When the Going Was GoodĪxie Infinity was a huge success due to its target audience. SLP hit a record high of 40 cents in mid-July and AXS hit $165 in November 2021 during the longest crypto bull run ever.Ĭryptoassets are a highly volatile unregulated investment product. Its in-game cryptocurrencies skyrocketed in value as well. This meteoric rise saw Axie Infinity attract significant investment from crypto-focused firms like Andressen Horowitz, causing the company to hit a $10 billion valuation. ✨4.5 B total value on Ethereum sidechain Ronin represented the Axie nation! The platform had over 2 million daily players logging into its website to battle for experience points and perform a host of other activities. The crypto market witnessed a remarkable inflow of investments in 2021, and Axie Infinity enjoyed significant player growth. SLP is used to breed in-game characters called Axies, and AXS performs a more sophisticated role of enabling governance through staking. To aid this model, the protocol runs on two in-game tokens named Smooth Love Potion (SLP) and Axie Infinity Shards (AXS). With the proposed model, users who buy Axie Infinity can play its game to generate passive revenue. The P2E game was initially launched on the Ethereum blockchain, but the slow transaction speed and high gas fee for verifying transactions forced the protocol to launch its own centralised network, called Ronin.īlockchain purists have made known their feelings about the centralised architecture of the Ronin network, but the in-game transaction protocol has proven to be faster and more cost-efficient.Īxie Infinity became a global sensation following its promise of enabling a ‘play-to-earn’ model. Early BeginningsĪxie Infinity is a blockchain-based gaming protocol launched by technology firm Sky Mavis in 2018. The latest revelation from prominent financial journalism company, Bloomberg, indicates that the premier play-to-earn (P2E) game, Axie Infinity, is on a sharp decline. With the unfurling of digital assets, a number of projects have been hard hit by strong bearish activities.
#BLOCK CITY WARS COIN GENERATOR HOW TO#