GameFi, a niche segment in the Web3 gaming space, is all about blockchain games or play-to-earn games that allow users to earn crypto by playing games. Axie Infinity is a P2E game where players can earn in-game tokens SLP and AXS, besides earning staking rewards. Let’s learn more about this blockchain game that has upended the gaming industry.
What is Axie Infinity?
Axie Infinity is a game built on the Ethereum blockchain that allows players to breed, raise, battle, and trade Axie creatures. Each Axie creature possesses unique traits and abilities in the Axie gaming ecosystem and players can shape their Axies via breeding and adding other accessories. The popular blockchain game was launched in 2018 by the Vietnamese firm Sky Mavis, drawing inspiration from the Pokemon game series.
Axie Infinity, which offers a unique blend of blockchain gaming with real-life reward mechanisms and a fun and immersive gaming experience, has attracted millions of users worldwide.
Axie Infinity tokens: AXS and SLP
The Axie Infinity ecosystem has two in-game tokens, Axie Infinity Shards (AXS) and Smooth Love Potions (SLP). Let’s learn about them in brief.
Axie Infinity Shards (AXS)
AXS is the game’s native governance token that confers players voting rights on game-related decisions. Holders of AXS tokens hold governance rights and automatically become a part of Axie’s decentralized organization, helping the overall development of the platform. Players can earn AXS by participating in in-game activities and competitions and also stake their AXS to earn staking rewards. AXS is an ERC-20 token standard that is tradeable on the Ethereum network.
Smooth Love Potions (SLP)
SLP is also an ERC-20 token used within the Axie Infinity game. It serves as an in-game currency for breeding new Axies that can be converted into cryptocurrency and traded on crypto exchanges. Players of Axie Infinity can earn SLP tokens by winning battles and completing quests.
What is Lunacia?
Lunacia is the name of the virtual planet that is the setting for the Axie Infinity gaming world. It is inhabited by the Axie creatures which players of the game breed, battle, and trade in the Axie gaming ecosystem. In this La La Land, the virtual environment is divided into tokenized plots of land, which players can buy, sell, and develop.
There are four types of land in Lunacia—Savannah, Forest, Arctic, and Mystic. Besides, the Lunacia software development kit (SDK) allows third parties to develop games using Axie Infinity assets.
How to play Axie Infinity?
To start playing the Axie Infinity game, players must first purchase three Axie creatures from the Axie Marketplace. To purchase three Axies, follow the steps below:
How to buy Axies?
- Buy Ethereum (ETH) from a crypto exchange like CoinSwitch.
- Create a digital wallet like MetaMask to deposit your ETH.
- Create a Ronin Wallet account, a sidechain built specifically for Axie Infinity, and transfer your ETH from MetaMask using Ronin Bridge.
- Go to the Axie Infinity website and log in using your Ronin Wallet.
- To start playing the game, purchase at least three Axies from the Axie Marketplace using your ETH.
- Download the Axie Infinity game and install it on your device, be it a phone or computer.
Axie Infinity battle mechanics
Much like the Pokemon game that inspired the game, the Axie Infinity battle system is a turn-based card game where a team of three Axies must defeat all opponents to win. At each turn, players strategically play cards to maximize their chances of victory.
Understanding Axie Infinity creatures
Each Axie creature in the Axie Infinity game possesses unique traits and abilities. Axies are categorized into different classes and stats to help players understand the different Axie creatures and strategically leverage each one’s unique strengths during battles.
Classes: There are nine categories to which Axie creatures belong—reptiles, plants, dusk, aquatic, birds, dawn, beasts, and bugs. Each class has its strengths and weaknesses vis-a-vis other classes, influencing battle outcomes.
Stats: Each Axie has four stats:
- Health (HP): This will decide how much damage an Axie can take before being knocked out.
- Speed: Speed determines the turn order in battles; faster Axies get to attack first.
- Skill: The more skillful an Axie is, the better it is at defeating other Axies in battles.
- Morale: Increases critical hit chance to knock down the opponent with one hit.
Body parts: Axies have six body parts; eyes, ears, horns, mouth, back, and tail. The parts determine their stats and abilities. Each part can belong to different classes, adding to the Axie’s versatility.
How to earn on Axie Infinity?
Axie Infinity follows a play-to-earn model. Essentially, there are daily quests through which players can earn the in-game token SLP. Additionally, players could earn up to 50 SLP daily in adventure mode.
Apart from the daily quest, there are other ways to earn on Axie Infinity, including:
Breeding and selling Axies
Once you acquire Axies from the Axie marketplace, you can breed the Axie creatures to sell them for a profit. However, it is important to note that breeding Axies is not free and one needs to pay AXS and SLP tokens as fees. Players can breed two Axies to obtain a new Axie which is unique, pushing their market value up. However, breeding an Axie requires the player to follow certain rules to prevent overpopulation. Players can list the newly bred Axies on the Axie Marketplace and earn a profit. The most expensive Axie called Angel was sold for around $120K at the time of sale.
Creating an Axie Scholarship Program
Want to earn AXS and SLP tokens, but don’t have the time or talent to play the Axie Infinity game? Well, there is a way to earn these tokens without playing the game or purchasing them from an exchange. With the Axie Scholarship Program, players can lend their Axies to players (scholars) and share the earnings. Basically, scholars play the game using the player’s Axies and earn SLP. They agree on sharing the profit and both parties earn Axie tokens.
Investing in Lunacia
Investing in land can be profitable, even in the virtual space. The land in Lunacia works much like real-world real estate to generate income for Axie gamers. All a player has to do is buy land on Lunacia and develop the land to increase its value and attract other players. Players can sell their land or rent it out to host events and activities that generate income.
Staking AXS
The AXS tokens that you accumulated from playing the Axie Infinity game or acquired via crypto exchanges can be staked to earn staking rewards. Staking is the simple act of locking up crypto tokens to earn rewards. Players can stake their AXS tokens and receive staking rewards, including other in-game benefits.
Conclusion
Axie Infinity is a unique blend of gaming, crypto, and non-fungible tokens (NFTs). Thanks to its popularity among gamers and crypto enthusiasts, it has dominated the play-to-earn (P2E) gaming sector for the past few years. The game’s token AXS has grown by leaps and bounds, securing it a position among the top 100 cryptos by market capitalization. With the future of blockchain gaming gleaming with potential, Axie Infinity is poised to play a vital role.
