Axie Infinity is a game centered around fantasy creatures called Axie. The birthplace of the game is Vietnam. Axie Infinity rewards players with ERC-20 AXS (Axie Infinity Shards) tokens.
Axie Infinity Marketplace made the news on 9 February 2021 when CoinDesk reported that one of its NFTs — an in-game virtual land was sold for 888 ETH (roughly $1.5 million at the time).
Axie Marketplace dApp is a crypto asset from the Marketplaces category built on the Ethereum protocol. It’s ranked as #1834 in general dApp rankings according to the user count, and #28 in the Marketplaces category, which gives you a good idea of how Axie Marketplace dApp performs among its competitors.
To get on board, you’ll have to download the game from their official website and sign up for a digital wallet such as MetaMask. Once you’re done, you’ll need to purchase a cryptocurrency called Ethereum (ETH), which you can easily get from trading platforms such as Binance. Afterward, the game will require you to download Ronin Wallet, another online wallet where you can use ETH to purchase Axies from the game’s marketplace.
Axies are small and cute creatures that you can breed and use to battle with other players. Similar to titles such as Pokémon, it’s a turn-based game that requires you to build a strong team of Axies and think strategically. During battles, both players are given cards, which they can choose for the action their Axies will be doing for a particular turn. Unlike most RPGs and turn-based games, Axie’s battle system doesn’t allow you to choose which units to attack.
The Axie Infinity ecosystem is entirely owned by the players. These players can transact their in-game assets and NFTs for digital currencies. Since the game revolves around imaginary creatures, it is a digital pet universe of sorts. To get started, every player needs to have at least 3 Axies.
Unlike many other NFT Marketplaces, the Axie Infinity Marketplace only sells characters and items from the Axie Infinity ecosystem and nothing else. So if you’re looking for a fresh digital art motif to display via iPad on your living room wall, you’ll have to look elsewhere.
How does it compare?
(gas fees on seller if accepts bid below reserve price)
|Seller: 5% Service Fee + 0,30 USD + 10% Artist Fee||Seller: 15%||Seller: 15%||Seller 15%; Secondary Market: 3%||Seller: 4.25%
|Currencies||$ETH, $WETH, $DAI||$ETH; $WETH; $DAI; $ATRI; $RARI||$ETH, Fiat via Credit Card / Debit Card||$ETH||$ETH||$ETH||$ETH|
|Auction Styles & Listing Types||Timed Auction (Reserve price met extends +10 min); Fixed Price;||Auction; Fixed price;||Drawings (Raffles); Open Editions; Auctions; Silent Auctions||Timed Auction; Fixed Price; Open-ended Offers||Reserve price to be met, then 24 hr Auction||Auction without countdown; Fixed Price||Timed Auction;
|Accepted File Formats||Image: JPEG, PNG,GIF, GLB/GLTF Audio: MP3, WAV Video: MP4, WEBM||Image: JPEG, PNG,GIF, WEBP Audio: MP3 Video: MP4, WMV||Image: JPEG, PNG,GIF, WEBP Audio: MP3 Video: MP4, WMV||Image: JPEG, PNG,GIF Vector: MP4||Image: JPEG, PNG,GIF Vector: MP4||Image: PNG, JPG, GIF, SVG & WebP
360 Image formats: PNG, JPG; Exif XMP tag needed); ProjectionType=equirectangular needed
Video: WebM & MP4
|Max. File Size||100MB||30MB||/||50MB (Thumbnail 10MB)||50MB||75MB (Cover Image 25MB)||NA|
|Categories & Dominant Genres||Art; Music; Utility; Collectibles; Trading Cards; Sports; Virtual Worlds; Domain Names;||Art; Gaming Collectibles; Trading cards; Sports; Music; Photography; Metaverse; Domains; Memes||Crypto Art||Fine Digital Art||Fine Digital Art, Crypto Art||Fine Digital Art, Crypto Art||Reptile
|All Time Volume||$649.31M||$162.98M||unknown||$74.32M||$46.66M||$523.22M|
|Active Traders (Daily)||140,324||58,329||unknown||3,923||10,692||1.8m|
|Royalties||Artists’ choice||Artists’ choice||10% on secondary sales||10% on secondary sales||10% on secondary sales||10% on secondary sales||Player’s choice|
How to open an account?
Different NFT Marketplaces present their NFTs, the latest bid the remaining time of an auction, etc. in different ways. What you are most comfortable with viewing and using is up to you and no one else. The following picture is a print screen from Axie Infinity Marketplace:
Players can access the Axie Infinity marketplace to buy NFTs like Axies, Land, in-game items, or a bundled package. When buying these NFTs, users can view different details and statistics, depending on the NFT being bought. Here’s an image of an Axie listed on its marketplace.
