The Rise of Axie Infinity: From Hobby to Full-Time Job

In the world of Web3 gaming, few stories have captured attention quite like Axie Infinity. What started as a niche blockchain game quickly evolved into a global phenomenon, especially during the pandemic. For many, it became more than just a game—it became a livelihood.

What is Axie Infinity?

Axie Infinity is a blockchain-based game where players breed, battle, and trade digital creatures known as Axies. Each Axie is an NFT (non-fungible token) with unique traits, and players can earn cryptocurrency by participating in battles (similar to Pokemon) and breeding their Axies to create new, more valuable ones. The game runs on the Ethereum blockchain and uses its native tokens, AXS and SLP (Smooth Love Potion), as in-game currency.

A New Kind of Income

During the global COVID-19 pandemic, Axie Infinity took off in an unexpected place: the Philippines. With economic challenges and job loss affecting many communities, people turned to Web3 gaming as a potential income stream. The play-to-earn (P2E) model of Axie Infinity proved appealing. Players could earn SLP tokens by winning battles, which could then be traded for local currency.

For some, Axie Infinity became a primary source of income. One of the most compelling stories came from a small village where entire families started playing together, earning enough to cover food, bills, and even education expenses. In areas where daily wages might range from $5 to $10, earning up to $300 a month through gaming was transformative.

The Mechanics: How Players Earn

Players typically start by purchasing or borrowing a team of Axies. They battle other players or complete daily quests to earn SLP. Breeding Axies can also yield profits, as rare or desirable traits fetch higher prices on the marketplace. Some players even set up “scholarship” systems where wealthy Axie owners lend their creatures to new players, splitting the profits.

Challenges Along the Way

While the early days of Axie Infinity saw a gold rush, not everything was smooth sailing. As more players joined, the SLP token's value fluctuated wildly. Earnings diminished, and many who invested heavily in the game during its peak found it harder to recoup their expenses. Additionally, security became an issue when Axie Infinity suffered a significant hack, losing over $600 million from the Ronin blockchain bridge. The hack shook confidence in the ecosystem, but developers moved quickly to reassure users, ultimately compensating victims.

Learning from Success and Failure

The rise and challenges of Axie Infinity hold valuable lessons for both gamers and developers. The game’s initial success demonstrated that people are willing to invest time and money if they feel ownership and potential profit. However, sustainability and economic balance are crucial. As token values drop and player bases shrink, maintaining long-term viability becomes the central challenge.

The Future of P2E Gaming: What Will Be the Next Axie Infinity?

Axie Infinity may have been the first Web3 game to break into the mainstream, but it won't be the last. As the Web3 gaming landscape evolves, new contenders are emerging. Games like Illuvium and Gala Games are drawing attention for their focus on immersive gameplay, sustainability, and community-driven ecosystems. Developers are learning from Axie’s successes and challenges, seeking to build more balanced economies and lower barriers to entry.

The next Axie Infinity will likely blend engaging gameplay with a sustainable P2E model, integrate interoperability across gaming ecosystems, and foster stronger, more resilient communities. Keep an eye on platforms that are innovating both in user experience and economic models—they might just be the next big thing in Web3 gaming.

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Other Articles In This Issue:

• Editorial: Leveling Up: Why Web3 Gaming Matters

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