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What is Axie Infinity (AXS)? Everything You Should Know



Axie is a cryptocurrency game in which you can make money by playing it. In other words, it is a play-to-earn game.

Playing to make money is a relatively new concept in gaming, but it’s catching on. Players in these games earn cryptocurrency tokens, which they may then trade for real money on decentralized markets.

Axie Infinity is a game that can be played on Android phones, iPhones, and computers. Its main gameplay is heavily influenced by Pokémon: you have a squad of three Axies with varying abilities that you battle against either computer-controlled opponents or other real-life players.

Axies are charming creatures that players own in Axie Infinity. Each Axie is a non-fungible token (NFT), meaning it is a one-of-a-kind digital collectible. Axies can be bred and battled, as well as can be used in quests for resource farming.

Axies come in a variety of shapes and sizes, with over 500 body parts to choose from, including aquatic, beast, bird, bug, plant, and reptile parts. Axies can have any combination of body parts, making them highly changeable and often uncommon and unique. Parts from each type class come in four different rarity scales: common, rare, ultra-rare, and legendary.

Within the game, there is an entire economy (a world called Lunacia). In Lunacia, players can purchase land or breed Axies with their in-game tokens, Smooth Love Potion (SLP) and Axie Infinity Shard (AXS).  Because the tokens are valuable, gamers can also utilise the tokens to pay for things like rent or food in real life.

Axie Infinity Shards (AXS) are the unique governance tokens for the Axie Infinity ecosystem. These will offer holders a say in how money in the Axie Community Treasury is spent and will be utilized to participate in critical governance decisions.

Axie Infinity’s Founders

Sky Mavis, a technology-focused game developer with a staff mostly rooted in Vietnam, founded Axie Infinity in 2018. Trung Nguyen and Aleksander Larsen co-founded it.

The platform’s current CEO is Trung Nguyen. Before starting Axie Infinity, Nguyen earned a BS in computer software engineering and worked as a software developer at Anduin Transactions.

Aleksander Larsen, a former competitive player, is acknowledged as a co-founder and COO of the platform. Larsen has worked in the blockchain gaming industry since 2017. He previously served as the executive security officer for the Norwegian Government Security Organization and is currently the Secretary of the Blockchain Game Alliance’s Board of Directors.

The Axie Infinity team is made up of 25 full-time individuals, several of whom have prior game development expertise.

What distinguishes Axie Infinity from other types of games?

Non-fungible tokens, or NFTs, are used in the Axie Infinity formula. Simply defined, an NFT certifies that a digital item is the one and only original copy.

NFTs are the monsters or Axies in the game. This means that an Axie you breed using the game’s breeding mechanics will be minted as an NFT, making it a one-of-a-kind digital object.

The “Charlie Bit My Finger” YouTube video, which sold for more than $760,000, is an example of a popular digital asset that was coined as an NFT.

Each Axie is equipped with six out of the hundreds of possible body parts, each with its own battle move. This results in an almost infinite variety of Axies, with the majority having very low stats and those with the strongest combination of body parts having fantastic stats.

To help manage the population of Axies, each Axie can only be bred seven times, unlike some other blockchain-based battling and breeding games.

Axie Infinity features its own mating hub to assist players in finding a suitable partner with whom to breed their Axie in order to increase their chances of generating a rare or strong offspring. To breed Axies, you’ll need 0.005 ETH and Small Love Potion (SLP) tokens.

How Secure Is the Axie Infinity Network?

The ERC-20 token Axie Infinity (AXS) was introduced on the Ethereum platform. As a result, Ethereum’s proof-of-work (POW) consensus mechanism protects it.

Axie Infinity intends to transition its NFT tokens, such as Axies, Land, and other in-game item tokens, from the Loom Network to Ronin, a custom-built Ethereum sidechain.

Ronin is an Axie Infinity-only application-specific sidechain. It’s being built by Sky Mavis, the company behind the Axie Infinity game, and it’s meant to facilitate near-instant transaction confirmations, lower gas prices, and help Axie Infinity scale.

How can I get Axie Infinity (AXS)?

AXS has been listed on several cryptocurrency exchanges, however, unlike other major cryptocurrencies, it cannot be purchased directly with fiat money. You can still buy this coin by first purchasing Bitcoin, Ethereum, or USDT on any major exchange and then transferring to an exchange that trades this coin. Binance is one of the major exchanges that you can use to buy Axie Infinity (AXS).

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What Exactly Is Arbitrum?



Ethereum is a well-known platform for creating decentralized applications (DApps). However, due to a rapid increase of its users in recent years, the network has been pushed to its ultimate limits, causing transaction costs to skyrocket and widespread congestion.
Some believe that on-chain changes and improvements are the best approach to expand Ethereum, however, others are opting for second layer alternatives.

Although they differ widely in terms of appearance and purpose, one such option, known as Arbitrum, has begun to gain attention.

What Is Arbitrum?

It is one of the layer 2 solutions that enhances the capabilities of Ethereum smart contracts by increasing their speed and scalability while also providing extra privacy features.
The platform is meant to make it simple for developers to run unmodified Ethereum Virtual Machine (EVM) contracts and Ethereum transactions on a second layer and at the same time taking use of Ethereum’s superior layer 1 security.

It’s designed to address some of the current Ethereum-based smart contract’s problems, such as inefficiency and high execution costs, which have harmed the Ethereum experience for users and frequently make transactions costly.

