Axie Infinity Review: The Hype Is Real?

You asked us for an Axie Infinity Review – and now you got it! Axie Infinity is a blockchain-based Pokémon-themed game developed in 2018 by a Vietnamese-based video game studio called Sky Mavis.

It is a multiplayer online game built on Ronin Network. Ronin is an Ethereum-linked side chain developed by developers at Sky Mavis.

The game allows players to breed, grow, combat, and trade Axies. Each Axies are collectible non-fungible tokens (NFTs) required to play the game. Each player must buy and own at least three Axies to play the game.

The game development began in 2017, led by the co-founder and CEO Nguyen Thanh Trung, with Tu Doan, Aleksander Larsen, Jeffrey Zirlin, and Andy Ho.

The development team revealed the initial fighting system for Axie Infinity in October 2018. The real-time card combat system and application’s development started in March 2019, and an alpha version was made available in December 2019.

In 2021, the Axie Infinity developer launched the Ronin wallet to help speed up transactions, eliminate high gas fees, and offer the opportunity to play other decentralized Applications (games).

At the time of writing this review, Axie infinity has over 700,000+ active monthly players, and approximately 40% of these players are from the Philippines.

The game has two tokens: Governance Tokens — Axie Infinity Shards ($AXS) and the Reward Tokens — Smooth Love Potion (SLP). Later on, I will discuss more on these two tokens under tokenomics.

In this article, I will evaluate Axie Infinity on a scale of 1-10 using seven different criteria and give you my opinion about the game in each criterion.

Let’s go!

Graphics & Design

Axie Infinity graphics are bright, colorful, and full of life. The characters have an anime feel, which might help the players understand the game better.

The game also has some clever design features such as collecting different kinds of cards to build up your deck. This means there’s much strategy involved when playing the game because each card has its unique abilities, which need to be used together for you to win games.

However, I have to say, I’m not a fan of the graphics and design of the game. The whole idea is that you’re a cute little animal with big eyes who can fly through space, but it seems like they didn’t care about your character. The graphics are basic and look like something out of an old Nintendo game. If they wanted to make sure the game appeals to a wider demographic of people, they should have done something a little more modern like we have seen in other crypto-based games.

Overall, I think that Axie Infinity has some cool features that make it stand out from other games in its genre – this includes the fact that it doesn’t use traditional weapons like swords or guns. Instead, it uses elements like flowers or butterflies as weapons which makes for a much more interesting experience!

With that said, I think when it comes to Graphics and Design, I will give the game a 6 out of 10.

Gameplay

Axie Infinity is a Crypto-NFT-based game, players earn as they play: this is widely referred to as the Play to Earn (P2E) Model.

Axie Infinity is the first blockchain game that popularized the “Play to Earn” (P2E model). Play to Earn is a recent trend that gives token prizes to blockchain game players for participating in various activities inside the virtual gaming world.

Initially, Axie Infinity did not follow the normal free-to-play Model in traditional gaming and other crypto games. However, after unveiling the latest edition in April 2022, the company said the game now features free in-game starter axies. This is in an attempt to appeal to prospective users who can not purchase the three axis required to play – which is about $400 in 2020 but now cost approximately $100 in march 2022.

Axie Scholarship is another intriguing aspect of the game. Players that want to play the game but don’t satisfy the conditions can be contracted by other players who have enough tokens to play for them. The winnings would be divided based on agreement. In this way, you don’t even have to be a gamer before you can earn on Axie Infinity.

The game takes place in the world of Axie, a fantasy land where you can battle with other players or AI opponents.

The game has two different modes: Arena mode and Adventure Mode.

In adventure mode, you’ll play through thirty-six different adventures with your character.

In arena Mode, you can play against other players for rewards or earn more coins by completing certain tasks like defeating certain enemies or completing certain quests.

Axie Infinity has fantastic gameplay that is truly engaging and rewarding. It’s an easy 8/10.

You can find a comprehensive visual on the gameplay via this YouTube video:

Game story

Although, according to the developer, Axie infinity was inspired by well-known classics like Pokemon and Tamagotchi. However, the game is not really based on any meaningful stories, though the effect of Pokémon and Tamagotchi are visibly incorporated into the game.

