Imagine you're playing Pokémon and you can sell your small monster for a huge profit after
you've created, trained, and evolved it. In cryptocurrency, which may subsequently be
exchanged for fiat money. This is, in general, Axie Infinity's premise - and one of the reasons
why the game has attracted so many players and so much money.
Axie Infinity, which was founded by Vietnamese developer Sky Mavis and launched in 2018,
has recently achieved 350,000 daily active users, with 40% of them based in the Philippines.
Venezuela and the United States are two other prominent markets for the game.
You can fight either the game's controlled opponents or other players. The goal is to obtain
the Smooth Love Potion (SLP), an in-game currency that can be used to replicate your
Axies.
At the same time, the highest qualified players in the game ranking win another in-game
currency called AXS at the end of each season. And it is the acquisition of SLP and AXS, as
well as the sale of Axies and things, that allows many people to become extremely wealthy
in this game.
A Game That Uses NFTs
Part of Axie Infinity's appeal is that it uses NFTs, a tech innovation that has become a rage
among investors and entrepreneurs in recent months. Each Axie created in the game is an
NFT ("non-fungible token", token that does not expire). In other words, each creature is a
unique and encrypted piece of information that never disappears.
This feature also prevents the price of Axies and other products sold in the game market
from being tabulated, which explains why prices might soar. In addition, the game is built on
the blockchain. Simply explained, a blockchain is a unified computer network that does not
have a central server. All user transactions are registered and validated by encryption,
ensuring the traceability of these transactions and the sums involved. This makes it more
difficult to cheat the system.Transactions involving bitcoins, for example, take place on the
blockchain.
Is it true that there's a gold mine? These trades are encouraged by the game's dynamics.
You'll need at least three small monsters to get started in the game, and the only way to get
them is to buy them. When you have two Axies, you can cross them to create a third
creature, which you can then sell. The better the "genetics" of the parents, just like when
breeding horses or dogs in the real world, the better the offspring - and the higher the price.
Even the most basic Axies are quite costly. An adult (in order to employ them in battle), for
example, can purchase the Ethereum cryptocurrency for the equivalent of $210.To put it
another way, you'll need at least $569 to purchase the three initials.
