Tag: axieinfinity

What is Axie Infinity?

Axie Infinity is a Pokémon-inspired universe where anyone can earn tokens through skilled gameplay and contributions to the ecosystem. Players can battle, collect, raise, and build a land-based kingdom for their pets.
All art assets and Axie genetic data can be easily accessed by 3rd parties, allowing community developers to build their own tools and experiences in the Axie Infinity universe.
While still in early access, Axie is ranked the #1 Ethereum game by daily, weekly, and monthly active users. It has generated over 13,000 ETH in revenue (16M+ USD) so far.
While Axie is a fun game, it’s also taken on characteristics of a social network and jobs platform due to the strong community and play to earn opportunities that have come from its early success.
The key difference between Axie and a traditional game is that Blockchain economic design is used to reward our players for their contributions to the ecosystem. This new model of gaming has been dubbed “play to earn”. Axie has attracted thousands of players from developing countries in the pursuit of a new income stream during the Covid pandemic. Many of these players are fathers, aunts, and even grandparents who have never used Blockchain technology before!

Players can earn by:
Competing in PVP battles to win leaderboard prizes.
Breeding Axies and selling them on the marketplace.
Collecting and speculating on rare Axies such as Mystics and Origins.
Farming for the love potions that are needed to breed Axies. These can be sold on exchanges such as Uniswap and Binance.
Starting in 2021 players can earn a governance token, AXS, which represents a real slice of the game universe as it has governance rights and fee sharing built into it. Since players can earn this token by playing, a Ready Player one type quest emerges where players can actually earn part of the universe. However, these quests are not winner takes all and rewards each player based on their effort and skill.

Axie’s Mission
Axie was built as a fun and educational way to introduce the world to blockchain technology. Many of the original team members met playing Crypto kitties, and it was their first time ever using Blockchain for anything other than pure speculation. They soon started working on Axie to introduce the magic of Blockchain technology to billions of players.

The Vision
We believe in a future where work and play become one.
We believe in empowering our players and giving them economic opportunities.
Most of all, we have a dream that battling and collecting cute creatures can change the world.
Welcome to our revolution.

-Axie Infinity Whitepaper

Axie Infinity Shards(AXS) are an ERC-20 governance token for the Axie Universe. AXS holders will be able to claim rewards if they stake their tokens, play the game, and participate in key governance votes. Players will also be able to earn $AXS when they play various games within the Axie Infinity Universe and through user-generated content initiatives.

The goal with Axie Infinity Shards is to align the incentives between the players of the game and the developers in novel and exciting ways. The mechanisms described above have two main goals:

  • To reward players for interacting with Axie Infinity while simultaneously incentivizing them to hold on to their tokens so they can claim additional rewards.
  • To decentralize the ownership and governance of Axie Infinity.

They want Axie to become the first game truly owned and operated by the community that plays it. This opens up limitless possibilities but must be approached carefully. In the past, projects have been abandoned and become stagnant using the term “decentralization” as a ruse. The shift to a true Decentralized organization will occur gradually over time.

In early 2021, the Community Treasury will go live. The Community Treasury will begin to receive revenues generated by Axie Infinity as well as a portion of staking rewards. This treasury will be governed by AXS stakers eventually, once the network has become sufficiently decentralized. A more detailed overview of the Treasury can be found here.

The token has been designed in collaboration with Delphi Digital who has put together an AXS staking guide so future holders can view the potential of AXS at a glance.

-CAGYJAN