Axie Infinity NFT Overview

Axie Infinity is the preeminent “play to earn” (P2E) blockchain game. 

Influenced by Pokémon, Axie Infinity players can build up a “team” of Axies and use them across an ever expanding universe of games. Each Axie is an NFT, designed with the ability to battle, build, and breed. In order to get started, a user must build a team of at least three Axies. 

Based on their skill and gameplay, by participating in battles or by building and breeding, users can earn in-game currencies like Smooth Love Potion (SLP) and Axie Infinity Shards (AXS). Both of these in-game currencies can then be traded for other currencies via cryptocurrency exchanges. Notably, Coinbase added AXS as a tradeable coin in Q3 of 2021. 

Axie Infinity has sustained immense growth throughout the course of 2021, becoming the first blockchain game with more than one million registered users. 

A notable contributor to the game’s popularity are the Axie Scholarship Programs. Because of the upfront costs to get started, many willing game players are priced out of participation. With an Axie Scholarship, these same participants are given access to a team of Axies and split the game earnings with their Scholar. 

Jeff Zirlin, co-founder of Sky Mavis, the team behind Axie Infinity noted that Axie is poised to produce greater than $1B in revenue in 2021.

In late September, Axie Infinity announced the launch of staking for AXS tokens. Users will be able to lock up their AXS tokens for AXS rewards. In the near future, staking AXS will also give stakers voting rights and a say over how the Axie Community Treasury, valued at over $1B, is used moving forward.