Axie Infinity Coin is the native cryptocurrency of Axie Infinity, a blockchain-based transaction and combat game partly owned and operated by its players. Inspired by popular games like Pokemon and Tamagotchi, Axie Infinity allows players to collect, breed, raise, battle, and trade token-based creatures known as Axies.
What is Axie Infinity (AXS)?
Axie Infinity (AXS) is the token that connects all members of the Axie community. AXS holders can earn rewards if they use their tokens, play the game, and participate in significant governance votes. Players can also earn AXS by playing various games within the Axie Infinity Universe and through user-generated content initiatives.
AXS tokens can be used in three ways on the platform:
- Staking: Players can lock their tokens to receive newly created AXS. Stakers also need to vote and play to claim rewards.
- Payments: AXS is accepted as a currency in the Axie NFT marketplace. AXS can also be used to determine eligibility for certain sales/auctions conducted by the Axie team.
- Governance: Beginning in early 2021, the Community Treasury will be launched and start receiving a portion of the revenues generated by Axie Infinity as well as staking rewards. This treasury will be managed by AXS stakers once the network becomes sufficiently decentralized.
In addition, each Axie is a non-fungible token with different attributes and powers, and the winning team can earn more experience points used to upgrade an Axie’s statistics or evolve its body parts. These Axies can be paired to produce new and unique offspring that can be used or sold in the Axie marketplace.
On the other hand, each Axie in the game has six out of hundreds of potential body parts, each with its own combat move. This creates essentially infinite variety among Axies, with most having relatively weak statistics while those with the strongest combination of body parts can have incredible stats.
Unlike some other blockchain-based combat games, each Axie can only be bred a total of seven times to help control the Axie population.
AXS Coin Commentary
AXS coin seems to be particularly attracting the attention of gaming enthusiasts. However, some investors also believe that Axie Infinity Coin is promising and will be among the most talked-about cryptocurrencies in the coming months.
Additionally, as AXS Coin is still very new, it is also considered a cryptocurrency that is approached cautiously. Despite being very new, the current figures of AXS coin can provide clues about future expectations.
At the time of writing, Axie Infinity Coin is trading at $0.4667 and 0.00002572 BTC against Bitcoin. According to CoinMarketCap, AXS coin, ranked 331st in terms of market cap, has a market cap of $26,661,888 USD.
Additionally, there are currently 53,500,010 AXS in the market, and it is stated that there will be a total of 270,000,000 Axie coins. It is also worth noting that Axie Infinity coin hit its lowest point at $0.1234 on November 6, 2020, and its record level at $0.6855 on November 15, 2020.
How to Buy Axie Infinity Coin?
Axie Infinity Coin can be purchased through Binance, the world’s largest cryptocurrency trading platform by transaction volume, which listed Axie Infinity (AXS) in November 2020.
In addition, Binance users can currently carry out AXS/BTC transactions.
