Why Axie Infinity Holds the Crown in the Gamified Play-to-Earn NFT Space

Work and play become one as Axie Infinity sees incredible growth in the past month, even with Bitcoin and Ethereum continuing to consolidate.

By
Dardania Havolli
on
August 1, 2021
Category:
BSC News

The Vision

This week we take a closer look at what sets apart the non-fungible token (NFT) gaming giant, Axie Infinity. The play-to-earn game has stormed ahead as the most popular crypto game. With such lovable NFT creatures called Axies, can you blame users?

The team’s initial aims offer us an indication as we try and figure out what distinguishes Axie infinity from other NFT gaming options. The motivation behind the project was clear from the outset.

“We believe in a future where work and play become one. We believe in empowering our players and giving them economic opportunities.” as outlined in the Axie team’s whitepaper. The team continued to outline a modest yet infectious aim they had from the very beginning. “Most of all, we have a dream that battling and collecting cute creatures can change the world. Welcome to our revolution.” 
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The Numbers Don’t Lie

Boasting the highest market cap of all NFT gaming projects by some distance, at nearly $2.5Bn––according to CoinGecko––it is difficult to argue that Axie Infinity is the king of the play-to-earn space.

The past month has seen media outlets sit up and pay attention to Axie Infinity’s numbers. On July 19th, Derypt’s Liam J. Kelly lauded the fact that the game has taken in an incredible $84.9M in funds for its treasury, just in the past month.

The rise in interest and engagement with Axie Infinity has been relentless. The play-to-earn NFT game’s token AXS has surged 600% in price in just one month. As documented by CoinGecko, at the beginning of July, the token was trading at just $5.66 and astonishingly rose above $50 by the 27th of the same month. 

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What makes this growth even more impressive is the fact that it comes as crypto heavyweights continue to trade sideways. 


Is Axie Infinity Just Built Different?

It is no surprise to see that members of the team behind Axie Infinity, Sky Mavis, were a part of Binance’s hugely successful launchpad program. 

The team boasts an impressive resume with graduates from top worldwide universities like Yale and with professional experience from companies like Google, PayPal, and Uber, 

Experience such as this has allowed the team to identify important opportunities to distinguish Axie Infinity from its competitors. Deciding to migrate the game from Ethereum mainnet to Ethereum-linked sidechain, Ronin was a crucial decision that had a definable impact on the NFT game’s growth. 

Aside from sounding like a kickass character name, Ronin is a sidechain specifically constructed for Axie Infinity. It handles all in-game and marketplace transactions and has drastically reduced gas fees and optimized transaction speed. 

The built-for-purpose sidechain has overseen a simplification of the onboarding process, meaning that people with minimal blockchain experience can immerse themselves in the game.

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It is no surprise to see that the inaugural validator on the Ethereum sidechain is none other than gaming giant Ubisoft, who has a rich history of creating and publishing generation-defining games like Assassin’s Creed and Far Cry. The ability to attract such a name is yet another indicator of the incredible achievements of Axie Infinity. 

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Safety and Beyond

The top application has done well to keep the assets of users protected. As exploits abound in the cryptosphere, it is refreshing to see that the Axie team takes special care in safeguarding users with regular reminders on optimizing safety. 

Rivals such as CryptoBlades are making impressive strides in the NFT gaming space on rival chains like Binance Smart Chain.  Ethereum’s coming hard fork should open the door for myriad more transactions in the game. New games are bound to compete with Axie Infinity. But, on current viewing, Axie Infinity is clear out in front. 

Where to find Axie Infinity: Website | Twitter | Medium | Discord | Reddit |


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Dardania Havolli

Dardania is an experienced researcher, editor and writer who is currently completing his PhD in Creative Writing. He is passionate about blockchain technology and the impact it will go on to have on our lives.

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