Axie Infinity Shards (AXS) is the native cryptocurrency of the popular blockchain-based game Axie Infinity. Operating on the Ethereum network as an ERC-20 token, AXS serves multiple purposes within its digital ecosystem, including governance, staking, and in-game rewards. This play-to-earn model has attracted significant attention, especially in regions where it offers an alternative source of income.
The project is developed by Sky Mavis, a company founded by Trung Nguyen, who is from Vietnam. The game draws inspiration from popular titles like Pokémon, allowing players to collect, breed, and battle digital pets called Axies.
Latest AXS Token Price
As of the latest data, the price of AXS is approximately $5.98.
Please note that cryptocurrency prices are highly volatile and can change rapidly. For the most current value, it's best to check a reliable crypto market data platform.
Background and Founders
The Axie Infinity project was initiated by Trung Nguyen, a Vietnamese entrepreneur with a background in software engineering. Before diving into blockchain, Nguyen worked on a social network designed for food bloggers. His interest in blockchain-based gaming led him to establish Sky Mavis and develop Axie Infinity starting in 2017.
The game combines elements of traditional online pet games with the transparency and security of Ethereum blockchain technology.
Is AXS a Chinese Token?
No, AXS is not a Chinese cryptocurrency. The token and the Axie Infinity ecosystem are developed by Sky Mavis, a company based in Vietnam. The team is globally distributed, with contributors and players from around the world.
AXS was officially launched in November 2020. It is important to distinguish it from any other similarly named assets or projects in the crypto space.
Key Features of Axie Infinity
Axie Infinity offers a rich gameplay experience with several engaging features:
- Battles: Players can battle their Axies against others. Winning helps these digital pets gain experience and improve.
- Breeding: Axies can be bred to create new and unique offspring, which can then be used or traded.
- Land and Assets: Players can own virtual land and other assets within the game, which can be developed over time.
- Marketplace: A decentralized marketplace allows players to buy, sell, or trade their Axies and other in-game items securely using blockchain.
Tokenomics and Distribution
The total maximum supply of AXS is set at 270,000,000 tokens. The distribution includes:
- A portion for public sale.
- Allocations for play-to-earn rewards to incentivize gamers.
- Shares for the development team, company, and advisors.
The initial circulating supply at launch was under 60 million tokens. The release of additional tokens is scheduled gradually, with full distribution expected by 2026.
Use Cases for AXS Token
AXS isn’t just a in-game currency; it plays several roles:
- Governance: AXS holders can participate in voting on key decisions about the game’s future.
- Staking: Users can stake their AXS to earn rewards from the community treasury.
- In-Game Utility: AXS is used for various transactions within the Axie Infinity universe.
Please note that some features, like staking, were not activated immediately at launch but were introduced as the ecosystem developed.
👉 Check real-time AXS token metrics
Frequently Asked Questions
What is AXS used for?
AXS is primarily used within the Axie Infinity game for governance, staking, and making in-game purchases. It enables holders to influence project decisions and earn rewards.
How can I buy AXS?
AXS is available on major cryptocurrency exchanges. You typically need to create an account on a supported exchange, deposit funds, and then trade for AXS.
Is Axie Infinity free to play?
While anyone can start playing, to truly compete and earn, players usually need to first purchase at least three Axies. This initial investment can vary in cost depending on the market.
Can I earn money with Axie Infinity?
Yes, many players earn income through gameplay, winning battles, and trading assets. However, earnings depend on market conditions, skill, and time invested.
What blockchain is AXS on?
AXS is an ERC-20 token, meaning it operates on the Ethereum blockchain.
Who created Axie Infinity?
Axie Infinity was created by Sky Mavis, a company founded by Vietnamese entrepreneur Trung Nguyen.
Disclaimer: This content is for informational purposes only and is not intended as investment advice. The cryptocurrency market is highly volatile; please conduct your own research and exercise caution before making any financial decisions.