What is Axie Infinity? (AXS)

The Beginner’s Guide

In the Axie Infinity ecosystem, game characters are called Axies. These are unique tokens (NFT) that you own and manage. You can hold NFTs in your personal wallet, transfer them to other Ethereum addresses, or trade them with other players using a blockchain-based marketplace. Apart from Axies, the game also includes virtual lands and items in the form of ERC-721 tokens.

Within the ecosystem, players can form teams and groups in Adventure mode (PvE versus player environment) to fight monsters in the Axie Infinity kingdom, Lunacia. Players can also fight other Axie trainers by selecting the Arena mode (PvP – player versus player). If you win, you earn from the entity called Small Love Potion (SLP), which was used to produce Axies. SLP is also an ERC-20 token and can be traded on exchanges such as Binance.

Due to the high Axie price and the gas fees on Ethereum, it has become difficult for new players to enter the game. Gas is required to produce axies, which may require large amounts of ether. Ronin Ethereum side chain, developed especially for Axie Infinity, is aimed to eliminate this problem.

Brief Summary

We are in 2021, which means you can now make money by producing virtual animals.

To understand Axie Infinity, you can imagine a blockchain game combining Pokémon and CryptoKitties. Axie Infinity is an NFT game and ecosystem built on the Ethereum blockchain. The local currency is an ERC-20 token called AXS.

How Does Axie Infinity Work?

Following the concept pioneered by CryptoKitties, Axie Infinity is an Ethereum-based collectible game that has been growing since 2018. Developed by Vietnam-based startup Sky Mavis, the game started out as an ambitious project and became a popular Ethereum game.

The token of the Axie Infinity ecosystem is the AXS. AXS is an ERC-20 governance token released in November 2020. AXS tokens can be purchased, traded or earned by playing the game.

Other tokens for AXS include game assets in the form of ERC-721 tokens (for example your Axie characters) and Small Love Potion (SLP), an ERC-20 token.

What is Axie Infinity Shard (AXS)?

The AXS coin (Axie Infinity Shard) is relatively new in the AXS world – launched in November 2020. AXS holders will be able to use their tokens for staking, earn AXS by voting and playing games. These rewards come from the Community Treasure, which is populated with in-game purchases. However, as of January 2021, these Community Treasure and staking features are not yet available.

AXS total supply will be 270,000,000. Some tokens are reserved for public sale, some for play-earning features, and some tokens for Sky Mavis and the project’s advisors. The initial offering for public sale is just under 60 million. The number of tokens in circulation is expected to increase annually until 2026.

AXS Usage Areas

Axie Infinity; It aims to be a mature game that connects players, has a strong community and a vibrant ecosystem. AXS offers a fun gaming experience that will immerse Pokémon or Final Fantasy lovers.

As of February 2021, there are more than 27,000 AXS players. If the game can acquire an even larger user base, it will undoubtedly add more value to the ecosystem. As we mentioned earlier, a free game version, as well as the Ronin side chain, is available to encourage further growth.

Players can earn both AXS and SLP tokens in a variety of ways by playing Axie Infinity. These tokens can then be converted to other cryptocurrencies. It is already possible to find players making money by playing AXS.

Final Thoughts

The future of the AXS token depends on the playability and popularity of the Axie Infinity game. Game; It offers a fun experience, has been developed in detail and has great growth potential. AXS has proven itself over the past two years and will include new features that will encourage more players to join the ecosystem.

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Note: The information, comments and evaluations contained here are NOT in the Scope of Investment Consultancy. Keep following the SinceCoin.

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