Axie Infinity Plans to Launch Decentralized Exchange

October 3, 2021

Appearing in Frank Chaparro’s The Scoop podcast, co-founder of Sky Mavis, the team behind popular NFT game Axie Infinity, Jeff ‘Jiho’ Zirlin, said that they are planning to launch a decentralized exchange. During the show, the two spoke about Axie Infinity’s success story and the idea behind the game. Zirlin said:

“The broad idea behind Axie is to introduce the world to a kind of scary and fun, exciting new technology, blockchain through something that’s relatable and nostalgic. So Axie’s are similar to Pokemon or Tamagotchi, these things we grew up with, you can battle them, collect them, you can breed them. Also even play games with them to earn cryptocurrencies with real value.”

Axie Infinity’s popularity has surged in the past month with sales growing exponentially in the last few months. The Ethereum-powered game, hugely popular in The Philippines, has seen $2.27 billion in all-time sales done between 687,495 traders. With NFTs providing the in-game experience, Axie Infinity offers two native token assets. Axie Infinity token asset(AXS) has gone over 50% in the last months. Axie’s other native token, Smooth  Love Potion (SLP), is almost up 100%.

Zirlin brought up their plans of building their own decentralized exchange and pointed that the project would build on its large and established user base.

Axie Infinity’s dex will facilitate trading of their native tokens like AXS and SLP. As Zirlin said during the podcast, it is their intention to, firstly, make it easier for its users to acquire or swap tokens, by removing the need for them to leverage a cross-chain bridge.

Other dex platforms like Uniswap, Pancakeswap, Sushiswap, are used for billions of dollars worth of crypto swaps on a regular basis. There is obviously a clear use case and demand for such services, as well as a financial incentive. Zirlin did not confirm (or deny) if their decentralized exchange would support liquidity pools.

The Axie Infinity founder also expressed his optimism about future “hyper-social” game concepts utilizing blockchain and NFTs

“Web3 is turning communities into economies, and what are the games that would do really well with these digitally native economies? I think games that are very social, or hyper-social — Not every game, like a single-player game might not need a blockchain game or NFT game. More like community-driven really social games.”

Meanwhile, blockhain based online gaming is rising. A month ago, crypto role-playing game MIR4, with its own native token DRACO, launched in over 170 countries. The game became an immediate success, topping Steam’s chart of games most downloaded.

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Author: Peter Siu

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