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NFT Gas Prices: What Are They? Getting To Know Ethereum, Gas, And Gwei



What exactly is ETH Gas?

The Ethereum network uses the Gwei as a unit of gas. Miners need gas to process transactions, which is one of the main differences that seperates Ethereum from other cryptocurrencies such as Bitcoin.

“How much gas you’ll need depends on the size of the contract you’re aiming to complete and how quickly you want to complete it.” The price usually reduces if you’re patient enough to wait for a transaction to finish. Both NFT art makers and collectors benefit from understanding this idea.

If we want to have a look at the technical side, Ethereum’s native currency, ether (ETH), is used to pay gas fees. Gas costs are expressed in Gwei, which is an ETH denomination — one Gwei equals 0.000000001 ETH (10-9 ETH). Instead of claiming that your gas costs 0.000000001 Ether, you may say that it costs 1 Gwei.

Why is there Gas?

The gas in Ethereum is a crucial regulator that prohibits spamming the network. All Ethereum computations push the security measure to its limit. Gas limits, which are paid for with each computational execution, have the mission to ensure that bad individuals do not exploit unsorted amounts of processing power to become de-facto coders on the Ethereum network and corrupt the future they worked hard for creating.

Why Gas is so important for NFT arts and artists?

Gas has two sides to it. When gas costs are rising, it is difficult for uprising artists to generate, mint, and even purchase other works. Some artists try to include the cost of gas into their paintings (which indicates that they are ready to lower the cost of their art, to make their art easier to buy.) This creates a catch-22 because the art’s perceived “worth” is reduced when collectors are deciding whether or not to spend 25-57 percent of the overall purchase price on gas. Artists aiming to build a reputation for themselves face a difficult situation in this regard. On the other hand, artists might overcharge while selling their work (paying higher marketplace and gas costs) in order to get their work published before they have built a reputation for themselves to be able to charge that much.

Overwhelming and Absurd NFT Gas Cases

We’ve seen gas costs exceed the cost of a piece of art being created in some cases, leaving artist in a very difficult situation to put their work online. Actually, making it impossible for the artist.

Solutions for NFT Gas

Allow the NFT Artists to have more power when their work is minted. Many marketplaces only let artists to create something at the very moment they click mint. Artists should be able to choose how long they want to wait for network congestion to clear before publishing. This is already implemented in NFTGateway (As far as I know). The painting isn’t minted until it has been bought during a drop. The art might not appear in wallets instantly, the transaction might take 24 hours. While we haven’t experienced such a long wait, we have seen up to two-hour waits for costly drops expectations.

The User receives back any unused gas

Finally, it’s essential to emphasize that not all transactions use the total gas supply. This should be better stated, and we’ll need to undertake further studies to find out what proportion of gas is returned on average. However, you’re essentially accepting to a maximum amount of gas fees that you’ll pay to complete the deal.


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What is Play-To-Earn (Play2Earn) All About? Begginer’s Guide



The play-to-earn business model promotes the idea of an open economy by rewarding players who contribute to the metaverse’s value.

Play-To-Earn (Play2Earn) games are a type of gaming in which a platform allows players to earn any type of in-game property that can be transferred to the real world assets that has value like money.

Play-to-Earn Crypto Gaming: Begginer’s Guide

Video game business models have evolved to a whole new level as technology has become more widely accessible to the public. Before, people were able to play games only in certain gaming areas on arcade machines. With a bag full of quarters, gamers would compete for the highest score. But, as technology advanced, games were introduced to our smartphones, PCs, and gaming consoles such as the PS5, Xbox, and others.

What Is Play-to-Earn Gaming?

In the blockchain ecosystem, a new game paradigm known as play2earn is currently being seen around the world. It effectively allows participants to profit from their participation in games. By participating in the in-game ecosystem and earning assets for their contributions, players create value for other gamers and developers. Coins and accessories that have been tokenized on the blockchain are examples of digital assets. As a result, blockchain games and the play-to-earn business model support each other effectively.

Play to Earn Games

Axie Infinity is an excellent example of a play2earn game. Axies are charming animals that players buy, breed, and combat for rewards in this game. Each Axie is a non-fungible token (NFT), which means it’s a unique digital collectible. There is an entire economy within the game (There is a world known as Lunacia).

Users can use their in-game tokens, Smooth Love Potion (SLP), and Axie Infinity Shards (AXS) to buy land and breed Axies in Lunacia. In addition, these tokens are not just useful in the game, they are also useful in real life.

Play-to-earn games, such as Axie Infinity (AXS), are already assisting people all over the world (particularly those who live in countries affected by the current pandemic severely) earning a significant amount of money. People in the Philippines are making $1,500 to $2,000 per month playing Axie Infinity as a hobby, according to estimates. A good number of  people in Vietnam have also given up their full-time jobs as a result of these games, which pay well.

Lost Relics, Splinterlands, CryptoBlades, DogemonGo, and Sorare are some of the other NFT games.

In 2021, the NFT market will have topped $2.5 billion in revenues, and this figure is expected to rise rapidly as new NFT games hit the market. The rise of NFT is leading to a new era of revenue streams in the blockchain world, and it won’t be long before it overtakes every other major business.

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Disclaimer: ATHCrypto's content is meant to be informational in nature and should not be interpreted as investment advice. Trading, buying or selling cryptocurrencies should be considered a high-risk investment and every reader is advised to do their own research before making any decisions.