What is Axie Infinity (AXS)?

Axie Infinity is a popular blockchain-based game inspired by Pokémon and Tamagotchi. In this game, players can collect, breed, raise, battle, and trade token-based creatures called Axies. There are more than 500 different body parts available for Axies, categorized into aquatic, beast, bird, bug, plant, and reptile types, each with different rarity scales: common, rare, ultra rare, and legendary. This diversity makes Axies unique and valuable.

Each Axie is represented as a non-fungible token (NFT) with specific attributes and strengths. Players can engage in 3v3 battles using their Axies, earning experience points (exp) for the winning team. These exp points are used to level up an Axie's stats or evolve their body parts. Additionally, Axies can be bred together to produce new and unique offspring, which can be used in the game or sold on the Axie marketplace.

The game also features its own governance token, Axie Infinity Shards (AXS). Holders of AXS can participate in important governance votes, giving them a voice in deciding how funds from the Axie Community Treasury are utilized.

Who are the founders of  Axie Infinity (AXS)?

Axie Infinity, a blockchain-based game, was founded in 2018 by a technology-focused game developer named Sky Mavis. The team primarily operates in Vietnam and was co-founded by Trung Nguyen and Aleksander Larsen.

Trung Nguyen, the current CEO of Axie Infinity, holds a BS degree in computer software engineering and previously worked as a software engineer at Anduin Transactions before co-founding the game.

Aleksander Larsen, another co-founder and the COO of the platform, has a background as a former competitive gamer and has been involved in blockchain gaming since 2017. Prior to Axie Infinity, Larsen served as the executive security officer for the Norwegian Government Security Organization and also held a position as the Secretary of the Board of Directors at the Blockchain Game Alliance.

The Axie Infinity team comprises 25 full-time employees, many of whom possess experience in game development.

What makes Axie Infinity (AXS) unique?

In Axie Infinity, each Axie possesses six out of hundreds of potential body parts, each with its own battle move, resulting in a vast variety of Axies with different strengths and abilities. While most Axies have relatively weak statistics, some can have incredibly powerful stats if they have the best combination of body parts.

To control the population of Axies, each Axie can only be bred a maximum of seven times. The game has a mating hub to help players find suitable matches to breed their Axies, increasing the chances of producing rare or powerful offspring. Breeding an Axie requires 0.005 ETH and Small Love Potion (SLP) tokens.

In the near future, holders of the Axie Infinity governance token (AXS) will have the option to stake their tokens and receive regular rewards. However, unlike some other staking assets, AXS holders will also need to actively participate in voting and playing the game to claim their rewards. This approach aims to encourage engagement and active involvement from the community.

Network security in Axie Infinity (AXS)

The Axie Infinity (AXS) token is an ERC-20 token, which means it operates on the Ethereum blockchain and is secured by Ethereum's proof-of-work (POW) consensus mechanism.

To improve scalability and enhance the gaming experience, Axie Infinity has planned to migrate its NFT tokens, including Axies, Land, and other in-game items, from the Loom Network to a custom-built sidechain on Ethereum called Ronin. Ronin is specifically designed for Axie Infinity by Sky Mavis, the development firm behind the game.

Ronin is an application-specific sidechain that aims to provide several advantages for Axie Infinity users. It will support almost instant transaction confirmations, reducing the time required for transactions to be processed. Additionally, Ronin is designed to decrease gas fees, making it more cost-effective for players to interact with the game.

Moreover, Ronin's main purpose is to help Axie Infinity scale, ensuring that the game can handle increased user activity and growth while maintaining a smooth and efficient gaming experience for its community. This migration to Ronin is expected to take place in early 2021 and is a significant step in the development of the Axie Infinity ecosystem.

What are the recent developments in Axie Infinity (AXS)?

Sky Mavis, the company behind Axie Infinity, has partnered with CyberKongz, an Ethereum-based NFT collection, to enhance the gaming ecosystem on the Ronin blockchain. They plan to develop a new interoperable game that integrates with existing Axie Infinity experiences. Additionally, CyberKongz's Play & Kollect game is migrating from Polygon to Ronin, aiming to expand its user base by accessing Ronin's gaming community.

Axie Infinity gained popularity in 2021 with its play-to-earn model, allowing players to earn crypto tokens while playing the game. Despite a slowdown in blockchain gaming interest recently, Sky Mavis believes the catalyst for revival will come from a game that understands users' motivations towards Web3.

The company is positive about leveraging Web3 for a new gaming experience and attracting a massive audience. They aim to create gaming communities that are more rewarding and longer-lasting through the Ronin blockchain.

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