How did Axie Infinity ignite the first fire in NFT games?

The long-silent NFT game suddenly broke out recently, and Axie Inifinity led the start of the Play to Earn (play to earn) craze.

The long-silent NFT game suddenly broke out recently, and Axie Inifinity led the start of the Play to Earn (play to earn) craze. Why did NFT, cryptocurrency and games enthusiastically collide in June, and what kind of chemical reaction will occur this summer?

Coin World-How did Axie Infinity ignite the first fire in NFT games?

The long-silent NFT game suddenly broke out recently, and Axie Inifinity led the start of the Play to Earn (play to earn) craze. Why did NFT, cryptocurrency and games enthusiastically collide in June, and what kind of chemical reaction will occur this summer?


Axie Infinity’s income in the last 7 days has exceeded June’s total income

Coin World-How did Axie Infinity ignite the first fire in NFT games?

According to data from Token Terminal, NFT game Axie Infinity has had revenues of US$13.6 million in the past 7 days, mainly from breeding expenses and sales in the NFT market, significantly surpassing Pancakeswap (US$2.6 million) and Synthetix (150 The income of the past week of MakerDAO (US$1.3 million), Metamask (US$923,000) and Curve (US$800,000) is equivalent to the sum of the income of these 5 DeFi applications in the past 7 days. Axie Infinity’s June sales exceeded US$121 million, an increase of 350.7% from the previous month.

Coin World-How did Axie Infinity ignite the first fire in NFT games?

Since the end of June, Axie Infinity’s secondary market performance has also been relatively strong. On July 7, the price of its token AXS has broken through a record high. Why does Axie Infinity have such a network effect?

Axie Infinity, in simple terms, is a turn-based Pokémon game on the chain. Similar to crypto cats, players can breed, breed, and trade fantasy creatures called Axies in the world of Axie, through battles and battles with other players. Complete specific tasks to obtain governance tokens. The token is abbreviated as AXS, which has four main functions. One is governance, AXS token holders will be allowed to mortgage their tokens to participate in the platform governance voting; the second is token mortgage, users can get corresponding weekly rewards by staking AXS tokens; the third is payment, Players can use AXS tokens to make various in-game payments; the fourth is trading. Because Binance, Upbit and Huobi Global are online, AXS can also be freely traded in the secondary market.

For specific gameplay and game introduction, readers can refer to the official tutorial link issued by Axie. PANews will not go into more details here.

PANews believes that Axie Infinity has exploded due to the following reasons.

Coin World-How did Axie Infinity ignite the first fire in NFT games?

First of all, Axie’s game mode is relatively innovative


“Earning while playing” is an emerging phenomenon that is currently popular in NFT games, that is, players collect rewards in the form of NFT (non-homogeneous tokens) in the game, and then convert them into real legal currency cash. Some games will also set up guild organizations, these game guilds will first invest a part of the game’s internal assets, lend these assets to the player community, and educate other players who want to join the game.

During the 2020 epidemic, many Southeast Asian countries began to lock down cities, people can only stay at home, and normal work has also been greatly restricted. The attractiveness of the Axie game itself encourages those who are not originally in touch with the blockchain to start. 

“For cryptocurrency investors, it may not make much sense to make 300 or 400 dollars a month, but for these people, it means everything, and it may far exceed the normal monthly salary of locals.” Mobile App Gabby Dizon, the Filipino co-founder of the development company Altitude Games, said, “The cash obtained from playing DApp games can be used to buy food. When they can’t even go out during the epidemic, this is saving them.”

Coin World-How did Axie Infinity ignite the first fire in NFT games?

PANews analyzes the traffic from Axie Infinity’s official website, and the traffic in Southeast Asia, especially in the Philippines, is growing at a very significant rate. In a sense, Axie Infinity provides a kind of inclusive finance with extremely low barriers to entry, and this kind of inclusive finance is presented in the form of gamification.

There was a documentary “Play to Earn: NFT Gaming in the Philippines” on Youtube in March 2021. In the film, a Filipino player said: “In the beginning I didn’t believe that I could really make money by playing games, but I still tried. We also made money. Due to the epidemic, we have no way to make money. This is one of the reasons why Axie can spread quickly in Cabanatuan.” Another pair of elderly married shopkeepers in the film also work and play. The 75-year-old husband, Lolo, said: “When I was in the store, I was playing.” “Even if I lose, I will continue to play.”

