What is Axie Infinity?
Aside from being one of the top decentralized applications (dApps) on Ethereum, Axie Infinity is a creature battler similar to the Pokémon franchise. It has users collecting, raising, and battling a colourful catalogue of creative creatures to make them stronger.
The dApp currently boasts over 100,000 users a week and is considered by many to be the most popular blockchain-based gaming platform of the year. In fact, it holds the record as Ethereum’s first NFT game to generate $1 billion in sales.
Axie Infinity utilizes two tokens to enhance the user experience. The first set is the Axie Infinity Shards (AXS). AXS holders can stake the token to earn interest, use it to make payments on the Axie Infinity network, and eventually use them to participate in network governance. Users can either purchase the token or earn it while playing.
Then there are the Smooth Love Potions (SLP). Also earned in-game, SLP is required to breed new pets, Axies, and to otherwise participate in the Axie Infinity events and competitions. As players nurture and grow Axies, their SLP will increase in value over time.
Essentially, players compete to hold the most unique and powerful Axies. While playing to earn SLP and breed new characters is a viable strategy, those who choose to invest with real funds can get ahead early. Plus, they have a higher chance of profiting off of their investments as well.
What is NFT Gaming?
As mentioned, NFT gaming is the future of playing video games. They represent the only way to see a return on player time investments, allowing them to exist in multiple ecosystems without spending additional funds.
Considering most tokens, including AXS and SLP, are ERC-20 based, they’re all compatible with any dApp on the Ethereum network. That interoperability ensures all NFT games have an inherent value, which can be transferred between dApps as the user wishes. No longer will players have their time feeling wasted and empty after finishing a game. They can simply transfer those efforts to a new one.
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