Axie Infinity Report by Jesse

Another fork and to no one’s surprise, this week’s Bitcoin Cash split was met with almost no interest from the markets. With everyone watching Bitcoin continue to hold above 16k USD, some altcoins are quietly gaining traction in the background. One of those projects continuing to go up in price since its release is an open-ended digital pet universe called Axie Infinity.


Axie Infinity is a Pokémon-inspired universe where anyone can earn tokens through skilled gameplay and contributions to the ecosystem. Players can battle, collect, raise, and build a land-based kingdom for their pets. All art assets and Axie genetic data can be accessed by 3rd parties, allowing community developers to build their own tools and experiences in the Axie Infinity universe. Although Axie is still in early access, Axie is ranked the #1 Ethereum game by daily, weekly, and monthly active users. Generating over 6,400 ETH in revenue ($2M+ USD) so far. While Axie is a fun game, it’s also taken on characteristics of a social network and jobs platform due to the strong community and play to earn opportunities that have come from its early success. Where the Axie universe goal is to be fun, above all else. Only by having this immersive gaming experience can the ecosystem attract enough participants to add value in the network.

The Axie battle system is a turn-based card game where the goal is to use your 3 Axie to eliminate the enemy team with a minimum deck of 24 cards. Each turn, a player strategically plays cards that maximize their chance of victory. Axie’s stats are dependent on two variables: class and body parts. Each Axie has 6 distinct body parts. The horns, mouth, back, and tail determine which cards an Axie can use in battle. While the eyes and ears do not. Each body part also adds stats depending on Class. A Class is like “types” from Pokemon and are broken into six groups that are Plant, Aqua, Reptile, Beast, Bug, and Bird. When calculating damage, the card class of the attacking move is compared to the Axie class of the defender where extra or reduced damage is based on class affiliations. Also, when an Axie of a certain class uses a card from its own class it gets a 15% attack/shield bonus. For example, a Plant Axie playing a plant card will receive 15% extra attack/shield.

In battle each Axie has different traits which determine their role and stats separated into four categories: Health, Morale, Skill, and Speed. Health like most games is the amount of damage your Axie can take before being knocked out. Morale increases your Axie’s critical strike chance and also makes entering the last stand more likely while adding more last stand “ticks”. Skill adds damage when an Axie plays multiple cards at once (combo). The extra damage is calculated like this: (card attack * skill )/ 500. Speed determines turn order where faster Axie’s naturally attack first. Speed also decreases an Axie’s chance of being the victim of a critical strike. Where If two Axie’s have the same speed, the attacking order is determined by High speed > Low HP > High Skill > High Morale > Low Fighter ID.

Like real-world pets, Axie’s can be bred to create new offspring. These offspring can be used in battle, to breed more offspring, or can be sold in the marketplace. But, to manage the Axie population, breeding has certain resource requirements. Each Axie can be bred a maximum of 7 times. Costing players .005 ETH (+gas) and Small Love Potions that can be earned by playing the game in Adventure mode as well as the Arena. This means that with some time and effort, there is a clear path to earning in Axie Infinity. But, If you don’t want to use your potions to breed, you can sell them on Uniswap. With advanced users given the ability to act as a liquidity provider/market makers. Land also plays a very important role in the Axie Infinity world called “Lunacia”. The Axie homeland is divided into 90,601 plots of non-fungible tokenized land which act as the homes and bases of operation for Axie. Plots can be upgraded over time using a variety of resources and crafting ingredients that can be found when playing the game. Also, land-owners might find AXS tokens on their land plots, or use the Axie’s that occupy the land plot to explore resource nodes on the map. When interacting with plot nodes, Axie’s can find AXS and other resources. In Lunacia there’s monsters called Chimera terrorizing the world. Players will be able to take on Chimera in real-time battles either alone or in groups. Chimera will drop an assortment of resources, items, and blueprints used to upgrade land and individual Axie’s. Players will eventually be able to create games using the Lunacia SDK map editor and place these games on land that they own.

In October 2018, the Axie core team released the first battle system built on top of the Axie game assets. The battle system was structured as an “idle battle” system with inspiration from games like “Final Fantasy Tactics” and “Idle Heroes” at first. The Axie team started development on the current real-time card battle system and application in March 2019 and released an Alpha in December 2019. Statistics show as of November 2020, the application has amassed over 15,000 downloads with over 7,000 weekly active users. Additionally, Axie has integrated with Chanlink Oracles to use the Verifiable Randomness Function (VRF) to introduce fair elements into the Axie universe, starting first with Axie Origin Coins (AOC).

The Token

Axie Infinity Shards (AXS) are an ERC-20 governance token for the Axie Universe. AXS holders will be able to claim rewards if they stake their tokens, play the game, and take part in key governance votes. Players will also be able to earn AXS when they play various games within the Axie Infinity Universe and through user-generated content initiatives. AXS is unlocked in a predetermined schedule that lasts for 65 months from the public sale. The initial circulating supply is set to 60M AXS (22.22% of the total supply) with the total supply will never exceed 270M AXS. Axie Infinity raised $864K USD in a private sale of AXS to strategic investors in the middle of 2020 for 11M AXS (4% total supply). These investors purchased AXS at a 20% discount with the first unlock during the AXS public sale and the rest unlocked quarterly over the next 2 years. Public sale was conducted using Binance Launchpad Service and raised roughly $3M USD on November 3rd 2020 for the sale of 30M AXS (11% total supply) at $0.10 per AXS. Of the remaining supply 7% is allocated to advisors, 21% to the Core Team, 8% for the Ecosystem Fund, 29% for Staking Rewards starting in Q1-Q2 2021, and 20% for Play to Earn rewards also starting in Q1-Q2 2021. Funds raised from the private and public sale will be allocated for 85% development, 10% administrative, and 5% for business development & marketing. While the AXS token is currently used only to play games and conduct payments. Future plans for players to stake their AXS to earn weekly rewards and take part in governance votes is scheduled for release in early 2021.

