NFTs are digital collectables that exist on online ledgers known as blockchains, and are better known for recently taking the art world by storm.Īs well as Axies, other in-game items like real estate, flowers, barrels and lamps are all tradeable as NFTs too. It has broadly been rising since 2020, so there is an argument for hanging on to them – or alternatively, selling while the going is good.Īxies themselves can be traded in real life in the likes of the Axie Marketplace as NFTs (non-fungible tokens). Top players are reportedly earning SLP1,500 (US$435/£317) per day from their Axies, though the price of SLPs against the US dollar is constantly changing. SLPs double as cryptocurrencies that can be bought and sold on a crypto exchange. The object of the game is to obtain small love potions (SLPs), which can be used to breed new Axies that can then be deployed within the game. The game revolves around cute furry creatures called Axies, which players breed, acquire, train, use to complete challenges, and do battle with online.
It has some 350,000 daily active users, about 40% of whom are in the Philippines, with Venezuela and the US the next two biggest markets.
The leader in this new space is Axie Infinity, a Pokémon-style game created by the Vietnamese developer Sky Mavis. So how do these games work and where are they heading? To infinity … But play-to-earn games take this to a whole new level. There have also been games like World of Warcraft where a grey market for exchanging in-game items and characters grew up around them. Or in life-simulation franchise The Sims, players buy everything from pizzas to houses with Simoleons.īut in these older games, the in-game currency had no value in the real world. In the 1980s blockbuster Elite, for example, players travelled from planet to planet, trying to increase their credits by buying and selling things like weapons and commodities. What they have in common with many previous classics is that they include complex economic ecosystems. So-called play-to-earn games like Axie Infinity and The Sandbox have been exploding in popularity recently. Whether it’s Space Invaders or Sonic or Red Dead Redemption, you hit the start button and do your thing until game over – and then you probably wipe the sweat off your hands and do it again.īut a new class of games is emerging where playing is an investment opportunity – and even potentially a way to earn a living. Whenever Axie has reduced friction in their ecosystem, the trajectory of growth in users has been markedly different compared to when gameplay was handicapped by friction.The ultimate point of playing video games has always been to have fun. One of the reasons for creating the Axie Infinity DEX is because people require tokens during gameplay and have to use cross-chain bridges to purchase or swap tokens, which creates friction in the user experience, which Zirlin wants to avoid, as reducing friction. Sky Mavis, the company behind Axie Infinity, will be creating the exchange. The DEX will be built on the Ethereum-linked sidechain Ronin, which was built specifically for Axie, which will make Axie Infinity one of the first games in the world to have its own DEX. AXS can also be purchased from crypto exchanges around the world, and they can also be earned through gameplay. AXS can be earned by a placement on the leaderboard and by winning tournaments. The exchange will allow buying and selling of tokens among the Axie Infinity consumers. Jeff Zirlin, the co-founder of the Axie Infinity game, has announced plans to launch a DEX to permit buying and selling of AXS and SLP tokens on-chain.Īxie Infinity, the game that allows people to battle chubby, fantastical beasts, and earn Axie Infinity Shards (AXS), which are ERC20 governance tokens, and clean love potion tokens (SLP) while playing, will soon have its own decentralized exchange.
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