AXS: a governance token for P2E game Axie Infinity

Sky Mavis, the Vietnamese studio behind the game and its native token, was founded in 2018 by Trung Nguyen and Alexander Larsen. The game concept was born in December 2017, possibly inspired by Trung and Alexander's mutual love for Axolotls. Axie Infinity's alpha version was released in December 2019. In early 2020, they listed the AXS token, paving the way for gamers and investors to dive headfirst into GameFi. 

In 2021, investment firms funded the game with $152 million at a $3 billion valuation. The funds came from Andreessen Horowitz, Accel, and Paradigm. Sky Mavis' partners include Ubisoft, Samsung, HTC, Klaytn, Binance, and others. Looks like the Axie Infinity team has some serious players on their side. 

In addition to being a governance token, AXS is an in-game asset that allows players to breed their characters. AXS is also one of the digital currencies supported by the Axie Infinity marketplace.

Tokens can be locked for a certain period in the game's staking pool to increase AXS holdings. Participation in staking is only available to users who actively contribute to project management and pass levels in the game.

AXS also grants access to the Community Treasury. This treasure trove of community funds, established at the beginning of 2021, is dedicated to helping the Axie Infinity community thrive. As the assets are distributed in a more decentralized manner, ownership of the fund will transition from Sky Mavis to AXS token holders.

Let's take a look at AXS token allocation: 

? 11% were allocated for the initial exchange offering;

? 4% were sold during a private offering;

? 29% were set aside for staking rewards;

? 20% are designated for earning in-game;

? 21% of tokens belong to Sky Mavis;

? 7% are utilized for marketing;

? 8% was earmarked for the game's community treasury.

AXS token ranks 47th on CoinMarketCap with a market capitalization of $1.1 billion. There are currently 111 million AXS tokens in circulation out of a maximum supply of 270 million. At the time of writing, AXS was trading at $10.40. During the launch, the token started at $0.1. According to the project's tokenomics, all AXS tokens will be in circulation by 2026.

Play-to-Earn collectible card game Axie Infinity, originally launched on the Ethereum blockchain, combines elements of battles and quests. At the height of its popularity, online users reached several million. To address this issue, in 2021, the Sky Mavis studio deployed the game on its own sidechain called Ronin, creating a smooth gaming experience for players. 

To dive into the world of Axie Infinity, players need to set up their Ronin Wallet and use the Ronin cross-chain bridge to move tokens. It's like entering a secret portal to a magical land.

Characters in Axie Infinity are adorable NFT creatures called Axies, that are similar to Pokemon, but with a unique set of genes, classes, and abilities. To earn in the game, players need to create a team of at least three Axies to battle against other players in the arena. They can also fight monster-bots in adventure mode. 

To maximize your profits in Axie Infinity, it's crucial to think ahead and strategize your moves. In addition, keep an eye on your opponents' cards. Axie's cards describe their fighting spirit, energy, health, attack power, and more, making them the key to victory in battle.

Axie Infinity also features SLP, an interchangeable token used for breeding new creatures. Offspring costs start at 100 SLP, but increase with each breeding. Axies can only breed up to 7 times. SLP can be earned by winning battles, bought, and sold on exchanges. 

In addition to AXS and SLP, there is also a metaverse element in the game - NFT land. It can be bought, rented, enhanced, and sold within the game. This feature allows players to create their own virtual spaces and earn from them.

It's not just a fancy title. Owning a piece of this virtual world gives players access to building their own headquarters, resource production, battling chimeras, and even discovering treasure-filled dungeons full of SLP and AXS.