Basic Introduction to Axie Infinity (AXS)
What is Axie infinity?
Axie Infinity is widely regarded as having been influenced by the renowned Pokémon video game series. Axie Infinity is a digital pet universe in which users can earn rewards in the form of tokens through competent gameplay. In addition, participants can earn tokens by contributing to the Axie ecosystem. Axie players can also combat and raise a land-based kingdom or environment for their pets. The pets are known as Axies. To begin the game, participants can buy Axies from other players in the marketplace. The game project attempts to create a platform that combines the features of a social network with a job platform. This is done in order to build a robust community and hence create gaming opportunities.
Moreover, Axie Infinity fits into the cryptocurrency space’s play-to-earn category.
Trung Nguyen, a former software engineer at Anduin Transactions, is the CEO of Axie Infinity. Aleksander Larsen also takes on the role of COO. Viet Anh Ho, the team’s CTO and a former full stack engineer at Anduin Transactions, is another executive member. Tu Doan (Art Director) and Jeffrey Zirlin are also members (Growth Lead).
Individual investors include Alexis Ohanian Sr., co-founder of Initialized Capital, and well-known investor Mark Cuban. Furthermore, top firms including Ubisoft, Aave, Binance, Samsung, Delphi Digital, and Kyber Network have joined the game project as partners.
Metrics (as of 22nd May, 2022)
The Axie ecosystem’s token is AXS, which is an ERC-20 token. It is suitable for governance, staking, and payments. AXS is an abbreviation for Axie Infinity Shard. AXS holders will be able to vote in governance votes as a governance token. As a reward for staking, players will be able to earn more tokens. Axie gamers will also be able to pay with AXS tokens.
Smooth love potion (SLP) tokens, on the other hand, are used in-game to facilitate Axie breeding. SLP can be earned in the Axie Infinity ecosystem as well as traded on multiple cryptocurrency exchanges.
Timeline of Axie Infinity
In December 2017, the development of the Axie Infinity project began.
In February 2018, the presale for Origin Axie began, where 900 ETH was raised.
In May 2018, the breeding game was released.
In January 2019, the Land Sale began, where 3200 ETH was raised.
In December 2019, the Axie Infinity community alpha was released.
In June 2020, the Ronin Ethereum sidechain was introduced. Also, the Axie project participated in the fifth season of Ubisoft Entrepreneurs Lab.
In May 2020, the Mavis Hub was released, and all land in Q1 was sold out – 4600+ ETH raised.
In February 2021, the launch of the Ronin Mainnet.
In April 2021, Axies migrated to Ronin.
In September 2021, AXS staking was launched.
In November 2021, Katana (or Ronin) Decentralized exchange was launched.