Blockchain gaming is a confluence of two industries with recent exponential growth. The ascension of the blockchain has been remarkable, while gaming is now worth billions of dollars, rising rapidly. One of the rising stars in this arena is Axie Infinity (AXS). The blockchain promises to transform the power dynamic in the gaming scene dramatically. Developers now have unprecedented tools to create solutions and raise funds while users control in-game items. These tools add versatility to this innovative sector. Additionally, online gambling platforms such as BC.Game allow gamers to conveniently wager on their favourite casino games.
About Axie Infinity (AXS)
One of the successful games of the 21st Century was Pokémon Go. If you are remotely interested in gaming, you must have noticed the mania that gripped fans in the mid-2010s. “Catching a Pokémon” became a buzzword far and wide. Iconic stuff inspires people! Accordingly, Axie Infinity developers took cues from the success of Pokémon Go to create a unique game. This game features open-ended, massively flexible gameplay. Gamers can collect digital pets (Axies), raise them, battle and even trade on the ballooning Axie ecosystem.
Axie has exploded in popularity, rising to the number one Ethereum gaming dApp by weekly on-chain volume. Such is the craze that this game got in early August 2021. The platform certainly seems to be a chip off the old block. Pokémon Go, on a larger scale, aimed to target those who want a fun experience. Axie Infinity is also fun, accessible, and educational in the workings of the blockchain.
Axie Infinity Tokens
The two main tokens on this platform are Axie Infinity Shards (AXS) and Smooth Love Potions (formerly Small Love Potion) (SLP). AXS is the native governance token that allows holders to participate in governance. Governance is vital for decentralisation and the democratic development of the platform.
SLP tokens are the fuel of the gaming side of things. Players earn SLP and can use it for breeding new Axies. The duality of tokens allows the platform to share roles and grow meaningfully. Both are ERC-20 tokens that users can trade easily. The development team executed its token sale on the Binance Launchpad. Binance is one of the largest exchanges in the world. Accordingly, this platform gave Axie the exposure necessary to launch successfully. Notably, the final stage raised $2.97 million.
Sky Mavis, a technology-focused game studio, developed the technology that makes this ecosystem tick. Prominent figures in the project include entrepreneur and engineer Trung Nguyen, the CEO, Aleksander Larsen (COO), and Viet Anh Ho, Sky Mavis’ CTO. In the long run, AXS token holders will have a versatile tool that can play many roles. Some of the salient functionalities include:
- Governance- This function effectively allows token-holders to participate in governance. Stakers will participate in network governance and make decisions surrounding future developments. Sky Mavis intends to relinquish its majority vote by late 2023, delegating governance to a decentralised organisation. Some major decisions include how the platform spends treasury funds and priority features.
- Staking rewards- AXS holders can soon stake their tokens and earn rewards depending on their staked amount.
- Purchase eligibility- AXS holders can purchase various items in the gaming ecosystem. .
Axies (AXS) are Non-Fungible Tokens
The concept of NFTs plays a vital role in this platform. Each Axie is an NFT and uses the ERC-721 standard. NFTs allow the creation of unique tokens that can’t have the interchangeable character of standard tokens and fiat money. This lack of fungibility is all-important in gaming. In-game items must be unique to have the value gamers ascribe to them. Users battle for the Axies because each is unique.
Think of them as sports memorabilia that captures specific moments. Each Axie has four different stats: Health, Morale, Skill, and Speed. These metrics play a vital role in the mechanics of each Axie as they determine the complexity of the battles. There are several classes of Axies, each with unique strengths and weaknesses. The different capabilities make getting to Axies all the more endearing.
Their physical features in the virtual world determine their ability to wage battle. Those who play the game can appreciate these diverse beings’ true complexity and sophistication. Like Pokémon Go, there are rare Axies that a player getting is like striking a goldmine. For example, the quadruple mystics (#991) is reportedly listed for sale at 5,000 ETH.
In addition to the games, the developers are working on Lunacia SDK, allowing players and developers to create other game experiences using Axie Infinity art assets. The platform itself is constantly upgrading and updating. Improving the gaming infrastructure and systems communication is a natural part of the evolution of any blockchain platform.
Blockchain technology is proving to be more than just a medium for securing cryptocurrencies. Developers are creating popular solutions that capture the tech world’s imagination. Axie Infinity is opening up a frontier for blockchain gaming. Even though blockchain games are more democratic, they struggle to match the appeal of dominant gaming studios. Axie Infinity is trying to beat one of them at their own game. Their success is a testament to good innovation and execution. Gamers hoping for a fun, efficient, and participatory system to actualise their gaming interests. This platform could be a trailblazer in that regard. It will be fascinating to watch its trajectory moving forward.