Gaming is a new and interesting business in the realm of blockchain technology and decentralized applications, and it is also proving to be a highly sought-after, rapidly expanding ecosystem within the digital asset field.

Thus, sooner or later, it may only be natural to see the emergence of a symbiotic relationship between the very profitable, thriving gaming sector and the disruptive architecture of blockchain. In essence, this is because gaming apps built on blockchain’s decentralized frameworks enable gamers to make use of some of the most cutting-edge DeFi utilities and advantages, opening up an entirely new set of financial prospects.

In reality, throughout 2020 and 2021, blockchain-based gaming has emerged as a true force in the industry, not only due to its gamified DeFi implementations, but also because it has gradually begun to merge with the economic, creative, and relatively distinctive ideas of NFTs.

Thus, while NFT-based video gaming is not new, the recent growth of a game project called Axie Infinity has certainly caught the imagination of many blockchain enthusiasts and taken the crypto markets by storm during the last year. This is because Axie Infinity, with a current market value of $4.2 billion and predicted revenues of more than $1 billion in 2021, stands apart from any other blockchain gaming application that has come before it.

So, without more delay, let us get into the amazing endeavor that is Axie.

About Axie Infinity

When non-fungible tokens first showed indications of widespread adoption, blockchain-based NFT game Axie Infinity suddenly soared into the crypto stratosphere, and it has since remained on the radar of many crypto gamers, digital asset aficionados, and savvy investors.

In 2018, Axie Infinity emerged on the gaming landscape, proposing a revolutionary play-to-earn (P2E) concept that enthralled both the gaming and cryptocurrency communities. Sky Mavis, a Vietnamese company founded by Trung Nguyen, created Axie Infinity, which offered a unique combination of blockchain technology and gameplay, establishing itself as a pioneer in the Web3 gaming industry. 

The game uses the Ronin sidechain, an Ethereum-based blockchain designed exclusively for Axie Infinity to enable cheap costs and scalable transactions, making it more efficient than utilizing Ethereum’s main network.

Axie Infinity’s innovative notion of letting players own, trade, and earn real-world value through in-game actions ushered in a new age of gaming. As the game expanded, so did its user base, and it is now one of the world’s most popular blockchain-based games.

User Count and Community

Axie Infinity reached its pinnacle in 2021, with over 2.7 million daily active users. The game’s popularity soared as individuals realized the opportunity to make real money through games, notably in the Philippines, Venezuela, and Indonesia.

By 2024, however, the daily user population had stabilized, owing to market corrections and new rivals in the Web3 gaming area. However, Axie Infinity is a key player in the P2E market, with a strong core user base and a thriving community that continues to play the game.

Source: Priori Data

Axie Infinity’s Tokens and Future Value

The Axie Infinity ecosystem has two major tokens: AXS (Axie Infinity Shards) and SLP (Smooth Love Potion). Both play separate roles in the game’s economy and were crucial in developing the play-to-earn dynamic.

AXS is utilized for governance, staking, and serving as the primary token for specific game functionalities. Holding AXS allows users to vote on game development choices, assuring community engagement in defining the game’s future direction.

SLP, on the other hand, is gained during gaming and is mostly used to produce more Axies. SLP was once in great demand because of the game’s breeding mechanisms, which let players manufacture and sell baby Axies. Over time, the value of SLP has varied, and Sky Mavis actively works on balancing the supply and demand to ensure a sustainable economy.

Volatility is the crypto market’s biggest sufferer. It makes investing decisions and projections the most difficult. However, our independent cryptocurrency prediction will undoubtedly make things easier for you. Will the Axie Infinity (AXS) price increase? Read Axie Infinity price prediction to learn more about the AXS token’s future.

First, CoinCodex forecasted a pretty bleak short-term axie infinite cryptocurrency price. The site predicted that the token would decline to $6.84 by December 24 and $6.42 by January 18, 2023. The site’s technical analysis was bearish, with 22 indicators generating negative signals and only eight sending positive ones.

Next, DigitalCoinPrice predicted that the AXS coin will sell for $7.84 this year, $16.50 in 2023, and $24.44 in 2024. According to the site, by 2025, Axie Infinity might be valued at $30.15 and remain there until 2026, before starting its increase to $35.64 in 2027 and $49.99 in 2028, potentially completing the decade at $69.75.

How can play Axie Infinity?

Axie Infinity’s gameplay consists of turn-based fights in which players employ their squad of three Axies to vanquish opponents. Each Axie belongs to one of several classes (such as Beast, Plant, or Bird) and has four distinct skills in the form of cards that determine what actions they may take in battle.

• Install the game from their official website. Axie Infinity is now played on both PCs and smartphones.
  
  
• Next, you’ll need a Metamask account and a reliable cryptocurrency wallet. If you’re not sure, read our guide on the ‘best crypto wallet for gaming’. Of course, you will need to fund your wallet. 
   
• Now it’s time to purchase some digital pets. To obtain your Axies, go to the Axie Infinity Marketplace. To begin playing, you’ll need three Axies. Research the finest ones to buy. You’ll need to spend some time with these Axies before you can obtain any other monsters.

Axie Infinity Gameplay

Axie Infinity is a combination of Pokemon Go and Hearthstone. To spare everyone’s time, we’ve summarized the gameplay in a few pointers:

There are two modes: adventure and PvP.

