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Axie Infinity (AXS) Things You Need To Know Before Investing

What Is Axie Infinity (AXS)?

Axie Infinity is a blockchain-based trading and battling game partially owned and operated by its players. Check out our deep dive of Axie Infinity to learn more about this project.

Inspired by popular games like Pokémon and Tamagotchi, Axie Infinity allows players to collect, breed, raise, and trade token-based creatures known as Axies.

These Axies can take various forms, and there are more than 500 different body parts available, including aquatic, beast, bird, bug, plant, and reptile parts. In addition, parts from each type class come in four different rarity scales: common, rare, ultra-rare, and legendary — and Axies can have any combination of body parts, making them highly variable and often rare and unique.

Each Axie is a non-fungible token (NFT) with different attributes and strengths and can be entered into 3v3 battles. The winning team earns more experience (exp) points used to level up an Axie’s stats or evolve their body parts. Additionally, these Axies can be bred together to produce new and unique offspring, which can be used or sold on the Axie marketplace.

The Axie Infinity ecosystem also has its unique governance token (Axie Infinity Shards (AXS). These are used to participate in crucial governance votes and will give holders a say in how the Axie Community Treasury funds are spent.

Who Are the Founders of Axie Infinity?

Axie Infinity was created in 2018 by Sky Mavis — a technology-focused game developer with a team primarily based in Vietnam. Trung Nguyen and Aleksander Larsen co-founded it.

Trung Nguyen is the current CEO of the platform. Nguyen graduated with a BS in computer software engineering and worked as a software engineer at Anduin Transactions before founding Axie Infinity.

Former competitive gamer Aleksander Larsen is also credited as a co-founder and COO of the platform. Larsen has been working in blockchain gaming since 2017. He previously worked as the executive security officer for the Norwegian Government Security Organization and still sits as Secretary of the Board of Directors at the Blockchain Game Alliance.

The AXS team consists of 25 full-time employees — many of whom have experience with game development.

What Makes Axie Infinity Unique?

Each Axie possesses six out of the hundreds of potential body parts — each of which has its battle move. This produces essentially endless variety among Axies, with most Axies having relatively weak statistics while those with the most refreshing combination of body parts can have incredible stats.

Unlike some other blockchain-based battling and breeding games, each Axie can only be bred seven times to help control the population of Axies.

AXS has its mating hub to help players find a suitable match to breed their Axie to stand the best chance of producing a rare or powerful offspring. It costs 0.005 ETH in addition to Small Love Potion (SLP) tokens to breed Axies.

AXS token holders will soon be able to stake their tokens to receive regular rewards. But unlike some other stackable assets, AXS holders will also need to vote and play to claim their rewards.

How Many Are Axie Infinity (AXS) Coins There in Circulation?

Axie Infinity (AXS) tokens have a total of 270 million tokens. Out of this, around 53.5 million tokens were in circulation in mid-November 2020.

11% of the total supply was allocated to participants in the Binance Launchpad IEO sale (each AXS token price was $0.10), and 4% was sold in a private sale. In addition, 29% is allocated for staking rewards, 20% to the play-to-earn pool, 21% to the team, 7% to advisors, and 8% to the ecosystem fund.

Based on the current release schedule, as indicated by Binance Research, 100% of AXS tokens will be circulating by early 2026.

How Is the Axie Infinity Network Secured?

The Axie Infinity (AXS) token is an ERC-20 token launched on the Ethereum blockchain. As a result, it is secured by Ethereum’s proof-of-work (POW) consensus mechanism.

In early 2021, AXS plans to migrate its NFT tokens, including Axies, Land, and other in-game item tokens, from the Loom Network to a custom-built sidechain on Ethereum known as Ronin.

Ronin is an application-specific sidechain built just for AXS. It is being developed by Sky Mavis — the development firm behind the Axie Infinity game. It is designed to support almost instant transaction confirmations, reduce gas fees and be capable of helping AXS scale.

Where Can You Buy Axie Infinity (AXS)?

As of October 2021, Axie Infinity (AXS) is available to trade on numerous exchange platforms, including top exchanges like Binance, Huobi Global, Coinbase, FTX, Bithumb, KuCoin, Gate.io, and Kraken.

The link between Axie Infinity Smooth Love Potion led to numerous trading pairs being offered, including SLP to ETH and SLP to BNB. However, there is substantial interest in the Philippines for the SLP to PHP price, Australia for the SLP to AUD, and Europe for the SLP to EUR prices. It is listed with numerous Axie Infinity price pairs, including popular ones like AXS/USDT, AXS/BTC, AXS/BUSD, and AXS/BNB. The game has risen in popularity, interest in the AXS to PHP, AXS to AUD, and AXS to EUR.

Also Read: Ethereum Classic (ETC) Things You Need To Know Before Investing

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