Axie Infinity Marketplace Payment Methods
A few of the NFT Marketplaces out there accept deposits and payments via credit or debit card, and some even accept PayPal-deposits.
Axie Infinity Marketplace does not support PayPal or Credit Card purchases. Since it uses the Ethereum network, the transactions are carried out through the use of Ethereum (ETH). The platform recommends the Metamask wallet for smaller transactions or exchanges like Coinbase or Binance for larger transactions.
Is it safe and secure?
While the usual concept of farming, breeding, and turn-based battling is quite popular in the gaming world, the game’s nature is far more complex. It can be deemed revolutionary in the modern gaming scene since it has gamified the trading experience of crypto enthusiasts. Unlike traditional titles that were solely made for entertainment and stress relief, the earning potential of the platform makes it a sound investment option for many, especially gamers.
Fortunately, you can play for free and earn a decent amount of money by registering as a scholar. But if you’re looking to dive in and build your own team, you’ll need to purchase three expensive Axies in an ever-changing marketplace. To show you how active the game’s economy is, the most expensive Axie sold for approximately $320,000 at the end of 2021.
But much like any other financial instrument, you need to be careful with how you handle your assets. To be clear, we are not financial advisors and this article is not meant to provide financial advice in any way. Similar to other cryptocurrencies such as Bitcoin, SLP’s price is extremely volatile so there is a real risk of losing money.
Setting that aside, evaluating your financial capabilities is vital to your success. Knowing how much you’re willing to spend can be a good way for you to figure out if diving headfirst into the game will be worth it for you. Committing to learning the nitty-gritty of the game will enable you to determine your game strategies more effectively and make it easier for you to maximize your investment while playing.
Can you mint on it?
Axie Infinity and OpenSea are two of the main marketplaces that are Ethereum-based. Ethereum has the largest NFT ecosystem.
Ethereum is the largest system for these digital assets, as Rohit explains in his project on Education Ecosystem. You will need to have an Ethereum wallet that supports ERC-721, which is Ethereum’s token standard for NFTs, such as MetaMask, and Trust Wallet.
You will have to top up your wallet with about $50-$100 worth of ether to cover transaction fees.
Once you have completed those steps, you will be able to access and use platforms such as OpenSea, Axie Infinity, and others that are Ethereum-based. Most platforms have a “Create” button in the top right corner that will take you to the page where you can begin minting your NFTs.
Axie Infinity has four primary features: battle, breeding, land, and the marketplace. The battle is a turn-based card game in which players aim to defeat their adversaries, with each side always made up of 3 Axies. Each Axie NFT has different traits which make them suitable for various roles in the game. They also have stats — health, morale, skill, and speed — that impact an Axie’s success in the game and how it participates. Additionally, each Axie belongs to a class: beast, aquatic, plant, moon, star, reptile, bug, bird, or nut.
You can breed your Axies to create offspring that can be sold, bred, or deployed in battle. Axies have three genes that determine the characteristics of their offspring. Axie Infinity controls the population of Axies to manage price inflation, so each Axie NFT can only be bred a maximum of 7 times. You will incur a fee of .002 ETH each time you breed your Axie, and you must also acquire Small Love Potions (SLPs), which are ERC-20 tokens that can be earned within the metaverse or traded on decentralized exchanges (DEXs) such as Uniswap.
The “homeland” of the Axies is called Lunacia and is divided into 90,601 plots of land, each of which is an ERC-721 token. Land plots act as homes for your Axies and can be upgraded with items sold on the Axie marketplace. Likewise, landowners can discover AXS tokens on their plots. If you wish to purchase or sell an Axie, you can do so on the Axie marketplace, though Axies can also be sold on other NFT marketplaces. You can also purchase plots of land and items such as objects and decorations for your land.
Pros And Cons
- Axie Infinity is a legitimate play-to-earn video game based on NFT and blockchain technology. The current number of players and the record-breaking sales it has generated are good indicators that it has a solid digital ecosystem and economy.
- To add to the aforementioned advantages, another strength of this game is that the value of the cryptocurrencies used in-game is based on a fair market price. Future development plans for this game remain promising. As one of the first NFT-based games, it is also a game-changer, and can indeed benefit early adopters.
- But people should still exercise caution. Axies NFTs are still prone to overvaluation, as well as hyperinflation. Adding to this is the fact that cryptocurrencies are volatile. Individuals should evaluate their risk appetite when investing real money in the game.