What is Axie Infinity (AXS)?
Take a closer look and learn all about Axie Infinity (AXS), and how it's revolutionising the NFT gaming space.
Blockchain technology has created a new wave of gaming, where players can earn cryptocurrency while playing games.
One of the most popular blockchain-based games is Axie Infinity, which has revolutionized the world of gaming with its play-to-earn model and engaging gameplay.
- Axie Infinity pioneered the idea of combining the world of crypto with online gaming.
- Just like Pokemon, players in Axie Infinity collect Axies as virtual pets that they can raise, battle, and breed.
- Axie Infinity is regarded as one of the leaders in NFT gaming. Each in-game Axie is represented by NFTs that have unique identities, stats, rarity, and ownership history.
- AXS (Axie Infinity Shards) are the native cryptocurrency for the Axie universe based on the ERC-20 token, and are used for governance in the ecosystem.
What is Axie Infinity?
Axie Infinity is a blockchain-based game that has taken the world by storm when it launched back in 2017.
Developed by Vietnamese studio Sky Mavis, the Pokemon-inspired game allows players to play, earn, and trade unique digital creatures known as Axies.
It is an NFT game that is based on the Ethereum blockchain. Axies are digital assets that are registered on the blockchain, and they can be bought, sold, and traded like any other cryptocurrency.
Getting into NFTs?
The AXS token
The AXS cryptocurrency (Axie Infinity Shard) is based on the ERC-20 governance token and is used as such within the Axie ecosystem.
Holders of the AXS token can claim rewards by staking the token, playing the game, and participating in governance votes. AXS currently is supply capped at 270 million tokens.
AXS tokens are an essential component of the Axie Infinity ecosystem. They are used to purchase Axies, breed Axies, and participate in the game’s governance.
What is an ERC-20 token?
In short, these are simply tokens that are used on the Ethereum blockchain and act as assets that facilitate the various utilities and functions on the network. Learn more with our guide.
The tokens can be earned by participating in various aspects of the game, such as breeding, battling, and trading Axies.
Use Cases of the AXS token
The AXS token has many use cases within the Axie Infinity ecosystem. As mentioned above, it can be used to purchase Axies, breed Axies, and participate in the game’s governance.
Players can also stake their tokens to earn rewards such as governance rights and a share of the game’s revenue.
Moreover, AXS tokens can be traded on various cryptocurrency exchanges, making it a valuable asset in the world of cryptocurrency trading.
The AXS token has become increasingly valuable as the popularity of Axie Infinity has grown. Some players have earned thousands of dollars each month by playing the game and earning AXS tokens.
The success of the game has been so significant that some countries, such as the Philippines, have recognized it as a legitimate source of income.
The play-to-earn model is one of the most significant features of Axie Infinity. Players can earn money by participating in various aspects of the game.
Axies can be bred, battled, and traded, allowing players to earn cryptocurrency in the form of AXS tokens. Players can also earn Small Love Potions (SLP), which can be used to breed Axies or sold for cryptocurrency.
Axie Infinity has an economy that is thriving, with some players earning thousands of dollars each month.
The play-to-earn model has allowed people from all over the world to earn money, which has been a lifeline for many during the pandemic.
The game has become so popular that some countries, such as the Philippines, have even recognized it as a legitimate source of income.
Gameplay of Axie Infinity
The gameplay of Axie Infinity is what sets it apart from other blockchain-based games. Players can create, breed, and battle Axies, which are unique creatures with different abilities.
Axies can be traded on a marketplace, allowing players to buy and sell them for cryptocurrency. The game has a steep learning curve, but once players understand the mechanics, it can be incredibly engaging.
Axie Infinity has a strong community that has developed around the game. Players can join guilds to connect with other players and participate in tournaments.
The game has also become a popular streaming category on platforms such as Twitch, with players streaming their gameplay and earning money through donations and subscriptions.
The in-game Axie homeland is known as Lunacia, and is represented by tokenized plots of virtual land called Terra. These serve as the homes of the players’ (called Lunacians) Axies and will enable players to purchase, rent, and develop however they see fit.
There are also various in-game resources that players can make use to upgrade their plots of Terra, as well as their Axies.
Smooth Love Potion (SLP)
SLP is an in-game reward token that is earned by players by completing quests and battles with their Axies. Just like AXS, SLP is also based on the ERC-20 token and carries value just like any other cryptocurrency.
The value of SLP when compared to AXS or the USD indicates volatility in its price. However, for Axie Infinity players, SLP is viewed more as a way to facilitate their progress in-game and expand their gameplay.
Future of Axie Infinity
Axie Infinity has already gained a massive following, and its popularity shows no signs of slowing down. The developers are continually adding new features to the game, including new Axies and game modes.
Additionally, the developers have also announced that they plan to create an Axie Infinity universe, which will include more games and experiences beyond the current game.
The future of Axie Infinity looks bright, with the game becoming increasingly popular and the developers showing a commitment to its continued development.
Axie Infinity has the potential to become a major player in the world of blockchain-based gaming and has already made significant strides in that direction.
The game’s economy has created a new industry of players who are earning money through play-to-earn mechanics, which is a trend that is likely to continue.
Axie Infinity is a blockchain-based game that has revolutionized the world of blockchain-based games with its play-to-earn model and engaging gameplay.
The AXS token has become increasingly valuable, and the game has a thriving economy that is attracting players from all over the world. The community around the game has also grown, with players joining guilds and participating in tournaments.
How to buy Axie Infinity Shards (AXS)
If you are interested in blockchain-based games, Axie Infinity and the AXS token are definitely worth checking out.
The game’s unique gameplay, thriving economy, and community make it one of the most exciting blockchain-based games on the market.
With the developers continually adding new features, Axie Infinity has the potential to become a major player in the world of blockchain-based gaming.
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Invest in Axie Infinity Shards: Buy AXS with Easy Crypto.
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Disclaimer: Information is current as at the date of publication. This is general information only and is not intended to be advice. Crypto is volatile, carries risk and the value can go up and down. Past performance is not an indicator of future returns. Please do your own research.
Last updated March 31, 2023