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Axie Infinity is a blockchain game developed by Vietnamese studio Sky Mavis, [1] known for its in-game economy [2] which uses Ethereum-based cryptocurrencies. [3] It has been called 'a pyramid scheme that relies on cheap labor from countries like the Philippines to fuel its growth.' [ 4 ]
Axie Infinity, released in 2018 by Sky Mavis, is an example of a "play-to-earn" game, where the game incentivizes players to purchase and then improve NFTs through in-game activities which are then resold to other players by the publisher, with the player receiving compensation for their work. In the Philippines, where the game was most popular ...
NFTs can also be used to represent in-game assets which are controlled by the user instead of the game developer. NFTs allow assets to be traded on third-party marketplaces where players of games such as Axie Infinity or MyCryptoHero can trade their tokenised "Axies" or "Heroes". [1]
The Ronin public testnet will run until Jan. 18, when Axie Infinity’s new land system and related items will migrate over from its current sidechain, Loom Network.
In 2021, Shen became the advisor and mentor of the Vietnamese studio Sky Mavis for Axie Infinity, a Pokémon-inspired non-fungible token-based online video game where anyone can earn tokens through skilled gameplay and contributions to the ecosystem. [9] The early unique aspect of Axie Infinity is the space that created called "Play to Earn".
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While Axie Infinity Shards (AXS) tokens, were created using an Ethereum smart contract developed by an unaffiliated third party, in order to give token holders certain governance rights over the game Axie Infinity. [5] In both cases, different tokenomic attributes are chosen to support the token's intended role.
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