What is Axie Infinity (AXS)?

Axie Infinity (AXS) is a play-to-earn and decentralised finance (DeFi)-based online multiplayer game built on the blockchain. Fantasy creatures called Axies, which are represented as non-fungible tokens (NFTs) on the Ethereum blockchain, are available for users to acquire, breed, combat, and trade.

The History of Axie Infinity

Sky Mavis, a Vietnamese game studio, created Axie Infinity, which was released in 2018. It became well-known for its distinctive gameplay and business prospects, which allowed gamers to earn cryptocurrency incentives through game play. Since then, Axie Infinity has developed into one of the most popular blockchain games, with a burgeoning investor and player community.

The Use Case of Axie Infinity

Axie Infinity is essentially a play-to-earn game where players may earn cryptocurrency incentives in the form of AXS and Smooth Love Potion (SLP) tokens by taking part in battles, finishing quests, breeding, and selling Axies. These prizes can be exchanged for other cryptocurrencies or fiat money, used to buy, sell, or trade Axies and other in-game items.

Due to the fact that players can stake their AXS tokens in the game's governance system and take part in decision-making for the game's future growth, Axie Infinity has also drawn attention as a decentralised finance (DeFi) platform. In order to build a virtual economy within the game, users can also use the game's marketplace to buy, sell, and trade Axies.