Axie Infinity Changed Crypto For Good
Yes, this one had revenue of over 270 million dollars in just 30 days for comparisons. Sake, pancake swap in the same exact period, showed a revenue of 12.6 million dollars 21 times less, but that just scratches the surface of axi infinity you see, axi infinity with the amount of technology it has set in motion is way more than your average crypto project And it requires a bit of an open mind to explore and to consider the financial gains some have made with this game are pretty hard to believe. But yet some people are actually paying their bills by playing this game, but with the promise of paying a game to earn crypto and pay your bills. I wanted to look into this myself so lets dive into the world of axi infinity, and then this way you can decide if its worth your time and worth your capital. So before we get into the tokenomics involved, im going to go through what this game is and how it works, because its pretty crazy, so one of the things youll notice right away is this game is inspired by pokemon. You play the role of a collector of these little monsters called axes. Each one of those monsters has a specific combination of jeans that makes it not only look unique but unlock special abilities for when you go ahead and battle other players. Now, each one of these axes that you own can then be bred with other axes to make new ones which in turn have their own unique characteristics.
Axes as well as their offspring are bought and sold all the time in the in game marketplace, and their value is determined in part by what the axes look like, what they can do in battle and how you can breed them. And this is because each of those virtual pets you collect, are actually nfts nfts generated by the game that can be bought on nft marketplaces like open c, apart from the axi pets themselves, there are many other nft resources that are available for purchase within the game. Like land in game, land and the prices for land are astonishing earlier this year, a set of nine plots of land sold for 1.5 million dollars, but if youre a little bit less bezos and a little bit more bootleg, you can watch your axes frolic within your Own plot of land, for you know a mere ten thousand dollars. What is up with that? Well, i dug deep to find out and resources in axii infinity can vary wildly in price because of the value associated with each nft. If you watch my videos youre, probably already aware of what nfts are but heres a quick refresher, these are non fungible tokens, in other words digital assets that cannot be replicated each one being one of a kind. Just like my mom tells me. Nfds allow people to collect and trade pictures, art, videos or, basically anything you can turn into a digital asset and even though its easy to you know just screenshot a picture online or a tweet that you see nfts, because theyre recorded on a blockchain allow owners to Make legitimate profit from buying and selling the ownership rights to that specific, unique non fungible asset, but axi flips.
This whole concept on its head, your axes and the land inside this game all serve a purpose in the games earn to play model. Your axi may be worth something now but win battles in the game and you get even more rewards with it. The land in lunacia thats the name of the axie world by the way costs so damn much because of the advantage it gives holders by way of resources in the game, ultimately giving you more ways to create other nfts that you can use in play or sell To the highest bidder, so people look at buying this land or other resources as an investment within in investment. Now most of this game is developed in house by sky mavis, but its part of their mission to enable third party developers to create small mini games and different tools to help other players within the game. Now owning land in lunacia is one of the more lucrative ways that you can begin to treat axi infinity as a potential business opportunity now well. This is not the first game to do this. Actually, infinity is by far the largest to do it. This september, the developers, sky, mavis and axi players surpassed 2 billion dollars in sales. This beats out the previous leader in nft collectibles crypto punks, which, as of last month had an all time volume of 1.29 billion dollars. Now lets talk, tokens two tokens rule over the economy of lunacia and those are axi, infinity, shards, axs and smooth love potions slp, you can think of axs as the currency standard for all economic activity in the world of axi.
You know just like youd use, gill in final fantasy or rupees in the legend of zelda, but this axi currency does way more than just buy items in game or nfts, but ill come back to that in a smooth, loving minute. Because we need to talk about smooth love potions or the slp token. This is the second axie game. Token players of the game need this second token, to breed more axes, the more times you breed in axi, the more slp token you need. Honestly, i mean with a name like smooth love potion they might as well have just called it. Axi lube, oh my, but you know they went ahead and called it smooth love potions instead, but sky mavis. They designed the game around this token, so that theres not an oversupply of axes in the game and to try and keep the price of slp stable, but looking at the way that slp has come down in price from 41 cents down to six cents. In the last three months, it hasnt really been that way now its a completely different story. For the axs token, these are axi governance, tokens, the currency for the games economy. Axs is an erc20 compliant token, which basically means it follows a set of rules that help cut back on fraud and volatility in token prices. These tokens can be traded on basically any of your favorite exchanges and there are strong incentives to hold and stake the token, which, of course helps the tokens price players are able to stake this token and earn more tokens as rewards with rewards released to players weekly.
