Key highlights:
- The Axie Infinity project has raised $860,000 with a token sale for the AXS governance tokens
- Axie Infinity is a game on the Ethereum blockchain where users can collect and battle with creatures called Axies
- Non-fungible token technology ensures that users can truly own their Axies and verify their uniqueness
Axie Infinity raises $860,000 with AXS governance token sale
Axie Infinity is a blockchain-based game which can best be described as a combination of Pokemon and CryptoKitties. The game leverages Ethereum’s non-fungible token standard so that players can collect unique Axies, and has more than 10,000 monthly active users.
Recently, Axie Infinity raised $860,000 in a token sale for its governance token AXS. The governance token is useful for everyone in this platform, from payers to developers. However, the token is not just used in governance, as it can also be leveraged for staking and making payments.
Sky Mavis is the company behind Axie Infinity, and it is based in Vietnam. Axie Infinity is going to launch its mainnet in early 2021. In the upcoming ecosystem, users can play and earn governance tokens. This gaming platform has huge partnerships, including partnerships with Samsung and Kyber Network.
How is Axie Infinity played?
If you want to start the game, you need a minimum of three Axies. Axies are the pets or creatures you use to play against the environment or other players. You can start the game with around $20 in Ethereum. If you want to get a better situation in the game, you need to spend more.
Maybe you think it’s a lot of money and no one pays it to play a game, but this is not the case. Some players are actually earning money through Axie Infinity. The money that can be earned through Axie Infinity is not a huge amount for people in the US and European countries, but represents a significant amount for many people in developing countries. The game is easily accessible, as players only need a smartphone and some Ethereum.
The game is a kind of cryptocurrency investment. People buy tickets to this new world, and they can utilize their time and skills to make a living. Earning and playing a game is a dream for many people worldwide that Axie Infinity wants to realize .
Axie Infinity will use the funds raised through token sales to fund further development. After releasing the mainnet in 2021, users will be able to play in free mode, too.
Axies can fight against each other in this game, and they can produce children. The game also has a decentralized market, and users can trade Axies globally there. All the items for this game are in the testnet right now, and migration to the mainnet is on the horizon.
Axie Infinity is a genuinely new model in gaming, and will become even more appealing when more original elements like land ownership are introduced. Right now, the game is a little challenging for newbies, but it will become much more accessible after the mainnet is released.
