Axie Infinity (AXS) Price

Axie Infinity was established in 2018 by Sky Mavis, a technology-focused game development company with a headquarters primarily in Vietnam. The venture was co-founded by Trung Nguyen and Aleksander Larsen. Trung Nguyen currently serves as the CEO of the platform. He holds a Bachelor's degree in computer software engineering and previously worked as a software engineer at Anduin Transactions before founding Axie Infinity. Aleksander Larsen, a former competitive gamer, is also recognized as a co-founder and the Chief Operating Officer (COO) of the platform. Larsen has been involved in blockchain gaming since 2017. Prior to his role at Axie Infinity, he served as the Executive Security Officer for the Norwegian Government Security Organization and continues to hold a position as Secretary of the Board of Directors at the Blockchain Game Alliance. The Axie Infinity team comprises a total of 25 full-time employees, many of whom possess experience in game development.

Each Axie features six out of the hundreds of potential body parts, each possessing its own unique battle move. This results in a nearly limitless variety among Axies, with most exhibiting relatively modest statistics, while those with the optimal combination of body parts can achieve outstanding stats. Unlike some other blockchain-based battling and breeding games, each Axie can only be bred a maximum of seven times to help manage the Axie population. Axie Infinity provides a dedicated mating hub to assist players in finding a compatible match for breeding their Axie, thereby maximizing the potential for producing rare or powerful offspring. Breeding Axies incurs a cost of 0.005 ETH in addition to Small Love Potion (SLP) tokens. Holders of the AXS token will soon have the opportunity to stake their tokens and receive regular rewards. However, unlike some other stakeable assets, AXS holders will also be required to participate in voting and gameplay to claim their rewards.

Axie Infinity's gameplay centers on the activities of battling and breeding Axies. The process includes purchasing Axies, engaging in battles with other players, breeding Axies, and selling them on the marketplace. To participate in battles, players must own an Axie and can choose between Adventure Mode (PvE) or Arena Mode (PvP). Axies have a breeding limit, with each capable of being bred up to seven times. Lunacia serves as the home of these digital creatures, partitioned into tokenized sections where players can explore resources and enhance their plots. The marketplace allows for trading of Axies and land plots. A significant aspect of Axie Infinity is its emphasis on community involvement, with each member actively contributing, participating in governance, and creating content. The developers have introduced unique mechanics that set Axie Infinity apart from its peers, such as built-in population control. Additionally, the diverse array of Axies, achieved through various attribute combinations, attracts gamers and collectors of rare NFTs. Addressing scalability challenges, Axie Infinity developed a sidechain on Ethereum known as the Ronin Network. This sidechain facilitates instant transactions without engaging the Ethereum blockchain. Users can securely store AXS and collectible NFTs in both Ethereum and Ronin wallets, and transfer tokens from Ethereum to Ronin wallets using the Ronin Bridge.

The native ecosystem token, Axie Infinity Shard (AXS), was introduced in November 2020. AXS is the primary mechanism for operating the Axie Infinity game, enabling players to purchase, trade, and earn tokens simply through gameplay. Additionally, the top players of each season are awarded AXS as rewards. Furthermore, AXS functions as a governance token, allowing holders to vote on gameplay changes and influence the platform's development. Axie Infinity (AXS) tokens have a total supply of 270 million. As of mid-November 2020, approximately 53.5 million tokens were in circulation. In aggregate, 11% of the total supply was allocated to participants in the Binance Launchpad Initial Exchange Offering (with each Axie Infinity token priced at $0.10) and 4% was sold through a private sale. Furthermore, 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. According to the current release schedule, as stated by Eulerpool, 100% of AXS tokens are expected to be in circulation by early 2026.

The Axie Infinity (AXS) token is an ERC-20 token initiated on the Ethereum blockchain. Consequently, it is secured by Ethereum’s proof-of-work (POW) consensus mechanism. In early 2021, Axie Infinity intended to transfer its NFT tokens, including Axies, Land, and other in-game item tokens, from the Loom Network to a tailor-made sidechain on Ethereum known as Ronin. Ronin is a sidechain designed specifically for Axie Infinity. It is being developed by Sky Mavis, the development company behind the Axie Infinity game, and is engineered to support nearly instant transaction confirmations, reduced gas fees, and enhanced scalability for Axie Infinity.

As of October 2021, Axie Infinity (AXS) is available for trading on numerous exchange platforms, including leading exchanges such as Binance, Huobi Global, Coinbase, Bithumb, KuCoin, Gate.io, and Kraken. The connection between Axie Infinity and Smooth Love Potion has led to numerous trading pairs being offered, including SLP to ETH and SLP to BNB. There is considerable interest in the Philippines for the SLP to PHP price, in Australia for the SLP to AUD, and in Europe for the SLP to EUR prices. Axie Infinity is listed with various price pairs, including popular ones such as AXS/USDT, AXS/BTC, AXS/BUSD, and AXS/BNB. As the game has increased in popularity, there is growing interest in AXS to PHP, AXS to AUD, and AXS to EUR price pairs as well.

Axie Infinity enables users to earn tokens through various aspects of gameplay. Additionally, it offers players the opportunity to breed, raise, and trade ecosystem game characters, commonly known as non-fungible tokens (NFTs) or Axie creatures. These virtual pets possess their own class, distinct characteristics, and a set of attributes. Axies are collectible and can be traded on the in-game marketplace known as P2P Axie. Each Axie comprises a combination of stats, including class and body parts, which determine their features and rarity level. The gameplay revolves around distinctive ability cards, which are directly associated with a configuration of characteristics. Each Axie is a unique NFT that is owned and controlled by its user.

Axie Infinity is a pioneering entity in the Play-to-Earn (P2E) concept, where players earn cryptocurrency and NFTs through gaming activities. Within this online game, users engage in turn-based battles, with the distinguishing factor being that players maintain control over their characters, land plots, resources, and various other in-game items. Axie Infinity thus represents an open digital universe where the economy is governed by its players. Ownership of in-game assets and unique digital items is authenticated through NFTs, which serve as a certificate affirming the right to property. As a result, users have the capability to sell their Axies to other players or securely store them in crypto wallets such as Trust Wallet, Binance Chain Wallet, or Ronin Wallet, the latter of which was specifically designed for Axie Infinity.