Axie Infinity Fundamental Analysis

September 07, 2021

Blockchain enthusiasts have long claimed that cross-border remittance is a market which would be disrupted by their technology of choice, the public ledgers underpinning cryptocurrencies. However, what if they were wrong? What if blockchains don't enable overseas workers to send money back home cheaply and instead impact them in different ways such as enabling cheaper transactions for consumers or creating new markets entirely? What if the real innovation lay, instead, in people's ability to earn a living wage while playing video games?

Blockchain gaming applications are on the rise and Axie Infinity has taken it to the next level by integrating online gaming with NFTs. Utilizing Pokémon-like elements, the blockchain game has achieved enormous fame, particularly since connecting to the Ronin side chain. With everything taken into account, Axie Infinity has not become just a standard game; it is making another digitized economy. Axie Infinity just crossed $3 billion in daily volume, whilst selling more than $1 billion worth of NFTs.

What is Axie Infinity?

Axie Infinity is an exciting game that you can play on various devices. It has a core gameplay similar to Pokémon, where Axies can battle against other players or computers with their skills and abilities.

It is an augmented reality (AR) collectible creature breeding game where users can capture virtual pets called "Axies" using their smartphone camera in addition to battling them for dominance of local turf wars between different participants within your geographic location known as Landmarkers . It was created by one person who goes under the pseudonym John Tynes , has raised $2 million dollars through its ICO offering back in 2017 and also received investment funding worth 3Million USD last year alone, according to Forbes magazine.

Axie Infinity is a game that rewards players with cryptocurrency. The developer of the game says it has gained 1 million users in August from just 30,000 users in April this year. It's poised to save people who are unemployed and live in developing countries such as Venezuela, Philippines and Brazil by giving them new job opportunities in growing digital economies.

The Axie Infinity brings hope for some areas where unemployment rates have skyrocketed because of economic crises like Greece or Portugal through its innovative idea which gives an opportunity to earn money while playing games created using blockchain technology..

The earning potential is the thing that's made the game well known, particularly in emerging nations. Furthermore, the high cooperation is the thing that's driving Axie's noteworthy income streams. As per CoinDesk, Axie created more income in June than major decentralized trades like Uniswap and Aave.

This model can be identified with broadly known grants. Grants function as a common income model where Axie proprietors "loan" their NFTs to players all throughout the planet to partake in the play-to-acquire highlights. This sort of model produces esteem in an unexpected way. The social effect created shows the capability of blockchain. What's more, more individuals are becoming more acquainted with this innovation, working on their future viewpoint also.

Axie Infinity features

Axie Infinity is an NFT game inspired by Pokémon and Tamagotchi. Axie Infinity is a fight game that permits clients to fight their Axie’s progressively. Each Axie is remarkable and addressed by an ERC-721 non-fungible token (NFT). Each Axie has four unique details: Health, Morale, Skill, and Speed. Each of these assumes a pivotal part in Axie's fight mechanics since they choose how much harm the Axie can take, who assaults first, and how much harm it can dole out, and so on.

Axie’s come in one of either six ordinary classes (Aquatic, Beast, Bird, Bug, Plant, or Reptile) or one of three mystery classes (Dawn, Dusk, or Mach). Various classes have their qualities and shortcomings that make them pretty much powerful against certain different classes. For instance, Aquatics are solid against Beast, Bug, and Mech Axie’s, yet are powerless against Reptile, Plant, and Dusk Axie’s. They additionally influence Axie's details.

Axie Infinity has facilitated the development of a new game type, known as play-to-earn. It permits players to obtain capital gains in the form of AXS, SLP, and other resources just from playing the game. The play-to-earn characteristics of Axie Infinity have even led to the formation of the Axie Infinity scholarship economy, which essentially sees well-heeled players, known as Managers; lend out a team of three Axie to workers, known as Scholars.

Axie Infinity Tokenomics

Not just has Axie Infinity been the sultriest undertaking since May's crypto crash, yet AXS (Axie Infinity Shards), the Axie Infinity administration token, has performed incredibly well as of late. At present recorded around $27 USD, AXS has expanded a shocking 4,400% from the beginning of the year and practically 500% from the earlier month.

AXS permits holders to partake in administration exercises and awards them a vote inside the Axie Community Treasury. Beginning in 2021 players will actually want to stake their AXS to acquire weekly rewards. AXS has a maximum supply of 270 million. The AXS tokens are made according to the purpose. 50 percent is allocated for in-game rewards, both for players and stakers. More than 8 percent is reserved for community development, 20% for Sky Mavis and the team, 7% for advisors, and 15% for the AXS private and public sales which took place at the end of 2020. This sale helped them raise 3.8 million dollars in which the price of tokens for private investors was 8 cents and for retail investors it was ten cents. It unquestionably helps that AXS has a medium-sized market cap meaning it has a great deal of space to become contrasted with other cryptos. That, as well as AXS's extended vesting plan, implies it's probably not going to perceive any genuine value concealment from selling by the group, consultants, and private financial backers.

Then again, there is the SLP token. As recently referenced, SLP is a utility token that is stamped inside the game. It very well may be acquired by winning fights and is utilized to raise Axies. SLP's cost has expanded 1,450% during this year.

The Takeaway

The words cannot do justice for what Axie Infinity really is. Thus, it will not be wrong to write that Axie Infinity is the future. To date, it is one of the best DeFi innovations in terms of user experience, features and design. This isn't that astounding given that its developers have been on the cutting edges of gaming financial matters since they were kids. Best of all, every one of them are devoted to the basic beliefs of crypto currency. Their vision is to straightforwardly make a virtual economy where you can possess and work your own organizations, save, contribute, and go through your cash while never contacting a bank.These aren't simply vacant maxims either on the grounds that the truth will eventually come out, thousands conceivably a huge number of individuals have been kept above water by Axie Infinity's in-game profit. Two or three hundred have figured out how to make extraordinary measures of cash.

Contrast this with the cohort industrialist conduct we frequently find in cryptocurrency where VCs get rich and most of us scarcely receive the benefits. Since the very first moment each achievement set by Sky Mavis has been refined on schedule. When something they constructed was anything short of ideal for their clients they rejected it without a second thought and had a go at something different. This degree of obligation to consistency, quality, and local area is exceptionally uncommon both inside and outside of cryptocurrency and it's essentially what Axie Infinity owes its prosperity to. There is still a lot of space for Axie Infinity to develop as well, and it may very well be the executioner dApp that will take cryptocurrency standard.