Most of the decisions for the development of axi infinity are currently made by the sky mavis team, but holders of axs will eventually have voting rights as to how funds are allocated and which features to prioritize in the future of the game. According to their white paper. By the time all axs tokens have been released, the game should have reached a point of maturity that allows all major decisions to be voted on by the community of axi shard holders. So, for example, in the future invested players will be able to vote on how much funding should be allocated to the development team sky mavis for development or, if, instead, third party developers should be given those funds to build on the game instead of the main team. Now, one of actually infinitys founding members has pointed out that turning the game into a dao, a decentralized autonomous organization, will be the key to keeping the game and its community engaged long term. Eventually, if all goes well, an allocation of its token supply will be voted on by those who hold the axs token, starting in october 2020, sky mavis has been following a set schedule for the release of the axs token, and they want to release the total supply Of 270 million tokens by october 2023. Now i should point out that there are currently roughly about 60 million tokens. Released 21 of those tokens are owned by the development team. A healthy 29 is allocated for staking rewards and 20 is allocated for players to earn in game now.
Unlike other crypto projects, the game itself is integral for keeping axs the token and all axi nfts valuable in the long run. So everyone has this financial interest to keep on playing, and this is a fascinating concept to me i mean i cant imagine if 10 years ago, when skyrim came out – and i was playing it every single day, having a financial interest in the game and its popularity, I could really see this potentially keeping the popularity of this game high long term if its fun and people have a financial interest in keeping it popular. Even though axeys end game is to become a dao, a decentralized autonomous organization right now, its sky mavis. That holds most, if not all, of the cards. What they decide to do over the next couple years will decide the fate of the game for all the players for axs holders and for stakers alike, and this brings me to the risks. Of course, we have volatility in crypto. This in itself is always a risk. Then we have the risk of the popularity of the game. Those who hold the axs token, the smooth love token and axey nfts will all see their assets fluctuate with the popularity of axi. As a game, and as of now until the game is totally decentralized, that success is largely in the hands of the development team, so an investment in axi is a bet that the devs will continue doing a good job and diving into this project.
I didnt see any major red flags, meaning we have visible founders. We have no token supply issues. Tokenomics makes sense even for the axi lube token, and we have an active development team now popularity wise. It seems that this project has gone down a little bit in popularity from its peaks. Now, looking at its subreddit engagement, we can see that comments per day are down slightly, but looking long term the chart seems fairly healthy. I like this metric a lot because an engaged community is a successful community in crypto and looking at google trends, this chart looks a little bit less healthy as we are down significantly from the peaks, but the price of their axs token has done a very good Job of retaining price, despite fluctuations in popularity – and this signals to me that holders of the coin are either in and out quickly or theyre in it for the long term. So, in summary, once again, this isnt financial advice, but what options do we have with axs and slp lets? Do a quick recap: these two tokens are a part of a nft based game. Axi infinity, whose main mission right now is to develop one of the first truly decentralized play to earn games. Players are incentivized to huddle and stake their tokens for real life and in game rewards. The development strategy of this game, as written in their white paper, remains focused on sustaining the appeal of this game and educating gamers on the ways blockchain technology can be an actual source of income now, because its a game, the time that you will inevitably invest.
Building up your collection of nfts axes and resources greatly surpasses the time that youd otherwise spend simply buying and holding other tokens. So i dont think that you can think of axs and slp as investments. In the same way, you would bitcoin or ethereum or cardano or any other altcoin in general, because to make the most out of these tokens you should. This is hypothetical entertainment purposes only. You should also be playing the game. Staking your shards and using your smooth love potions to add more axes to your collection and whats. Most shocking about this game is that the financial rewards of playing the game are enough to even make a living for some people and thats going to do it. For today, if youd like to see even more of my research on axi infinity, youll want to join my patreon link below there youll be able to access my full 20 pages of research notes on this project, including many things that are far too in depth. For a youtube video, also through patreon youll, receive all of my crypto buy and sell alerts. A private community live coaching calls and a whole lot more spots are limited, so grab one of those before theyre all gone.