The NFT Marketplace of Axie Infinity
The Future of Blockchain, Pets, and Collectibles. Axie Infinity is an innovative multiplayer game currently based on Ethereum and its own chain called Ronin Network. The game is a mix of Tamagotchi, Pokemon, and CryptoKitties. Think the latter, but for broader audiences. It allows players to collect, breed, and trade digital pets called Axies. Axie Infinity’s marketplace is where all the trading happens for items within this game. Let’s have a look at the Marketplace of Axie Infinity.
Axie Infinity coin
Axie Infinity Coin (AXS) and Simple Love Potion (SLP) are the official currencies of Axie Infinity. They can buy in-game items, level Axies, breed Axies, and enter tournaments. AXS is an ERC-20 (and multi-chain) token based on the Ethereum blockchain. It can be transferred between wallets and exchanged for other cryptocurrencies like ETH or BTC.
You can earn ETH, AXS and SLP tokens by selling new Axie breeds, but it’s also possible to earn them through gameplay. However, you’ll need to spend some time with the game before earning AIC tokens. AXS and SLP tokens are also used to enter tournaments where you can win prizes such as more Axies.
The AXS and SLP tokens are unique to the game, meaning they’re not used in any other games.. You’ll need to purchase it through Axie Infinity’s marketplace or via any centralized or decentralized exchanges.
Axie Infinity’s tokens have a total supply of 100 million AXS tokens, and 42 billion SLP tokens.
The game revolves around collecting digital creatures called Axies, raising them into adults with unique traits and abilities, then battling other players’ Axies to win rewards such as new skins for your collection. There are currently over 100 species of Axies available for purchase– more on this below.
The Axie Infinity game
Axie Infinity is a digital pet metaverse in which you can buy a plot of land in Lunacia – which is the Axie homeland. By battling, exploring, and breeding with other Axies, you can improve your collection of Axies (digital creatures) and trade them in the Axie Infinity Marketplace for crypto currency.
Axie Infinity is a trading card game that lets you collect and trade digital cards of adorable creatures called Axies. Each Axie has a unique personality and appearance, and there are thousands of different ones to collect.
The game was developed by Axie Infinity and released in 2019, with an updated version in 2020. It’s available on both iOS and Android devices.
The game is set in a world where creatures called Axies are born by breeding, and players can raise these Axies by feeding them and training them. There are two modes in the game: Adventure Mode and Arena Mode. In Adventure Mode, you start with four Axies and must battle other players’ Axies to level up your team. In Arena Mode, you fight against AI-controlled teams to gain points for prizes like new cards for your collection.
You can create an Axie team and battle other players’ teams. You also get to organize your collection into different decks that you can use when fighting other players’ teams. The gameplay is similar to Pokemon or Magic: The Gathering, with each player choosing three cards from their deck at once to form their team. Your goal is to win three out of five battles against your opponent’s team or defeat them before they defeat you.
The gameplay is simple enough for beginners but deep enough for experienced gamers to enjoy. And because of the extensive marketplace and leaderboard system, it’ll be long before you’re bored with Axie Infinity.
Axie Infinity NFTs and NFT marketplace
Each Axie is an NFT on its own. The Axie infinity marketplace allows players to buy and sell land, Axies, and other items used in the game.
The Axie marketplace is the official in-game marketplace for the Axie Infinity Game. However, as Axie NFTs or Axie Infinity Shards are created using the Ethereum blockchain, players can buy and sell Axies on other recognized NFT marketplaces as well that support the same chain.
How does the Axie Infinity NFT marketplace work?
The Axie Infinity NFT marketplace works by allowing players to buy and sell Axie NFTs, land, and other items used in game.
The Axie system works similarly to Pokemon, where players can collect and train their Pokemons. Each Axie is a tradeable NFT. In order to trade on the Axie Infinity marketplace, players must have an Axie account and an Ethereum wallet.
Players cannot begin to play Axie Infinity until they have acquired three Axies. Axies are bought through the Axie Infinity marketplace. It is also possible to buy Axies from other NFT marketplaces.
Axies cost currently on average 0.006 ETH ($73). However, as with all NFT and blockchain-based trading items, the value can fluctuate from minute to minute based on demand and popularity. All trading on the Axie Infinity marketplace is done in Ethereum or on the Ronin chain.
Selling via the Axie Infinity marketplace can be done in two ways.
- Set price: Players set their desired price, and the Axie is listed directly on the marketplace.
- Auction: Players list their Axie with a start price, end price, and duration.
When using the Axie Infinity marketplace to trade items, it is important to remember that there is a 5.25% transaction charge. This is more than some platforms charge.
Axie Infinity economy
The Axie Infinity economy is sustained by a PvP concept that sees players buying items to train their Axies in order to compete against other players.
In addition, the Axie Infinity economy allows for both horizontal and vertical growth. Players can breed Axies to expand their collection but also improve their Axies by upgrading their skills and abilities.
While the Axie Infinity economy is driven by real money, Axie Infinity is a firm game, and it is the gaming experience that really keeps the economy and the Axies Infinity ecosystem growing.
In order to keep the Axie Infinity economy stable, there are limits set on the number of times an Axie can breed before becoming sterile. This concept not only adds to world-building and immersion but also ensures the economy is maintainable and the real-world value to players remains enticing enough to keep them investing.
So what are you waiting for? Try out the Axie Infinity eco-system yourself and have fun!
Or read more Play to Earn articles on the Bit Hotel blog.