In Axie Infinity, players can create avatars and customize them. They will then battle against other players’ avatars in real time — and if they win, they’ll earn money based on how many points they have accumulated throughout the match!

Based on the game story, I will give Axie Infinity a generous 5 out of 10.

Music

Axie Infinity’s in-game music mixes upbeat electronic tracks with an underlying mood of hope, determination, and adventure. The music is dynamic and unique, shifting from moderately paced to slow and heavy as the game progresses.

The game’s music helps players to be more conscious about in-game happenings. This makes it easier to navigate through the levels and stay motivated throughout without losing interest.

You can listen to the Lofi hip-hop version of the in-game here:

Or download it on boomplay.

It is also available on Apple Music, Shazam, Spotify, and other streaming platforms.

Overall the game music is a solid 8 out of 10.

Tokenomics

The game uses a tokenomics model similar to other successful blockchain-based games like CryptoKitties. Instead of using an initial coin offering (ICO); crowdsale model, Axie Infinity issues its native tokens, which are required to play the game.

These tokens are sold through an online marketplace that allows players to purchase them with other cryptocurrencies or fiat (dollars and euros).

The marketplace also serves as a “server farm” for Axie Infinity’s network – it handles all of the game’s transactions and keeps track of player accounts so that everything runs smoothly. This means that any time someone wants to make an in-game purchase, they only need to access their wallet app.

The two in-game crypto tokens are:

Axie Infinity Shards (AXS) and Small Love Potion (SLP).

Axie Infinity Shards (AXS)

This is an ERC-20 governance token for the Axie Universe (AXS). It is the game’s digital currency, and holders get incentives when they stake their tokens and play the game.

In addition, AXS functions as a governance token that enables holders to influence any game modifications in the future.

 Players can also purchase AXS with fiat or use their digital assets (such as Bitcoin) to trade for AXS. The more AXS you have, the more powerful and rare your axies creatures become.

AXS has a supply cap of 270 million with a market capitalization of over 1.1 billion USD as of the time of writing this piece.

AXS reached an all-time high of approximately USD165 on November 26, 2021, and an all-time low of $0.1 on November 6, 2020. AXS is down 92% from its all-time high and currently trading for $12.71.

Smooth Love Potion (SLP)

Formerly called the Small Love Portion, this is the in-game reward token.

SLP is an ERC-20 utility token that can be purchased and sold on a decentralized exchange and has a value similar to other cryptocurrencies.

Previously, players get SLP by spending time in the game, engaging in battle or adventure mode, which means the more you play, the more SLP you earn.

However, due to inflation, Sky Mavis changed this approach in February; players no longer get SLP by spending time or engaging in adventure mode

Now, SLP is only available when you battle against another player in the PVP arena mode. By doing this, Sky Mavis has reduced the number of SLP minted daily, lowering it to about 167 million tokens per week, as against the over 300 million tokens per week before the changes.

It is also important to note that SLP is still inflationary, as only about 18 million tokens are burned daily following the update.

SLP is currently trading for $0.0034, slightly above its all-time low of $0.0031. Its all-time high is approximately $0.4.

Axie Infinity NFTs

Another important aspect in the tokenomics of Axie Infinity is the area of Non Fungible Tokens (NFTs). Axie Infinity is widely regarded as the leader of the NFTs gaming ecosystem.

The in-game digital assets, such as the Axies creatures, are represented by NFTs, allowing players to trade their Axies as an NFT in the game’s marketplace for fiat or cryptocurrency.

Axie Infinity has the third-highest sales across all NFT platforms. the game rakes in about $4.17 billion in total NFT revenues as of March 2022, behind OpenSea’s $23.21 billion and LooksRare’s $18 billion.

Lastly, Axie Infinity has tokenized plots of virtual land called Terra in the Lunacia (the Axis homeland).

Although this concept is still in its early stages, but the idea is that players will be able to purchase, rent and develop these virtual plots; they can also find AXS tokens and other resources hidden across these plots in the Lunacia.

These discovered resources can then be used to upgrade Axies or the land. The endless possibilities in this concept will lay the path for the continued popularity of Axie Infinity.

