Explained: What is Axie Infinity Game & AXS token?
Earning money while playing games? Sounds familiar. But earning money while playing a “NFT based game” is surely something not everyone is accustomed to. But it’s possible now, with the Pokemon inspired Axie Infinity Game. It’s not your usual pay to win kind of game, it is a play-to-win game. And it is surely one of a kind that has gained humongous popularity and acceptance among the masses.
So, now you can work, invest in crypto and also earn while you do nothing but play. Playing has never been made so fun and exciting until now. So let’s hop on to understand a lot more about the new video game that is taking the gaming sector by storm.
What is Axie Infinity ?
Axie Infinity is a video game that involves fighting battles and winning games by fighting against other Pokemon-like monsters in order to earn Ethereum based crypto in the form of Axie Infinity Shards (AXS). it is a blockchain based trading and battling game that is partially owned and operated by the players. The game contains of creatures called “Axies”. These creatures love to battle, build and hunt for treasure. The game is mostly run and owned by the players.
The game is created by a Vietnamese studio called Sky Mavis. Axie has over 2,50,000 users currently playing and winning ETH rewards. The X-factor of Axie Infinity Game is it’s cryptocurrency nature. Each Axie in the game is a NFT (Non Fungible Token) which has its own market value and is priced based on its skills, breed and aesthetic character. These NFT’s are digital assets as well, which makes AXIE a Crypto based on NFT and running on Ethereum.
How does Axie Infinity work?
Basically, Axie Infinity is a venturesome game that has numerous stages of plot and strategic sport. Adding to just playing games, Axie also allows its users to earn while playing. Gamers and analysts have related the working of the game with that of Pokemon, considering that the user has to their pet, i.e. Axies which have special power and skills to perform well in the game.
In order to start playing the NFT-based game, the user needs to have a team consisting of 3 Axies. The Axie pet, which is empowered with skills, can cost anywhere between 0.1 ETH ($260.49 USD) to 0.2 ETH ($520.98 USD). These Axies form the base of your entire game. One cannot get started without these.
The gamers have the option to level up or upgrade the skills of their axies through the Adventure mode. It requires the users to climb ladders, face challenges and go through different levels. With each completed level, the axies skills will be updated and the levels will start getting complex.
The Axie owners can also test their Axies ability by going through the Arena mode where all the gamers can battle with different users of the same platform and hence check their ability to survive or win the game. Each win in the Arena mode will improve the users matchmaking rating, and earn them a reward of SLP (Smooth Love Portion).
These Axies can take different forms as there are more than 500 different body parts available, including aquatic, beast, bird, bug, plant and reptile parts. Axies can have any combination of body parts, making them highly variable and often rare and unique.
What is AXS token?
Axie Infinity Shards (AXS) are the basic tokens of the Axie Infinity platform. These are the ERC-20 governance tokens for the Axie universe which acts as a glue to bind all the community members together. The players can earn $AXS when they play various games with the Axie Infinity universe and through user generated content initiatives.
Axie Infinity (AXS) tokens have a total supply of 270 million tokens. Out of this, around 53.5 million tokens were in circulation as of mid-November 2020. In total, 11% of the total supply was allocated to participants in the Binance Launchpad IEO sale and 4% was sold in a private sale. In addition to this, 29% is allocated for staking rewards, 20% to the player to earn pool, 21% to the team, 7% to advisors and 8% to the ecosystem fund.
Staking AXS will soon be live on the platform. This staking will act as an incentive for AXS holders. The staking will support the Axie ecosystem.
Axie Infinity Team: Who built the Axie Game?
Axie Infinity is currently rated as one of the best and biggest blockchain based NFT gaming sectors. The hype around this new crypto-based gaming sector has left some users baffled about its origin.
Axie Infinity is built by a well-known company, Sky Mavis. Sky Mavis is a technology-focused game developer with a team primarily based in Vietnam. Axie Infinity was co-founded by Trung Nguyen and Aleksander Larsen. Trung Nguyen is the current CEO of the gaming platform who holds a BS degree in computer software engineering and has previously worked as a software engineer at Anduin Transactions.
Aleksander Larsen is the COO of Axie Infinity. He’s been working on Blockchain gaming since 2017 and worked as the executive security officer for the Norwegian Government Security Organization prior to co-founding Axie. he still works as The Secretary of the Board of Directors at the Blockchain Game Alliance.
Axie Infinity has 40 employees in total and all of them are extensively experienced in the field. Tu Doan runs the art team in Vietnam and designed the original Axies. Andy Ho, the CTO of Axie Infinity leads the engineering team and is responsible for the technical strategy. Jeffrey Zirlin is responsible for growth and development.
Is Axie Infinity Secured and a safe game to play?
The new NFT-BASED gaming platform has been constantly questioned about its legitimacy, security and safety.
The AXS tokens are based on the Ethereum blockchain. The ERC-20 is hence secured by Ethereum’s Proof-of-work consensus.Sky Mavis is currently creating Ronin, an Ethereum-linked sidechain made specifically for Axie Infinity. It is designed to support almost instant transaction confirmations, reduced gas fees and be capable of helping Axie Infinity scale.
Axie is ranked the #1 Ethereum game by daily, weekly, and monthly active users. It is a game that partners with huge technology companies such as Samsung, Ubisoft, HTC, Binance, Kyber network, Maker and Klayton. The partnership of Axie with such legit companies proves that it is not a scam.
AXS can only be traded on Binance, the world’s largest cryptocurrency exchange platform. It is listed with four trading pairs: AXS/USDT, AXS/BTC, AXS/BUSD and AXS/BNB.
Where to buy AXS token?
Mentioned below are some of the crypto exchanges where you can buy AXS token from.
|Buy AXS||Sign Up||Exchange
|Binance||Sign Up Here||Read our Review|
|FTX||Sign Up Here||Read our Review|
|Huobi||Sign Up Here||Read our Review|
|Kucoin||Sign Up Here||Read our Review|
Is AXS worth Investing?
Axie is surely one of a kind and it is predicted to be profitable. But, it completely depends on the player and the involvement of the gamer on the platform. The AXS token is surely every crypto analyst’s favourite. But the volatility of the token depends on the ability of the player to complete his/her daily quest.
The amount of AXS token which can be earned is based on the amount of tasks the gamer engages in or the wins they are able to accumulate during the game. The token has seen a huge growth in the past one year. The prices have risen from $4.72 in May to $53.28 in July, and currently trading at 39 USD. That is surely some promising return.
Caution: AXS Token has already reached top 40 in the marketcap. The token could carry on doing well from here, however, I am not expecting that to happen. I am expecting some profit booking to happen, which should bring some correction. Once the coin falls below 20 USD, I might think of taking some position in AXS during a trend reversal. I am staying away from AXS token personally. But, I like the game. So, if you want to idly sit and play, do it with Axie and earn rewards in return.
Disclaimer: Please know AXS token is volatile in nature. Please DYOR before investing.