Axie Infinity is an NFT-based online video game developed by Sky Mavis. It operates on the Ethereum blockchain and features an in-game economy that utilizes Ethereum-based cryptocurrencies. The game revolves around collecting and breeding digital pets called Axies, which are unique and tradable NFTs. Players can battle with their Axies in a turn-based combat system.
Axie Infinity charges a fee for trading Axies on its marketplace, allowing players to buy, sell, and trade their digital pets. The game has gained significant popularity, particularly in the Philippines, where many players have embraced Axie Infinity as a way to earn income and participate in the play-to-earn model.
The game is built on the Ronin Network, a scaling solution for Ethereum, and its official cryptocurrency is AXS. AXS is used for various in-game activities, such as breeding and upgrading Axies, participating in governance decisions, and staking to earn rewards.
While Axie Infinity has experienced success, it has also faced challenges. These include a crash in the value of its secondary token, Smooth Love Potion (SLP), which is used for breeding Axies, as well as a hack linked to the Lazarus Group. Despite these challenges, Axie Infinity continues to attract a dedicated player base and offers opportunities for both competitive gameplay and earning income through in-game activities.
