Axie Infinity is a blockchain-based gaming platform that allows players to collect, breed, and battle digital creatures called Axies. These creatures are unique, non-fungible tokens (NFTs) that are stored on the Ethereum blockchain. Players can use their Axies to compete in battles against other players, earn rewards, and even breed new Axies. The game is powered by the AXS token, which is used for in-game transactions and governance. Axie Infinity has gained popularity and significant value in the cryptocurrency market due to its play-to-earn aspect, where players can earn real-world rewards in the form of cryptocurrency for playing the game.