Axie Infinity (AXS)

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Gaming and Play-to-Earn

Axie Infinity lets players collect, breed, and battle creatures called Axies. Players can earn tokens by playing, which can be used in the game or traded.

Breeding and NFTs

Tokens are used to breed new Axies, which are unique digital pets represented as NFTs. Each Axie has different traits and can be traded or used in battles.

Governance and Staking

The Axie Infinity Shard (AXS) token allows holders to participate in voting on game decisions and stake tokens to earn rewards.

In-Game Purchases and Economy

Tokens can be used to buy in-game items, upgrade Axies, and participate in events or competitions within the Axie Infinity ecosystem.

Pros

• Axie Infinity offers a fun play-to-earn game where players can collect, breed, and battle digital pets called Axies.
• It has a player-owned economy, allowing users to buy, sell, and trade Axies and in-game resources as NFTs.
• The game uses blockchain technology and smart contracts, providing transparency and true ownership of digital assets.
• Axie Infinity has a strong community and backing from notable companies like Ubisoft and Samsung.
• The Ronin sidechain reduces transaction fees compared to Ethereum mainnet, making gameplay smoother.
• The token (AXS) has shown potential for steady growth and is popular among NFT games.

Cons

• The initial cost to start playing can be high because you need to buy Axies to participate.
• Some players feel the gameplay can be repetitive and that leveling up doesn’t always give a big advantage.
• Updates have sometimes made older Axies less useful, requiring players to buy new ones.
• The game’s economy and token price can be volatile, influenced by market trends.
• Energy consumption related to blockchain technology is a concern for some.
• Some users report that the game favors players with better cards or connections, making competition uneven.

Founders of Axie Infinity

• Nguyen Thanh Trung (also known as Trung Nguyen) is the CEO and one of the main founders.
• Aleksander Leonard Larsen is a co-founder involved from the early stages.
• Jeffrey Zirlin (also called Jeff "The Jiho" Zirlin) is another co-founder.
• Tu Doan and Andy Ho are also listed as co-founders who helped develop the project.

The team started Axie Infinity in 2017-2018 under the company Sky Mavis.

Institutional Investors

Axie Infinity has 22 institutional investors including well-known names like Liberty Global, Samsung NEXT, and CMT Digital.

Venture Capital Firms

Major venture capital firms that invested in Axie Infinity's developer, Sky Mavis, include Andreessen Horowitz, Accel, Paradigm, Standard Crypto, and Fabric Ventures.

Notable Individual Investors

Billionaire investor Mark Cuban is among the backers, along with other investors like Blocktower Capital, Konvoy Ventures, Libertus, and Collab + Currency.

Funding Highlights

Sky Mavis raised $152 million in a Series B funding round with participation from FTX and other crypto-focused investors. Earlier rounds included $7.5 million raised with support from various venture capitalists and individual investors.

For more details, visit the official project website or funding profiles on platforms like Crunchbase and Tracxn.

Halal Status of Axie Infinity

Yes, Axie Infinity is considered halal by most scholars. This is because it is a skill-based game, not a game of chance or gambling. The game’s content and tokens like AXS and SLP do not conflict with Islamic principles. However, some scholars do not encourage it as a primary source of income.

Reasoning

• The game requires strategy and effort, not luck.
• There are no prize fees or gambling elements.
• The tokens are viewed as halal cryptocurrencies.
• Playing or earning through scholarships is permissible if it does not involve anything haram.