Axie Infinity (AXS) Live Price

What Is Axie Infinity (AXS)?

Axie Infinity is a crypto chain-based strategy game run to some extent by its players. Based on player favourites like Pokémon and Tamagotchi, players on Axie Infinity can gather, breed, fight and exchange token-based creations called Axies.

Axies can be in various lifeforms (there are over 500 different body parts to pick from). Creatures can be from different animal groups, and their parts have different rarity levels, starting from common, rare, ultra-rare and legendary.  Body parts can be mixed to make up rare creations with unique characteristics.

All Axies are NFTs and can be used in battles to earn experience points. These points help players achieve better stats and improve their Axie’s prowess.

The Axie Infinity ecosystem runs its governance token, called Axie Infinity Shards (AXS). AXS is used in governance issues and offers its holders a say in Axie Community Treasury spending.

AXS Price

AXS price has fluctuated at times when the creators have announced new token drops and releases. Peak prices occurred in the summer of 2021 and October of the same year. The team introduced a staking option to support users in earning yield and voting rights.

The peak price for the AXS was in in 06.11.2021, when it touched Nov 6, 2021.

The total supply is set at $ 270,000,000. Player reward are 20% of this, while staking rewards get 29%.  Game creators will get a 20% location over a period of years. 

A Brief History of Axie Infinity

Vietnam-based developer Sky Mavis released Axie Infinity in 2018. The game is popular and will have around 1 million daily players by August 2021. This made Axie Infinity the largest gaming crypto app on the Ethereum blockchain.

Players can earn AXS by participating in user-generated content initiatives or playing games on the Axie Infinity world. Players can get rewarded for casting governance votes or staking AXS,

In January 2022, Sky Mavis started a new Axie Infinity feature that lets existing token holders burn their NFTs.

How AXS works

AXS is an Ethereum-compatible blockchain designed to be an open-ended digital pet universe. Players earn tokens from the game and spend them to earn in-game assets. 

The game involves breeding and fighting with pets called “axies,” which are non-fungible tokens (NFTs). These activities require payment through AXS and an in-game blockchain token known as smooth love potions (SLP), that is tradable with fiat currency.

What Makes Axie Infinity Unique?

Every Axie on the platform has six body parts selected from many different potential body parts. Every body part has a signature skill. This creates multiple combinations in Axies. The ones that have the strongest combo of body parts can have incredible performance.

Axie Infinity has a breeding center to aid its users to breed their Axie with the best option to create a rare or legendary pet. Charges are 0.005 ETH and some Small Love Potion (SLP) tokens to do this.

How the Axie Infinity Network is Secured?

The AXS token runs as an ERC-20 token on Ethereum blockchain, which gives it the security provided by Ethereum’s POW consensus mechanism.

Axie Infinity migrated its NFT tokens from the Loom Network to a custom-built sidechain on Ethereum called Ronin in early 2021. 

Ronin is an application-specific sidechain designed by Sky Mavis and primarily used by the Axie game. The chain is built to offer immediate transaction confirmation, lower gas fees and support Axie Infinity to scale to its full potential.

Where Can You Buy Axie Infinity (AXS)?

AXS can be traded on many exchange platforms, like Binance, Huobi Global, Coinbase, and Kraken.

The relationship between Axie Infinity and Smooth Love Potion has led to multiple trading combinations being possible. The most demand is in the Philippines.