Axie infinity| Here’s Why Axie Is a Solid NFT Project

AXIE INFINITY

What Is Axie Infinity (AXS)?

axie infinity

axie infinity

Axie Infinity is a trading and battling game based on the blockchain; the game is owned and generated by its players partially. 

Axie Infinity(AXS) was built as a universe inspired by pokémon where users can earn tokens when they display skilled gameplay and contribute to the ecosystem.

 Players are allowed to collect, raise, battle, and build a kingdom based on land for their pets.

 

AXS Price Data

The current price of Axie Infinity (AXS) is at $44.75USD; AXS has had a trading volume of USD 7,674,764,433 in the last 24-hours. Axie Infinity(AXS) price has significantly increased up to 49.41% in the past 24 hours. 

Axie Infinity (AXS) is currently ranked #51 by CoinMarketCap ranking, AXS has a market cap of $2,725,552,187 USD. AXS has 60,907,500 AXS coins as its circulating supply AXS has a total maximum supply of 270,000,000 AXS coins.

Axie Infinity is a product of inspiration by major games like Pokémon and Tamagotchi; Axie Infinity allows players to collect, breed, raise, battle, and trade token-based creatures known as Axis.

These Axis can take various forms, with more than 500 different body parts available to players to choose from; these parts to choose from include: beast, bug, aquatic, plant, bird, and reptile parts. 

 

These Parts from each class type are in four different rarity scales: legendary, ultra-rare, rare, and common. All Axis are allowed to have any combination of body parts as desired by the players; this feature of having different body parts combinations makes Axis very highly variable and, more often than not, rare and unique.

 

Every available Axie used in 3V3 battles has several attributes and strengths as a non-fungible token (NFT). The team that wins any battle earns more experience (exp) points used in leveling up an Axie’s statistics or evolving the body parts of the Axis. 

Axis are bred to produce new and unique offspring; these new offspring can be sold or used on the Axie marketplace.

 

Axie Infinity Shards (AXS) is the Axie Infinity ecosystem unique governance token. Community members use the AXS token to participate in key governance votes; the votes allow holders to decide how the Axie Community treasury funds are spent. 

 

Axie Infinity and the Unique features

Every Axie has six mandatory body parts out of the hundreds of different potential body parts available in their possession. Each of the mandatory body parts of the Axie has its own battle move. Axies with the strongest body parts combination have incredible statistics, unlike the large number of Axies that have relatively weak statistics.

Every Axie can be bred with another Axie only for a total of seven times. This is to control the Axie population, unlike other battling and breeding games based on the blockchain.

 

Axie Infinity has a dedicated mating hub which it owns and uses to help players to be able to find a proper match of Axie to breed their Axie with so that they can stand the best chance at producing powerful or rare offspring. The cost of breeding Axis is put at 0.005 ETH plus Small Love Potion (SLP) tokens.

 

Axie Infinity (AXS) Coins in Circulation

There are a total of 270 million Axie Infinity (AXS) tokens in supply, out of which 53.5 million AXS tokens are in circulation. 11% AXS total supply was allocated to the users that participated in the Binance Launchpad IEO sale; 4% of the AXS total supply was sold during its private sale.

29% of the AXS total supply is allocated for staking rewards, 20% is allocated to the play-to-earn pool, 21% to the team that built Axie Infinity, 7% to advisors, and 8% is finally allocated to the ecosystem fund.

The current release schedule of Axie Infinity states that 100% of the total supply of AXS tokens will be in circulation by early 2026, as reported by the Binance research team.

 

How Axie Infinity Network Security

The Axie Infinity (AXS) token is secured with the Ethereum network Proof-of-Work(POW) consensus mechanism since it was launched on the Ethereum blockchain as an ERC-20 token.

Axie Infinity plans to migrate their NFT tokens, Axie, land, and in-game tokens later in 2021 to a custom-built Ronin sidechain on Ethereum from the looming network.

The Ronin sidechain is an application-specific sidechain built only for Axie Infinity. The Ronin sidechain has been built by the same firm that built the Axie Infinity game. The firm is known as Sky Mavis. The Ronin sidechain was built to support transaction confirmations almost instantly, process transactions with, and have the ability to help Axie Infinity to scale. 

 

Where Can You Buy Axie Infinity (AXS)?

Axie Infinity (AXS) was only traded on the Binance exchange on its launch and was listed with only four trading pairs: AXS/BUSD, AXS/BTC, AXS/USDT, and AXS/BNB as of November 2020, but as of today, AXS is traded on several other exchanges under the AXS/USDT pair mostly, thee other exchanges where you can buy AXS include: FTX, Upbit, Huobi Global and Bingbon.

Community developers can build tools of their choice and gain experience in the Axie Infinity universe because the art assets and Axie genetic data are easily accessible and open to 3rd parties. 

 

Axie though still early in access, is ranked #1 on Ethereum games all metrics of daily, weekly, and monthly active users. Axie has over 13,000 ETH generated in revenue which is equivalent to (16M+ USD) from the current price of Ethereum, and these figures are set to increase even further with time.

 

Earning Opportunities From Axie Infinity 

Players on the Axie infinity universe have earning opportunities which include:

  1. Players earn by taking part in PVP battles competition to win and earn leaderboard prizes.
  2. Players and users can earn by Breeding Axie and selling the same Axies at the Axie Infinity platform marketplace.
  3. Users earn by speculating on rare Axies and Collecting rare Axies such as Origins and Mystics.
  4. Users earn by Farming for the love portions that are used and needed for the breed Axies. 

 

Conclusion

Axie Infinity is a gaming platform that has outperformed its pairs in the crypto space, especially those on the Ethereum blockchain, considering its progress and growth in a short period of time; hence this would be a good project to have a look in on.

 

Disclaimer 

Trading and investing in cryptocurrencies or any other securities involves risks; hence the above article is in no way financial advice; therefore, do your due diligence.

Originally posted 2021-08-05 13:14:18.

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