The collaboration between Axie Infinity and the Loom Network has many benefits. Best of these advantages is Loom's Layer 2 scaling solution, which will enable the Axie Infinity team to scale their game and solve many of the problems that come with the Ethereum blockchain.
On Technical Details
Per the Axie & Loom agreement, Axie Infinity will act as a Loom validator (stakeholder). In the blockchain technology, validators ensure that all transactions are valid and correct.
Because the Loom Network has fewer validators than Bitcoin or Ethereum blockchain it takes less time for stakeholders to reach a consensus. This, in turn, allows DApps on Loom to run and operate on a faster pace. And since the Axie team plans on running their game on Loom, it makes sense for them to be one of Loom’s validators in order to ensure that that their sidechain runs securely and smoothly.
What Are the Benefits?
This partnership gave birth to something new in the DGaming industry; the combination of gaming and staking. So what does that mean?
Axie will purchase and lock in a certain amount of LOOM tokens, and effectively become Loom stakeholder. Furthermore, the two have reached an agreement through which users will be able to swap LUNAs (Axie's native tokens) for LOOMs (Loom’s native tokens).
Thanks to this LUNA-for-LOOM possibility, Axie Infinity will be able to reward validators and gamers alike, through validating and gaming incentives. For example, Axie will be able to send validator rewards straight into their Land resource nodes. It'll also be possible to buyback LUNA tokens through validator rewards, or supplement the rewards with LUNA.
What Does This Mean for the Players?
Axie Infinity is cementing themselves in the Play to Earn (P2E) gaming module. Axie is yet to announce the date of staking with Axie, which will enable the Axie community members to become stakeholders and earn profits from playing the game and engaging with the community.
Effectively, your assets will no longer be showing up on Etherscan but will instead show up on Loom's PlasmaChain block explorer. Certain Axie's assets, like Land and items, are already on PlasmaChain, and Axies should join them there by the end of this month. The marketplace will also move to PlasmaChain. Everything will be the same in terms of value and pricing, the only difference being that you'll no longer have to pay gas fees while trading.
In short, this partnership will not only enable Axie Infinity to deliver smoother gaming experience but will also allow them to create more incentives for the players through staking and gaming processes. Staking with Axie should arrive by the end of this month, so be sure to keep an eye on Axie's official blog to know the exact date. You may also subscribe to Axie's newsletter and be instantly notified.
To play Axie Infinity, be sure to check out our DGaming store. Axie Infinity is one of the most successful DGames in the industry, with a growing community and talented team that are continually looking for new ways to deliver top gaming experience.