While It’s obvious that Axie Infinity has carefully planned and well-orchestrated tokenomics, there are still some improvements to be made, and that’s why I will give a well-deserved 9 out of 10 for the game’s tokenomics.

Community

The Axie Infinity community has been growing rapidly since the game was launched.

Its initial user adoption and transaction volume explosion resulted from the COVID pandemic, which accelerated the game dynamics as most people were at home and had more time for gaming.

The game had about 50,000 monthly active players in September 2020. This increased by nearly 3,800% to almost 2 million monthly players in September 2021.

Statistically, most of these players were from developing nations like the Philippines (which has about 40% of the players’ base), Thailand, Vietnam, and Venezuela.

Players from these nations were playing not only for pleasure but as a means of earning money to support themselves during the pandemic.

Sky Mavis also has a deep interest in their game’s community. One of the integral parts of the company’s goals is to have a solid community base. In the words of the company:

To date, our goals have been to: Build a solid, healthy, positive community that can help attract new players into our ecosystem. Deliver features at the bleeding edge of blockchain gaming technology and use the Axie universe to show them off. Refine our product with feedback and suggestions from the community. Because we started with a community from day one, we’ve been able to build our game while getting a constant stream of feedback from you, the early Axie family. This is a luxury few game developers have ever had, and something we believe will pay off dramatically in the long run.

Axie Infinity Development Team

You can read more about it in this link right here.

Quite recently, the company released comprehensive information on their community development to date. You can access it through this link.

I believe that the company has been largely successful in its effort to build a game that has the community as an integral part of its ecosystem. I give the game a 9/10.

Earning Ability

Axie Infinity is one of the pioneers of the play-to-earn (P2E) Model in the gaming industry. At the time the game was launched, P2E gaming model was relatively new to the gaming industry.

Players earn crypto assets in the form of the game’s tokens, the Axie Infinity Shards (AXS) and the Smooth Love Potion (SLP).

In Axie Infinity, you can also breed your axies and sell them as NFTs in the marketplace. The rarer your axies, the higher the amount you can sell.

Each player’s earnings vary significantly. Some players can earn as high as $24 daily, while some earnings will be significantly lower depending on factors such as the type and rarity of your axies.

While it can cost you a little over $100 to play axie Infinity, you can also play if you don’t have the required amount.

To do this, you need to enroll in the axienscholarship program provided by various Guilds (an organization that offers axie scholarships).

This Guild will help you pay the amount required for a player to play the game and you will share the money made in the game with them based on agreed proportion

Compared to when the game was newly launched, the profit you can make by playing Axie Infinity has significantly decreased. So, the early adopters had the best opportunity to earn more.

The only downside to Axie Infinity is that though it employs the P2E Model, it’s not Free-to-play.

However, the developer has announced a significant change that would make Axie Infinity free-to-play. Having noted and considered every factors together, I assess the game 7 out of 10 under the earnings criteria.

Frequently Asked Questions

Axie Infinity Review: Conclusion

There is no doubt that Axie Infinity has raised the standard and revolutionized the gaming industry by giving gamers more power and making them the core beneficiary of the game’s financial economy.

The global gaming industry generates about $120 billion annually and has an estimated three billion gamers.

Previously, the traditional game usually took 100% of this revenue. With the advent of crypto games like Axie Infinity, these dynamics are constantly changing, and players are more interested in making money from their gaming time.

Axie Infinity has generated an estimated $4.2 billion in revenue from 2018 to date, and it only takes 4% or about $180 million, while players share the rest.

That noted, Axie Infinity needs to improve the security of users’ funds. Early this year, approximately $620 Millon worth of Ether and USDC were stolen in two transactions, and it took almost a week for the company to notice the hack.

This is the largest hack in crypto history; it led to a massive fall in the price of SLP. Although the company says it will recover some of the stolen funds, it will take years to do that.

Furthermore, it should be noted that most players admitted to playing Axie infinity are playing to earn, which means the game did not ordinarily appeal to their interest. Fewer players will play if it’s not play-to-earn.

I believe games should be fun. The thrills and fun of playing games should naturally be the core driver for game adoption.

In the future, creators of crypto games should focus more on making their games more engaging that players would naturally want to play even if there are no earning incentives.