The Founders

Developing Axie Infinity is the team at Sky Mavis. With the teams main focus on building products that allow anyone to truly own their digital identity and game assets. This is further exemplified by locking up the majority of the teams allocation, aligning their incentives with both the community and investors. Leading the team is CEO Trung Nguyen, COO Aleksander Leonard Larsen, CTO Viet Anh Ho, Art Director Tu Doan, Growth Lead Jeffrey Zirlin, Product Engineer/Frontend Lead Quy Dau, Motion Engineer/Art Lead Duy Trinh, with Engineers Duc Tho Tran, Hien Nguyen, Quang Truong, Phuong Nguyen and Phước-Thành Đỗ. In advisory roles to serve the ongoing development is Delphi Digital, Eddie Lee from Blackwing Intelligence, and Borget Sebastien the Co-Founder & COO of The Sandbox. Financial partnerships have been provided by Animoca Brands, Pangea Blockchain Fund, ConsenSys Ventures, #Hashed, and 500 Startups. Sky Mavis is also seeking to hire many new roles onto the Axie Infinity team.

Market Impacts

Seeing AXS immediately listed on Binance following its public sale the token has continued to go nowhere but up. Initial listing saw the price movement start around $0.125 USD and jump to $0.40 USD its first week. Now completing its second week to market the token has been floating around the $0.60 USD range. With daily volume exceeding its $30M USD market cap more than a few times this week, with AXS not showing any signs of slowing down. But, not the AXS token price alone, all game assets have continued to climb as more players log in and begin playing. Social media presence is very strong with the project boasting a 20K Twitter following, 3k Telegram Group, and a very active Discord Channel. The team has remained open and engaging with the community throughout the process.


No initial concerns were to be found while researching Axie Infinity. Token metrics are fair, the team is supportive of its community, and reception of the game in the space has been internationally phenomenal.


Generally this is where I tend to “wrap it up”. But, given the opportunity available I’d like to try something a little different and give you a basic earning tutorial to get you started and take advantage of this growing ecosystem. One where users are earning an average of $200 USD a week playing Axie Infinity.

To begin you’ll need at least $70 USD in ETH to buy your first 3 Axie and begin playing. With the average Axie costing between $20 and $23 USD this is the lowest point of entry for earning SLP (Small Love Potions) and leveling your Axie’s. With future payouts in Q1/Q2 2021 to also be in AXS, this is only the beginning for potential earnings. Season 13 is now in full swing and players can earn AAVE from a sponsored reward pool right now as well.

To buy your first 3 Axie you’ll need to have a MetaMask wallet already set up. Once that’s completed head to account set up and click the “sign up with Metamask” button. After signing the signature request, you’ll be prompted to input an email address and password. If you manage to associate your MetaMask wallet before the account set up then no worries, this verification process will just be reversed. Once you set up an email and password you’ll need to verify your account with an email sent to the associated address (make sure to check your spam) and choose your username. Next you’ll want to head over to the Marketplace. I’ve optimized this link to be a zero for breed selection and lowest price on purpose. You’ll want to form a team of 1 attacker and 2 defenders to start. Your attacker should have one attack card with an ability above 100 like (Revenge Arrow Card or Nut Crack + Hare Dagger Card). Defenders (Tanks) should also have one defense ability card above 100 like (Shelter Card or Slippery Shield). I highly suggest you check out this video for a very detailed guide on picking the best Axie by community member Zeezee. Now that you’ve created an account and purchased your Axie’s you’re going to want to download the Community Alpha to begin playing. To do this on your phone, you can bind it by signing in with your email and MetaMask address, and then install it on your mobile phone. The email address will bind the account so that you don’t need to interact with Metamask on your phone. The process is now more seamless through the use of QR code. Choose the (Show QR) option in the Dashboard and take a picture with your phone to upload into the mobile game. The great thing about Axie Infinity is that you do not need to use a dapp browser on mobile to play it. Instead you install the game as a standalone apk app.

Be sure to sync Axie’s in the (My Axies) menu if you don’t see your purchased Axie. Once you’re ready you can choose either Adventure (PvE) or Arena (PvP). Adventure is where you’ll want to start. Starting out you’ll want to stay away from Arena for now because it’ll be very tough for you to win those fights this early. When you go into adventure mode you’ll be fighting monsters to earn SLP. In this mode the max amount you can earn per fight is 20 SLP capped at 100 SLP per day. So expect a slow start building up your Axie for the first few weeks. Be sure to position your defenders in the front and your attacker in the back to make the best of what they have to offer. Once you’ve spent enough time in Adventure Mode you can move onto the Arena Mode where you can earn an unlimited amount of SLP per day, with 7 SLP max per fight. But unlike Adventure mode, you do not level up your Axie in Arena Mode. It’s only to fight for victory and win SLP. Once you’ve mastered the attack and defense (tank) Axie’s you can begin building support and finisher Axie’s to master the Arena.

By playing Adventure Mode a few hours a day for an average of two weeks, the majority of players claim they earn back double their initial Axie purchase. With increased earnings weekly when ventured into more detailed subjects like ultimate breeding guides, understanding the battle system, and Ethereum Gaming Axie Infinity Guide. One of 19 “triple mystic” Axie’s in existence was already sold for $130K USD (300 ETH) and now re-listed for a whopping 666 ETH. Meaning there’s lots of financial opportunity here, even for new players.

Until next time, remember that the only guarantee is BTC. So keep stacking that Satoshi.

-Jesse Koz


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