Axie Inifity uses NFT to obtain the rights of each Pokemon purchased. In order to raise these Pokemon, users need to buy or raise SLP or a small portion of love potion. Players can sell these Pokemon or SLP as cryptocurrency and then exchange it for local fiat currency.

Secondly, Axie’s community guidance is relatively successful

Axie’s community foundation is very strong, taking the route of “rural surrounding cities”.

Coin World-How did Axie Infinity ignite the first fire in NFT games?

Because the vast majority of Axie players have not touched the blockchain before, but as long as they have a mobile phone and internet, they can play Axie. It doesn’t matter if you don’t know how to play. The community even spontaneously launched unofficial organizations such as Axie University, Axie Scholars Scholarship, and Axie Guild.

Coin World-How did Axie Infinity ignite the first fire in NFT games?

(The picture above shows the unofficial Axie University and Axie Scholars Scholarship Program, this Twitter account has been officially followed)

On Youtube and Twitter, many KOLs have spontaneously produced instructional videos to let more people enter the world of Axie.

Coin World-How did Axie Infinity ignite the first fire in NFT games?

(Some players even took Axie to Mount Everest and taught the local Tibetans how to play Axie Infinity. The tweet was also reposted by Axie.)

In addition, Axie’s team has successful entrepreneurial experience and is relatively experienced in the game field

The CEO of Axie is Trung Thanh Nguyen and CTO Andy Ho, both senior programmers, have entered the ACM-ICPC finals in Russia and Morocco in 2014 and 2015 respectively. Before founding Axie, Trung founded a Vietnamese e-commerce company called Lozi at the age of 19 and raised US$10 million. The CTO of Axie previously interned at Google and Paypal, and worked for Anduin Transactions for many years. Axie’s COO Aleksander Leonard Larsen is responsible for all Axie’s business connections and also serves as the secretary of the Blockchain Game Alliance Committee. He was previously ranked among the top 200 professional players in Europe in “Warcraft 2” and represented the Norwegian national team in “Warcraft 3” and “Warcraft 2”.

On the whole, the core team has entrepreneurial experience, large-scale Internet work experience, and operating experience in the game field.

In addition, Axie’s partners are relatively leading institutions and project parties in the encryption field, with rich resources in the circle

Axie Infinity announced this week that it has completed a new round of financing of 7.5 million US dollars. Investment institutions include Blocktower Capital, Konvoy Ventures, Libertus, and there is no shortage of Dallas Mavericks owner Mark Cuban, Collab Currency’s Derek Schloss and others. It has also received two rounds of financing before. The second round of financing was led by blockchain game publisher Anomica Brands, followed by Consensys, Hashed, Pangea, and 500 Starups Vietnam.

It is worth mentioning that, according to PANews reports, last week blockchain game and NFT developer Animoca Brands announced the latest US$50 million financing. Currently the company’s total financing is as high as US$130 million, and its pre-investment valuation is 1 billion. The dollar, in a sense, has entered the door of the unicorn. The company’s investors, in addition to crypto industry giants such as Coinbase, also included a mysterious institution Blue Pool Capital, which is also the family wealth management fund of Jack Ma and Cai Chongxin.

In addition to institutional cooperation, Axie’s official website also lists many industry leading project parties, exchanges and traditional institutions, such as traditional game company Ubisoft, South Korean giant Samsung, leading exchange Binance, Upbit, and well-known project parties Aave and Kyber And Maker, and Delphi Digital, a senior blockchain research organization.

Coin World-How did Axie Infinity ignite the first fire in NFT games?

NFT is a hot spot in the current crypto market. Starting from the encryption art, and recently, major Internet companies, led by Twitter and Instagram, have begun to test NFT. For most NFTs, the application scenarios are relatively limited and relatively difficult to price or value. But when NFT encounters interactive games, many scenarios become diversified at once.

Many reasons have contributed to the explosion of Axie Infinity. Of course, this is also closely related to the NFT gamification and the acceptance of the blockchain industry by more people. Axie’s NFT game not only shows the world the attractiveness of NFT games to young audiences and residents of small countries, but also allows many people to enter the world of encrypted assets through inclusive finance. It also contributes to the prosperity of the NFT ecosystem. NFT once again

Posted by:CoinYuppie,Reprinted with attribution to:https://coinyuppie.com/how-did-axie-infinity-ignite-the-first-fire-in-nft-games/
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