Sky Mavis raised US$1.5 million in November 2019 to accelerate the development of Axie Infinity, attracting prominent investors such as Yat Siu of Animoca Brands, Sébastien Borget of The Sandbox, and Simon Kim of Hashed. To get the game off the ground, a sale of Axies was held in February 2018, which resulted in 3,112 being “adopted” in exchange for Ethereum. Is Axie Infinity creating the open metaverse economy of the future? To answer that, we’ll take a look at how the game works, its underlying technology, and its future potential. Axie Infinity kicked off a play-to-earn revolution for gamers around the world, especially in developing nations where, in some instances, people quit their jobs to take up gaming as a source of income. One critical difference is that players can actually make a living without being top-ranked. Sound familiar? It should, since it’s based on the values of classic MMOs like Runescape, Guild Wars 2, and The Elder Scrolls Online. These cute, Pokemon-inspired monsters will be pitched into battle against one another in a digital arena. Players need digital pets known as Axies in the form of NFTs. Well, Axie Infinity can be thought of as its blockchain-powered cousin, except the collectibles are replaced by non-fungible tokens (NFTs), and instead of fictitious gold, you earn cryptocurrency. You’ve probably heard of World of Warcraft, arguably the most popular MMO (massively multiplayer online game) of all time.
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