Axie Infinity is a monster battle game in which teams of cute monsters called Axies face each other.
The game runs on the Ethereum blockchain with the help of Ronin, a sidechain that helps minimize fees and transaction delays. It focuses primarily on turn-based battles, either against computer-controlled Axie teams or live opponents via the Internet.
Game objects are represented by NFTs, or non-fungible tokens. These unique, cryptographic tokens can be linked to digital content-in the case of Axie Infinity, the aces and terrains that populate the game. Unlike conventional game items, the NFT confers ownership on the buyer; it is possible to trade Axies on the game market for real money.
You can also breed Axies, which allows you to build potentially more powerful teams and obtain additional NFTs to sell on the market. Some Axie NFTs have been sold for 300 ETH each, or more than $600,000 at the time of writing.