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The Axie Infinity (AXS) is the native token of the Axie Infinity gaming universe and provides many benefits to its holders. Axie Infinity Shards (AXS) and Smooth Love Potion (SLP) are the two main tokens of the Axie Infinity empire. AXS and SLP run on the Ethereum blockchain. AXS token is a governance token and allows users to vote to decide how the ecosystem fund is spent and distributed. It also provides staking rewards to users who decide to stake their tokens.
SLP, on the other hand, runs on the Play to Earn model and can be earned while playing. SLP is used to breed new Axies (characters that are required to play inside the game).
The AXS token has seen phenomenal growth and has pioneered the concept of Play to Earn games.
The initial total supply of AXS is fixed at 270,000,000 tokens. The project plans to move towards a fully decentralized ecosystem in the future. The Axie Infinity governance board has planned to release the tokens over a period of 65 months.
The distribution mechanism is explained below.
Play to Earn: 20%
Staking Rewards: 29%
Ecosystem Fund: 8%
Sky Mavis (Team): 21%
Public Sale: 11%
Private Sale: 4%
Has AXS Token been audited and doxxed?
Yes. The AXS token was audited Quantstamp and has been doxxed. The team behind the AXS Token publishes regular documentation via press releases and is active on social media channels.
Trust & Fairness: 5
Exchanges & Swaps: 4
Overall Rating: 4.5
Detailed Review of Axie InfinityToken (AXS)
The Axie Infinity token is used inside the Axie Infinity gaming ecosystem that allows players to engage in battle with the use of characters called Axies. The game is run on the Ethereum blockchain with a play-to-earn model where players can earn, buy, sell and exchange NFTs. Axies have different body parts and a variety of skill sets that provide them the ability to battle different characters. As players collect more Axies, they can be bred to produce different Axies in turn with different body parts.
The first battle game was introduced in October 2018 and the team plans to launch more tournaments and eSports in the future. Axie Infinity is the first proper use of blockchain technology to power an entire gaming ecosystem. Tournaments provide the ability for players to earn real money.
Axies can be bred by paying with some AXS or SLP tokens. Different characters require different amounts of AXS and SLP tokens. SLP tokens need to be earned inside the game ecosystem by playing. The total land, Lunacia is also divided into tokenized plots where AXS tokens can be found. The Axie Inifnity empire has been able to form important partnerships with Samsung, hTC, Maker, Binance, Klaytn, and Kyber Network.
Where to Buy Axie InfinityToken?
The AXS token can be bought on OKEx, Binance, Digifinex, Coinbase, Nominex, WazirX, Gate.io, FTX, Huobi Global, KuCoin, Bithumb, Kraken, Crypto.com, Gemini, Bitfinex, Coinone, Poloniex, Phemex, LBank, Upbit, Paribu, CoinDCX, LATOKEN, and BitForex.
You can buy AXS either through cash via P2P (peer to peer), credit or debit cards or through other cryptocurrencies.
If you already hold some crypto, then you can use the coins to purchase AXS directly through the supported decentralized exchange known as Uniswap. All you need to do is connect your wallet such as Metamask and select the appropriate coin pair that you wish to use for purchasing AXS (for example ETH/AXS). The decentralized exchanges are a quicker and easier method that guarantees anonymity as you do not have to deposit fiat currencies or complete a KYC process before purchasing the Axie Infinity token. You can also use AXS for purchasing other altcoins through the decentralized route as explained above.
What Can you do With the Axie InfinityToken?
NFT Marketplace: The AXS ecosystem supports NFTs that can be bought or sold between users. In the future, it plans to launch its own marketplace.
Hodl as a long-term investor: The developers of AXS have plans to include the token as a form of payment on NFT marketplaces all over the world. You could also simply hodl it and gain from its price appreciation in the long term. The token also generates passive income for its holders as it can be staked.
Swap AXS to other ETH tokens: You can use AXS and directly swap to other altcoins on a decentralized exchange. The process is quick and simple and is described below.
How to Swap AXS to other altcoins
Simply head over to a decentralized exchange and connect your wallet. Then, select the amount of AXS you wish to spend (factoring in transaction fees) and swap for another crypto token. You will receive the tokens in the same wallet.
How to Buy AXS?
In order to buy AXS, you will need to use a centralized exchange or a decentralized exchange. Decentralized exchanges (DEXs) are simple and easy to use and do not require any registration. The process of token swap on DEXs has been explained above.
For purchasing AXS on a centralized exchange, you will need to register and create an account with the exchange and then deposit fiat currencies or crypto assets that can be used to buy AXS. You will need to complete Know Your Customer (KYC) procedure to open an account on a centralized exchange.
Steps to open an account on a centralized exchange:
- Go to the exchange site where AXS is listed and click on the Register button.
- Then select your country of residence and proceed to the registration interface. Here, you will need to provide your email ID/phone number and a password that will be used to login into the newly created account.
- Click on the agree to terms and conditions button and wait for the verification mail or message.
- Clicking on the verification tab will take you to your new account. You will need to provide documentation such as a driving license, passport, or other government-issued IDs to confirm your identity and address. A utility bill and national ID may also be accepted in some cases. This process is known as the KYC regulation and it is in place to prevent the risk of fraud and to ensure that the site is safe for all users.
- Once this additional step is completed, the exchange will activate your account and you can deposit funds to start trading. You can select fiat currencies or cryptocurrencies supported by the exchange to deposit funds to buy AXS.
- Most exchanges support multiple payment methods including credit/debit card, bank transfer, third-party payment processors, and P2P transfer.
Upcoming Events/Launches – AXS Roadmap
The AXS token has plans to launch an NFT marketplace that will incorporate the ability for its users to access and mint exclusive NFTs. This will be an important breakthrough for the AXS coin and will help in generating more rewards for its users. The developers also plan to enable an entire social network for their users and a more enhanced gameplay experience including a breeding game. The Kingdom mode where players can build armies for battle play will also be introduced in the future. There are plans to ensure a ladder mode with progressive difficulty and more tournaments for the users.
Token Price & Chart
The all-time high price of one AXS was $0.164.90 on November 6, 2021. It is currently trading at $102 at the time of writing (Source: CoinGecko). The all-time low price was $0.123718 on November 6, 2020. Comparing the all-time low and all-time high prices, we get returns of about 83434% which are very impressive returns. The AXS token is slowly establishing its position as a leading cryptocurrency.
The AXS price can be checked on sites like CoinGecko and CoinMarketCap.