Blog NFTs Axie Review: The Top Gaming Platform of Tomorrow?

Axie Review: The Top Gaming Platform of Tomorrow?

date January 22, 2022 time 5 min read 1372 views

The future of gaming is coming, and Axie Infinity is poised to be right at the forefront of the changes. At first glance, the platform hosts a simple game where monster characters compete in battles, but its use of NFTs could make it revolutionary. Our Axie review gets to the core of what the platform does, along with how its native token AXS has been performing.

Gaming is often at the forefront of innovation and new technology, from handheld game consoles to motion-sensing controls to virtual reality. It seems that the third decade of the 21st century might well be when gaming goes through its next renaissance—NFTs, crypto, and blockchain are combining to power the next revolution. In this Axie review, we’ll explain why this particular gaming platform could be at the center of the new world.

To do that, we’ll introduce Axie Infinity, dive into its technology and features, and explain how its native token fits into the picture.

Introducing Axie Infinity 

Since non-fungible tokens (NFTs) captured the public imagination in early 2021, they’ve mostly been associated with digital art. But as more innovation takes place in the NFT world, a wider range of use cases have sprung up, some of which includes gaming.

Axie Infinity is a play-to-earn platform with a twist
Axie Infinity is a play-to-earn platform with a twist. (Source: Axie Infinity)

It might not be apparent initially, but NFTs and gaming are natural counterparts. Gamers have always wanted to purchase in-game items, whether it’s armor on Runescape or extra furniture on The Sims. Many games had had their own in-game currencies long before Bitcoin emerged, and these tokens are often said to be the predecessors to cryptocurrencies. 

Yet the blockchain has taken things to the next level by making things decentralized—players can purchase their in-game items as NFTs, meaning their ownership is put onto a public ledger and no longer reliant on a single server or gaming company. If the platform is hacked, goes offline, or the user is suspended, that ownership won’t disappear automatically.

Some have even predicted that users may be able to use the same NFTs in multiple different games as part of the “metaverse” in the future. But anyway—back to Axie. Is it going to be among the investment trends in the future?.

What is Axie Infinity?

It hit a trading volume of $1 billion in August 2021, so it’s worth taking Axie Infinity seriously. But what exactly is it?

At its core, Axie Infinity is a game in which players battle against each other and earn rewards in the process. It’s loosely inspired by Pokémon too, which is pretty cool. But what makes Axie really interesting is that NFTs are at the center of these battles—monsters called Axies do the fighting, and players buy their Axies in the form of NFTs. 

These NFTs are also collectibles, and they can then increase or decrease in value, making it possible to make money online and earn a profit from trading them. Axie Infinity is a play-to-earn game, but it’s also so much more.

The rewards players earn are another kind of digital currency called Smooth Love Potion (SLP) tokens, which you can exchange for “real” money. However, Axie Infinity Shards (AXS) is the game’s main currency. The platform’s top players can earn AXS for playing, but the supply is limited (unlike SLP, which is relatively easy to earn). In general, players trade their SLP for AXS.

This is where Axie’s own NFT marketplace, Axie Marketplace, comes in. Players can use their AXS to buy in-game items or to trade NFTs. AXS is also a governance token, meaning that tokenholders get a say in how the platform is run and the direction it takes.

How Axie Infinity works

Axie runs on the Ethereum blockchain, which allows it to host un NFTs (since they require a blockchain protocol like Ethereum, which supports smart contracts). As a result, both AXS and SLP are ERC-20 tokens.

As you hopefully know by this point in our Axie review, Axie Infinity is a play-to-earn gaming platform.
As you hopefully know by this point in our Axie review, Axie Infinity is a play-to-earn gaming platform. (Source: Unsplash)

Ethereum is currently the leader in the blockchain gaming space, although other smart contract blockchains like Solana could take its place in the future as they develop more and overcome its limitations (such as lack of scalability). However, Axie Infinity uses a sidechain called Ronin to overcome some of these problems—Ronin helps to keep fees low and reduces transaction delays.

Speaking of transactions, let’s take a look at what the AXS coin price has been doing recently.

AXS coin review

Now you’ve had a glimpse into what Axie Infinity is all about, let’s take a deeper look at what the AXS coin price has been doing over the last few years.

It was first launched in November 2020 at a value of $0.15, and that didn’t change for a few months. Many cryptocurrencies enjoyed a massive spike when the crypto market went through its boom in April 2021, and AXS did have a slight jump up to $10.1. However, this was nothing compared to what would come later.

AXS benefitted from three major price increases: to $46.96 in late July, then to $82.21 in September, and finally to its all-time high of $160.36 in November.

It’s fair to say that the AXS coin price has been somewhat volatile over the last few years.
It’s fair to say that the AXS coin price has been somewhat volatile over the last few years. (Source: CoinMarketCap)

As is so often the case with cryptocurrency prices, this rise was followed by a sharp drop, and by January 2022, the value was hovering around $76.62. Still, this is a long way above where AXS in January 2021, so it’s certainly not game over (get it?) for Axie yet.

The platform has had a promising start, but potential investors would do well to remember that it isn’t the only gaming platform of its kind. For instance, Lucky Unicorn is another play-to-earn gaming platform that incorporates NFTs. 

How to buy AXS crypto

Now we’ve given a thorough Axie review, you might be wondering where you can buy AXS crypto. It’s available on many of the biggest cryptocurrency exchanges, including Binance, Coinbase, and Kraken, so no issues there. Or you could always earn it through fighting those monsters.

Earn NFTs with MyConstant

Our Axie review has given you the basics of what Axie Infinity is all about, but we’re only just scratching the surface of what the world of NFT gaming could hold in the future. As for whether Axie will come to be known as a ringleader or an ancient artifact, we’ll leave it to you to make your own mind up. Regardless, it looks like NFTs are here to stay.

That’s why, at MyConstant, we’ve launched our own NFT offering. We’re also giving out NFTs and guiding how you can score NFTs as rewards when you reach certain milestones.

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George Schooling

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