• In the adventure mode, you battle against PvE opponents and collect XP.
• PvPs include fighting other players for rewards.
• Every day, you receive 20 Energy Points that can be used in any mode.
  

Axie Infinity’s play-to-earn model is largely driven by its reward system. Players may earn SLP and AXS by engaging in fights, completing daily chores, and raising their rankings, which they can then sell or use to breed and upgrade their teams within the game.

What Do Axies Do?

Axies are fantastical animals that players can collect, breed, train, and utilize in battle against other players. Here’s a brief summary of what Axies do in the game:

Battle: Players employ their Axies to engage in turn-based combat with other players or computer-controlled opponents. Each Axie has unique characteristics and talents that influence its combat strength.

Breeding: Players can combine two Axies to produce new babies. The new Axies acquired characteristics from their parents, such as powers and looks, and may be utilized in battles or sold in the market.

Collecting: As Axies have unique characteristics and looks, some are more uncommon than others. Players can gather several Axies, including those with distinct or useful characteristics.

Earning: Axie Infinity follows the play-to-earn concept. Players can earn cryptocurrency by winning fights, completing chores, or breeding and selling Axies on the marketplace.

Axies are non-fungible tokens (NFTs) on the Ethereum blockchain, which means they are unique digital assets that players genuinely own and may be exchanged both inside and outside of the game.

Web 3 Integration and Blockchain Mechanisms

Axie Infinity’s seamless integration with Web3 technology distinguishes it from traditional games. The game runs on the Ronin sidechain, which was created to alleviate Ethereum’s difficulties with high gas prices and network congestion. This has enabled Axie game to expand dramatically while maintaining seamless transactions for users.

Web3 integration extends beyond the token economy, with the game stressing actual digital ownership of game assets. This technique provides players complete ownership over their assets, as opposed to typical games, where the game creator owns and controls the assets.

In 2024, Axie Infinity will continue to innovate with Web3 mechanics. Sky Mavis is investigating cross-chain interoperability, which would let players shift their assets between other blockchains. In addition, the team is developing staking methods for AXS, which will allow holders to receive passive income while also contributing to governance.

Pros and Cons of Axie Infinity

Given Axie Infinity’s popularity, you will be tempted to play the game as quickly as feasible. However, P2E games require an investment. This is why you should assess the benefits and drawbacks before investing your time, money, and effort.

Advantages of Axie Infinity

Compatibility between platforms

The Axie game is played on Windows, Android, and iOS. You may also play the game on an iPad or MacBook. This means you can play the game on all main platforms. The creator intends to make it accessible to a wide range of gamers.

The P2E Model

Axie Infinity’s key selling point is its play-to-earn crypto games. For many people, peer-to-peer games provide a passive income. By playing the game correctly, many players can make a significant sum of money. AXS (Axie Infinity Shards) and SLP (Smooth Love Potions) can be exchanged for Ethereum (ETH).

Engaging gameplay

Axie Infinity’s first ‘positive’ is its intriguing gameplay. As previously said, Axie Infinity is similar to Pokemon games but incorporates components of Hearthstone. The majority of the game focuses on PvP fights and Axie breeding. The side missions and PvE features are enough to entice players and keep them interested.

Your pets are NFTs

The Axies you buy, gather, and breed are all NFT assets. Axies can be resold to other players for profit. This also implies that the Axies you have are a collection of NFTs at a reasonable price. If the game continues to do well, you will benefit from the collection.

Disadvantages of Axie Infinity

And here’s why you might have second thoughts about joining the digital pet world.

Capped earnings

As previously noted, users may earn AXS and SLPs by completing daily quests, and chores, and winning PvP battles. However, the creators have set a daily earnings limit for these activities.

In addition, to gain money from the game, you must invest time and effort. To gain 40 to 50 SLPs, you must perform daily duties, play a few adventure levels, and participate in a few PvP battles. Consistency is required to turn it into a reliable source of revenue. Not everyone has time to play.

High entrance costs

Axie Infinity, like many other similar play-to-earn crypto games, requires an entry fee. Before you begin playing, you must purchase three Axies. Initially, those three Axies would cost you around $500. However, the rapid popularity has boosted the cost by at least two to three times.

This serves as a barrier to entrance. However, some players just pay other players to play the game for them. If you don’t want to invest in Axies right now, seek people who will lend you their Axies.

Axie Infinity and The Future of Gaming

Axie game not only pioneered the play-to-earn paradigm but also established the viability of Web3 integration in gaming. It symbolizes a new horizon in which gamers own digital assets and may earn real money through in-game actions. This has major implications for the future of gaming.

By 2024, Axie Infinity plans to expand its Lunacia land project, which would allow people to own virtual land and participate in a larger digital market. As the game industry embraces blockchain technology, Axie Infinity is expected to remain at the vanguard of this change, combining entertainment, economics, and community into a seamless experience.

Closing Thoughts

Axie Infinity has built the foundation for the next generation of gaming, allowing players to earn and own their in-game assets. Its use of blockchain technology and decentralized mechanics has not only transformed the game industry but also created new opportunities for digital economics. Despite its limitations, Axie Infinity’s originality and loyal community position it as a key participant in the future of Web3 gaming.