The evolution of Axie Infinity

From the 2018 launch to the 2021 boom

Sky Mavis launched Axie Infinity in 2018 as a blockchain-based game using the Ronin sidechain to manage transactions. Players collect, breed, and battle digital creatures called Axies which use non-fungible tokens to verify ownership on the blockchain. Each creature has six body parts: eyes, ears, mouth, horn, back, and tail. Axies belong to one of nine classes, such as Aquatic, Beast, Bird, Bug, Plant, Reptile, Dawn, Dusk, or Mech. Aquatic Axies deal bonus damage against Beast types but take extra damage from Reptiles. Players use turn-based card mechanics to fight in teams of three. Players breed two Axies to produce offspring with combined dominant and recessive genes, and each Axie can breed a maximum of seven times. In 2021, the play-to-earn model drew millions of players. Players in the Philippines used the game to supplement their income during the pandemic. The game reached 2.7 million daily active users in November 2021 and processed over $4 billion in marketplace volume. The ecosystem grew to include 2.8 million unique addresses and 11.1 million Axies, while managers and scholars used the scholarship system to enter the game without upfront investment. The game includes a marketplace where users trade assets. AXS is the governance token, while SLP is the utility token.

The Ronin exploit and economic shift

The Ronin network suffered its biggest breach in March 2022 when the Lazarus Group stole $625.5 million. The attackers gained access to five validator signatures, including four Sky Mavis nodes and one belonging to the Axie DAO, which allowed them to forge fake withdrawals and steal 173,600 ETH and 25.5 million USDC in two transactions. This exploit exceeded the $450 million Mt.Gox hack of 2014. The theft was discovered six days later when a user tried to withdraw 5,000 ETH and failed. Sky Mavis raised $150 million led by Binance to reimburse every affected user. The network expanded the validator set from 9 to 21 nodes to prevent future attacks. The income model effectively collapsed as token values plummeted. AXS fell from $155 in 2021 to $2.50 in early 2026. SLP dropped from $0.36 in mid-2021 to $0.0009 in early 2026.

The 2026 landscape of Origins and Classic

The game includes three primary modes: Origins, Classic, and Homeland. Sky Mavis announced the sunset of Homeland in June 2026 to introduce the Terrariums system. Origins provides free starter Axies for new users. The reward structure changed when SLP emissions in Origins ranked mode stopped on January 7, 2026. Top tournament competitors in Origins still vie for AXS prize pools, with rewards reaching 24,000+ AXS per era. One recent season offered a 16,000 AXS prize pool for the Mystic Era. Casual players in 2026 earn between $0.10 and $0.29 per day from SLP. Players use a Stage 2 evolution system to upgrade over 250 distinct Axie parts. This process requires specific materials and AXS fees, and the first evolution costs 100 materials. The level cap is 60, and players use Radiant Spirit Shells for certain tasks, although a standard evolution takes 36 hours unless players pay 200% extra in materials. You should treat the game as a hobby rather than an income source. The game is a competitive card battler rather than a reliable way to earn money. Sky Mavis develops Atia’s Legacy, an MMO that completed playtests in 2026. Will Atia’s Legacy sustain the ecosystem?