Everything To Know About Axie Infinity (AXS)

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What is Axie Infinity (AXS)?

Axie Infinity (AXS)

Axie Infinity is a NFT-based online video game developed by Vietnamese studio Sky Mavis,[1] which uses Ethereum-based cryptocurrency AXS (Axie Infinity Shards) and SLP (Smooth Love Potion). Currently it’s the most expensive NFTs collection with more than $42 million in sales in June 2021.

It’s a trading and battling game that allows players to collect, breed, raise, battle, and trade creatures known as “axies” (characters based on axolotl), which are digitized as NFTs. New players need to have at least three axies to play.

As of January 2019, virtual land (in the form of non-fungible tokens) can also be purchased in the game.

In November 2019, Sky Mavis raised ~$1.5M to accelerate the development of Axie Infinity. The round was led by Animoca Brands with participation from Hashed, Pangea Blockchain Fund, ConsenSys, and 500 Startups.

Protocol revenue on Axie Infinity yielded $305 million over the last 30 days in July/August 2021.

Who Are the Founders of Axie Infinity?

Axie Infinity was created in 2018 by Sky Mavis — a technology-focused game developer with a team primarily based in Vietnam. It was co-founded by Trung Nguyen and Aleksander Larsen.

Trung Nguyen is the current CEO of the platform. Nguyen graduated with a BS in computer software engineering, and worked as a software engineer at Anduin Transactions prior to founding Axie Infinity.

Former competitive gamer Aleksander Larsen is also credited as a co-founder and COO of the platform. Larsen has been working in blockchain gaming since 2017. He previously worked as the executive security officer for the Norwegian Government Security Organization and still sits as Secretary of the Board of Directors at the Blockchain Game Alliance.

In total, the Axie Infinity team consists of 25 full-time employees — many of whom have experience with game development.

What Makes Axie Infinity Unique?

Each Axie possesses six out of the hundreds of different potential body parts — each of which has its own battle move. This produces essentially endless variety among Axies, with most Axies having relatively weak statistics, while those with the strongest combination of body parts can have incredible stats.

Unlike some other blockchain-based battling and breeding games, each Axie can only be bred a total of seven times to help control the population of Axies.

Axie Infinity has its own mating hub to help players find a suitable match to breed their Axie with to stand the best chance at producing a rare or powerful offspring. It costs 0.005 ETH in addition to Small Love Potion (SLP) tokens to breed Axies.

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