create new offspring with unique capabilities and weaknesses based on the gene combinations.
Land: Like humans, Axis have land and homes too. However, they are in the virtual universe. You can purchase lands for your Axies and refurbish them over time using the resources available on the platform.
Marketplace: Axie Infinity hosts a decentralized marketplace where the NFTs can be traded with other users.
To play Axie Infinity you must purchase 3 Axie which are NFTs. There are many Axie and each class has its own strengths and weaknesses when it comes to combat. Every Axie also comes with its own set of unique physical traits which gives them additional combat abilities.
Axie Infinity has 2 different tokens: Axie Infinity Shards (AXS) and Smooth Love Potion (SLP). AXS is the governance token for Axie Infinity ecosystem. SLP is the cryptocurrency you earn while playing Axie Infinity. Besides purchasing from exchanges, AXS can also be earned while competing in battle tournaments and was the cryptocurrency sold during Axie Infinity ICO. It has a maximum supply of 270 million half of which will go to the community.
AXS token supply distribution [%]:
49% for in-game rewards by either playing or staking AXS
8% for community growth and development
21% for Sky Mavis and the team
7% for advisors
15% for the AXS private and public sales, which took place at the end of 2020.
Axie Infinity earned money from selling virtual land in Lunacia, the Axie Infinity virtual world.
Updated 7th May 2021
Q1 2020: Land and Items migrated to Ronin ✔️
Q2 2021: Axies migrated to Ronin ✔️
Q2 2021: Axie: Origin Alpha ✔️
Q3 2021: $AXS staking ✔️
Q4 2021: Land Gameplay Community Alpha
Late 2021 / Early 2022: $AXS ecosystem begins: Governance, play to earn, and mainstream release of Axie Infinity on iOS/ Android
First half 2022: Land gameplay
Second half 2022: Lunacia SDK Alpha
Use cases and applications of $AXS tokens
The primary utility of AXS tokens is governance. Unlike traditional games where the governance of the platforms is entirely upon the developers, on Axie Infinity, gamers and token holders govern the platform.
It also has a program called ‘The Community Treasury’ in the pipeline that promises to accrue value from the Axie community and distribute it back to AXS stakers. This way, the Treasury will act as a binding force that brings sustainability to the platform for the long run. Once the network is decentralized, AXS stakers will govern the Treasury.
AXS enables users to facilitate payments for in-game purchases. Axie NFT marketplace accepts it as currency. Interestingly, it will also get you into certain sales/auctions conducted by the team. The number of tokens held will determine your eligibility for these events.
Players can stake AXS on the Axie Infinity protocol to reap weekly rewards and participate in governance voting. Staking will incentivize users to hold the tokens and support the growth of the gaming ecosystem.
AXS is distributed as a reward on Axie Infinity for playing, staking, and participation in voting. The number of tokens rewarded depends on your expertise in the game and your involvement in community events. However, the distributed rewards are locked for one year. Or else, you can buy it on some exchanges as below:
1. Binance Exchange - you can purchase on Binance using your mobile phone or desktop. You only need to follow the step as instructed. You can also receive a 25% discount on trading fees using Binance Coin (BNB) instead of cash. Use the link above for a bonus 10% discount
2. Crypto.com MCO/CRO - this is a favorite for many reasons, as you can earn interest on a wide variety of coins, as well as apply for a crypto debit card. This operates similar to a pre-paid Visa card, where you top up before use, however, you can choose to top up with cash or crypto. For example, you can transfer Bitcoin (BTC) to the card and spend it like cash, or let it sit in the account and earn interest. Rates of interest on deposits vary from 2% up to 10% or more. New investors may receive up to $50 when using the above link to create a new account.
3. CoinBase is a platform to purchase using a credit card or even your Bank Account. You only need to follow the steps and link your Bank Account or Credit Card for purchasing your first cryptocurrency. Use this link and you can get AUD 13.84 in free Bitcoin when you buy or sell AUD 138.41 or more.
Congratulations on educating yourself about this crypto project through Cryllionaire.com. We also profile a few coin projects, CEO interviews and group chats on our Youtube channel [URL link https://www.youtube.com/c/cryllionairecryptoeducation ]
If you find investing on your own to be difficult or time-consuming, we have you covered! Bostoncoin is a "done for you" diversified crypto fund where you can easily invest into 30-40 coins. A professional hedge fund manager takes care of the investment, so you can take care of your busy lifestyle. Join the community and find out more at www.BostonTrading.co
You are always welcome to contact us if you would like to start learning about cryptocurrency or if you have any questions in your mind.