The new crypto frenzy – P2E gaming brings video games to the metaverse. Taking this world by storm comes Axie Infinity’s blockchain game! At a point in 2021, it had grown 18,000%! That was thanks to community involvement and interest.
What is Axie Infinity?
Axie Infinity is easily one of the most popular and successful blockchain games. Driving from the crypto frenzy of the metaverse, Axie Infinity takes it one step further. Combining the best of both worlds, Axie Infinity makes each 3D playable character an NFT. Thus, increasing the utility token and value of the game and its assets.
The game structures itself around the NFT characters known as Axies. A player must have a minimum of three Axies when beginning the game and while the prices might vary, the cheapest one sells for around $200 with the most expensive Axie sold in 2021 ranking up a whopping 300 Ether ($130,000).
Players can then buy, breed, and pit these Axies against each other, all in a bid to win in-game currency known as Small Love Potions. This can then be exchanged as fiat cash.
A look into the numbers of Axie Infinity’s Blockchain game
Axie infinity saw a major rise in earnings since its launch in 2021. As of October 2021, Axie infinity boasted a market cap of a whopping $7.5 billion.
Additionally, the coin generated a revenue of $700 million in revenue from in-game transactions with up to 2 million daily users.
It continued to widen its range by opening up to staking abilities wherein users could hold their tokens to generate new ones. (To learn more about crypto staking see here). As of 2021, Axi Infinity possesses an annual percentage rate of return of 161%. With the company being valued at $2.3 billion. Easily giving it the title of the best performing coin of 2021.
As of 2022, Axie infinity’s blockchain game has surpassed $4 billion in NFT sales.
The video game and P2E
The Play to earn aspect of Axie Infinity’s blockchain game is its most endearing facet. With players being able to generate and collect in-game currency called Small Love Potions. These can then be converted to fiat money (real cash!).
Players compete for these tokens in several ways such as fights between the Axis or selling them on the Axie Infinity marketplace.
The concept of Play to Earn games, combine aspects of video gaming with cryptocurrency and the metaverse. Thus, amassing users from a series of backgrounds. And with the ever-growing popularity of P2E games, Axie Infinity may only go uphill from here!
