TL;DR
- Ronin makes the Axie pay-to-earn (p2E) game and economy, fast, and cheap
- Axie Infinity team developed the Ronin Chain
- Developers can access best-in-class data to build dApps faster
- Covalent is the only company that has indexed the Ronin chain and is able to provide unique deep data analytics that will help blockchain game publishers make important changes to improve the experience for gamers
- Covalent’s dataset supports 25B+ transactions, 30,000+ price feeds, and 200,000+ smart contracts for querying
We’re excited to announce that the Ronin Chain has integrated with Covalent, allowing developers way more velocity to access best-in-class data to build dApps. With our comprehensive indexing and query system, developers get more speed and less overhead so they can start building within a few clicks.
Ronin, an Ethereum-linked sidechain, was created specifically for Axie Infinity, one of the world’s most popular play-to-earn NFT-based online video games in the blockchain space. The game’s explosive growth caused challenges with network congestion, which is why the team that created Axie Infinity developed the Ronin chain. Ronin provides a long term solution to make the Axie game and economy fast, cheap, and seamless.
Key features of the Ronin chain:
- Drastically reduced gas fees
- Simplified onboarding for new users through a customized wallet solution
- A block explorer for transparency and data accessibility
Axie Infinity’s Revolutionary Play-to-Earn Model and Changing Lives
Axie Infinity was created by the game developer Sky Mavis in 2018, during the bear market, and experienced explosive growth as they revolutionized the gaming industry with their play-to-earn model. At the date of this post, Axie Infinity is the most popular blockchain game with over 1 million daily active players.
People can earn money with Axie Infinity in the following ways:
- Sell an in-game item called Smooth Love Potions (SLP): Players can farm and sell an in-game item called Smooth Love Potions, one of the required elements to breed creatures called Axies. SLPs can be farmed by battling monsters, fighting other players, and completing daily missions as well as quests.
- Breeding and selling rare Axies: The game allows you to breed any two Axies to create offspring. If you manage to breed a good Axie with unique and superior features, it can be sold on the market for a good price. One Axie named Angel sold for $130,000 USD in 2020.
- Staking through the Axie Infinity Scholarship: A scholarship in Axie Infinity is when a manager/breeder gives out a free Axie team to a scholar. The scholar will then play the game using these Axies to earn Smooth Love Potions on behalf of the manager while taking a cut from the earnings.
If you’re not familiar with the game, not all Axies are created equal. Most Axies are very weak, but a select few are strong and these are the most sought after. Each Axie can only be bred a limited number of times, which creates scarcity. People also earn money buying and selling Axies on the marketplace.
In some countries, including Ghana and the Philippines, Axie Infinity players are able to earn a steady income stream through the game. In many cases, players can earn higher than several times the minimum wage in their country.
Deep Dive Data Analytics Provided Exclusively by Covalent
Ronin’s integration has enabled Covalent to extract granular and programmable data on the blockchain. Developers are able to access rich data with our unified API with just a few clicks on the browser.
Covalent is the only company that has indexed the Ronin chain and we are able to draw out deep insights and analytics. Follow us on social media for announcements on detailed data and reports on Axie Infinity’s performance and user behaviour that you won’t find anywhere else.
“We are able to provide unique insights that will help blockchain game publishers like SkyMavis make important changes to improve the experience for gamers, this helps the game publisher and the player. Our data and analytics aren’t available anywhere else and fundamental to shaping web3 gaming projects. This is crucially important for the metaverse where blockchain technology will undoubtedly play a pivotal role,” says Ganesh Swami, CEO of Covalent.
Covalent provides a unified API to bring full transparency and visibility to assets across all blockchain networks. Its dataset supports 25B+ transactions, 30,000+ price feeds, and 200,000+ smart contracts for querying.
Community Consensus through Governance
A community member submitted a governance proposal to index Ronin on our governance forum a few weeks ago. He believes the API endpoints will enable data extraction and be of great use for the upcoming Axie: Land feature, Ronin DEX, and a forthcoming SkyMavis game.
The proposal since then has received confirmed support on our community channels, with thousands of members from both the ecosystems engaging. And just yesterday, the proposal passed a Snapshot vote with over 1.31M votes in CQT tokens in favor of Covalent indexing the Ronin Chain.
About Covalent
Covalent leverages big-data technologies to create meaning from hundreds of billions of data points, delivering actionable insights to investors and allowing developers to allocate resources to higher-utility goals within their organization. Instead of pain-stakingly sourcing data from a small handful of chains, Covalent aggregates information from across dozens of sources including nodes, chains and data feeds.
Covalent’s unified API then sources end users with individualized data by wallet, including current and historical investment performance across all types of digital assets. Most importantly, Covalent returns this data in a rapid and consistent manner, incorporating all relevant data within one API interface.
About Axie Infinity
Axie Infinity is a universe where anyone can earn tokens through skilled gameplay and contributions to the ecosystem. Players can battle, collect, raise, and build a land-based kingdom for their pets.
All art assets and Axie genetic data can be easily accessed by 3rd parties, allowing community developers to build their own tools and experiences in the Axie Infinity universe.
Although Axie is still in early access, Axie is ranked the #1 Ethereum game by daily, weekly, and monthly active users. It has generated over 6,400 ETH in revenue (1.1B+ USD) so far.