Axie Infinity: A Play-to-Earn Gaming Mascot

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Axie Infinity is one of the most successful play-to-earn blockchain games. But how exactly does it work and what are its future prospects?

  • Play-to-Earn blockchain-games have picked up over the last two years and one of its flag bearers is Axie Infinity, the game developed by Vietnamese developer Sky Mavis.
  • Axie Infinity revolves around NFTs of monsters called Axies that can be teamed up to fight other Axies, to reward players with Smooth Love Potion (SLP). This can be exchanged for cryptocurrency.
  • To ensure the transactions don’t get delayed and are affordable, Axie Infinity runs on its own blockchain called Ronin. The disadvantage is the vulnerability to being hacked. And it has happened.
  • As playing Axie Infinity requires an upfront investment of buying three Axies, the game has led to an economy where rich patrons buy Axies and loan them out to players for a cut from their earnings.
  • During the peak of the pandemic, when movement was restricted, Axie Infinity earnings were enough to sustain many daily-wage-earning families in rural Vietnam and the Philippines for months.
  • But there is a big question mark over the feasibility Axie Infinity's business model. In addition to a recent hack, the earnings per player have come down as the game gets more popular.
Articles from 5 publishers

5 articles on this topic


Want to Play Axie Infinity? Here’s What You Need to Know

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1 min read
Venture Beat

How a rural Filipino community is earning a living playing an NFT game

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3 min read

The Metaverse Has Bosses Too. Meet the ‘Managers’ of Axie Infinity

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15 min read

'Is my money gone?' $600 million theft shakes a thriving crypto community

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4 min read
The Verge

Axie Infinity’s financial mess started long before its $600 million hack

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14 min read