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AXS In the summer of 2021, AxieInfinity-a combination of cryptocurrency and Pokémon game in which players raise, fight and trade cute NFT pets named Axies-has been the largest crypto application on the Ethereum blockchain.
AxieInfinity revolves around breeding, raising and fighting cute creatures called Axies. Axies and virtual real estate are sold through the in-game market in the form of NFT. (Learn more about NFT. Most transactions take place on a rapidly customized sidechain called Ronin, which developer SkyMavis designed to cost less than the Ethereum main blockchain.
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How does AxieInfinity work?
AxieInfinity describes itself as a \"make money while playing\" game where players can sell items through the game\'s NFT market (including their breeding Axies, in-game real estate, and accessories such as flowers or buckets), while also collecting game-generated tokens. Two special cryptocurrencies are used in the game:
The main token AxieInfinityShards(AXS) can be bought and sold on exchanges such as Coinbase. You need some AXS to play games, but you can also trade AXS such as Bitcoin or Dogcoin or any other major cryptocurrency. AXS will also serve as a governance token, giving holders a say in the future of the game.
The second token, called SmallLovePotion(SLP), rewards players for time spent in the game. You can win some bonuses by defeating your opponent\'s Axie or completing in-game tasks. The more you play, the more SLP you can accumulate. (Although this asset is currently not available on Coinbase, you can buy and sell SLPs through DEX such as Uniswap or SushiSwap.)
Vietnam developer SkyMavis launched AxieInfinity in 2018. As of August 2021, the game has approximately 1 million players every day.
How did you start playing Axie Infinity?
To play the game, you need an Ethereum-compatible crypto wallet and some ETH. You can purchase some ETH from exchanges such as Coinbase and send it to Coinbase Wallet (separate from Coinbase\'s main app, which you can download through Apple\'s App Store or Google Play) or Metamask. (If you want to play games on your computer, you can also download this Chrome extension to connect your Coinbase wallet to a web browser.)
To start playing, you need to purchase at least three Axies from the game market. Sky Mavis takes a 4.25% commission on all Axies, virtual real estate and other items that users sell to each other. \"Rare\" axle cars with ideal characteristics cost more.
Players can also \"cultivate\" new Axies, which requires spending some of the game\'s two native cryptocurrencies: Axie Infinity Shards (AXS) and Small Love Potion (SLP).
You can earn SLP by successfully fighting other players and completing missions.
What are the risks of Axie Infinity?
Axie Infinity represents a new model of crypto-based gaming. Because prices for AXS and SLP can be correlated to the popularity of the game, they could fall if players migrate to competitors or lose interest.
