Sky Mavis is a Vietnam-based company that made Axie Infinity. Sky Mavis added an additional $152 million Series B just five months after raising a $7.5 million round of funding. The company is now worth $3 billion.
In 2021, almost any project showing decent growth will find itself showered in venture capital. There is a new kind of video game, one in which you can earn meaningful income just by playing, and that is what Axie is trying to stand up. The game is surrounded by a community that holds a financial stake in Axie via the game’s two currencies, which they can use to influence its development.
Arianna Simpson, a partner at the firm, said that Axie is just the beginning. I think this model is going to be widely applied. If I can play a game, have fun, and make money, I would rather do that. I think Axie is just defining a new category, and this mechanism is going to be baked into the coming generations of games.
Let’s get back to the topic at hand: what kind of game is Axie Infinity? It is Pokémon on the blockchain. You can either sideload Axie onto your phone or download it onto your computer. The game offers turn-based combat between teams of three cartoon monsters, known as Axies, and each Axie has powers from their type (bug, bird, plant, etc.) and their various body parts.
The question is how much bigger Axie can get. There is no getting around the fact that playing Axie today is very difficult. The eight-step process described in the company’s online guide involves at least three tasks, including the purchase of at least three Axies.
Rest of World estimates that it will cost around $1,500 to buy into the game. I have yet to make the leap myself. In the Philippines, companies are loaning out Axies to other players in exchange for 30 percent of their earnings.
Axie Infinity Twitter
The game has huge community in discord and reddit. Its expanding community is drawing a lot of people’s attention on social media platforms like twitter in the world of crypto games. People exchange value and information and create a friendly environment.
The phenomenon that began last summer exploded after an article was published in August, according to the documentary.
Jeffrey Zirlin, Axie’s head of growth, told CNBC that nearly 60,000 people are playing the game. The Philippines has been hit hard by the Pandemic and the digital game has taken off there. The decline in GDP in 2020 was the largest since data collection began. There was a spike in cases at the end of March in several cities. Almost one quarter of the population was impacted by those latest lockdowns.
One person in the documentary named Art Art said that he tried the game and it was earning him money. We don’t have any means of earning money because of the Pandemic. That is the reason it spread here. A couple of store owners play while they work. Lolo said that he was playing while he was in the store. I will play even when I am losing. NFTs are used for the rights to each pet that is purchased. You can grow these pets with either small-love Potions or SLPs. You can swap your currency for pets or SLPs.
Axie drew inspiration from other things. Zirlin told CNBC that as long as you have phone and internet access, you can play. The volatility of cryptocurrencies is a common criticism of the game. The price action makes some players angsty. The last month has seen an increase in the price of ether, but it was down on Thursday. Musk made an appearance on SNL which caused a 30% plunge in Dogecoin’s trading price.
What else do you need to know?
There is no age-verification process for Axie Infinity. Users under the age of 18 can use the MetaMask wallet if they have parental permission. This is also the case with other wallets. If you allow your child to open a wallet, they could easily sign up to play the game. Children are vulnerable to being taken advantage of by other players, and may not fully understand the consequences of the real money they are spending.