Axie Infinity is a non-fungible token-based online video game developed by Vietnamese studio Sky Mavis, noted for its in-game economy built on Ethereum-based cryptocurrencies. Players of Axie Infinity gather and mint NFTs that symbolize Axies (based on axolotls). Within the game, these creatures can be bred and ended up fighting. Axie Infinity’s majority of gamers are based in the Philippines.
The Axie Infinity game was first released in 2018 and used the Ethereum blockchain, but it has now converted to its own Ronin technology. The developer reported on July 5, 2021, that the game currently has over 350,000 daily active users. Approximately the previous 30 days, its marketplace for trading NFTs handled over USD 170 million in trade volume, earning the game’s treasury USD 11 million in net profits. The game is playable on PC, Mac, and iOS, but it’s most popular on Android, where APK files are distributed via side-loading.
Three Axie NFTs are necessary to form a team capable of playing in turn based PVP, with the winner getting SLP (Small Love Potion). This approach can also be used to breed extra Axie characters.
A squad of three Axies used to cost merely USD 5 (approximately PHP 250) a year ago, but due to the game’s growing popularity, it now costs around USD 1,000. (Roughly PHP 50,000).
There’s a scheme dubbed the “scholarship system” for individuals who can’t afford to start, which entails “managers” renting Axies to those who can’t afford to invest money up front. These “scholars” make money by training and winning tokens using NFTs. The earnings are split between the scholar, the NFT owner, and the community manager.
At eight o’clock in the morning, each player’s energy is reset every day. If they don’t have any energy left, they won’t get the SLP, but they will get the MMR if they keep playing.