3/25/2023 0 Comments Axie infinity download7% of the AXS are dedicated to advisors, with another 8% dedicated to the Ecosystem Fund. Token EconomicsĢ1% of the AXS allocation is dedicated to Sky Mavis, the parent company of Axie Infinity. Axie revenue is up over 17,000% since April 1 as user growth accelerated dramatically in Q2. Axie uses Ronin, an Ethereum sidechain, to allow for faster and cheaper smart contract interactions instead of using native Ethereum.Īxie has quickly become one of the highest revenue projects on Ethereum. Axie Infinity Shards (AXS) are the governance tokens behind the Axie Infinity platform, while Smooth Love Potions (SLP) are the utility token. AXS token launched with the goal of allowing players to get paid for winning battles and tournaments on their platform in the native AXS token and SLP token. Axie Infinity BackgroundĪxie Infinity initially launched in 2018 as a traditional online game but gained notoriety with the addition of the AXS token into the Axie ecosystem in November of 2020. On top of the ease of entry, players are incentivized to play as they are paid for their time rather than paying for time. The implications of this shift are enormous the barrier to entry is removed almost entirely as anyone with internet access can play the games, and there is little to no cost to get started. In a Play-to-earn model, users do not have to pay to play and instead are rewarded for in-game activity with virtual currency that can be exchanged for dollars (or other virtual currencies). Pay to play means that users can subscribe to a service, purchase a physical game, or buy in-game items by loading dollars onto their gaming accounts. In a traditional model, users pay to play. While games like Fortnite have innovated the earnings model for companies like Epic Games, there are innovations in the blockchain space that allow for the model to be shifted entirely. Epic Games still saw substantial revenue from Fortnite, despite its ‘free’ download cost, which demonstrated the viability of alternative gaming models. The impact of this change was massive, with Fortnite being able to onboard millions of players in just the first few months of launch by lowering the barriers to entry by not requiring players to purchase the game. That model has changed in recent years, with companies like Epic Games rising to popularity using a unique model that allows players to download the game for free but have the option to pay for in-game items and/or subscription services. Traditional gaming models revolved around players paying for the cost of the game itself and buying in-game points that added value for the user. By adding virtual assets to the blockchain, users have been able to create wealth in new ways.Īccording to Pew Research, online gaming has also grown immensely in recent years, with more than one-third of teens playing video games at least once per week. Over the past few years, blockchain has emerged as one of the most valuable tools in adding value to previously illiquid assets.
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