- 1 Mar, 23
Axie Infinity (AXS) Explained: What You Need to Know
The world of cryptocurrency and blockchain technology has given rise to new projects that span multiple industries. Axie Infinity (AXS) is one such project that made a big splash after its launch in 2018. At the time, Axie drew attention by integrating the worlds of gaming, cryptocurrency, and blockchain to offer users a unique experience.
Today, AXS, the native cryptocurrency of Axie Infinity, is among the most popular cryptocurrencies in the world. Its popularity is owed to a game model called “Play to Earn,” which allows users to earn rewards in the form of cryptocurrency by playing games. This means they can earn money passively. If you are interested in AXS, this Zatrun.com guide is for you.
Table of Contents
What is Axie Infinity?
Axie Infinity is a Play to Earn game that was launched in 2018. In these games, users can earn rewards passively and generate returns. The Play to Earn mechanic of Axie is extremely simple. The game, inspired by Pokemon, is based on cute creatures called “Axie”. Players use these Axies for purposes such as battling, breeding, and raising them to build their land-based kingdoms. The game’s economy is sustained by two cryptocurrencies, AXS and SLP.
Axie Infinity is community-run, has a decentralized architecture, and is built on the Ethereum blockchain. Axie, the most popular Play to Earn game built on Ethereum, has grown its player base, particularly during the Covid-19 pandemic. The game has generated earnings of over 6,400 ETH to date and hosts thousands of unique users daily. 6,400 ETH is equivalent to $9 million at current price data.
How to Play Axie Infinity?
Users can access the game both from their computer and mobile device. To play the game on your computer, you need to go to the Axie website and click on the “Play Now” button. This button will redirect you to the website of Sky Mavis, the company behind the game. On the Sky Mavis website, you need to click on the “Get Started” button to create a Ronin Wallet.
To play the game, you need to have 3 Axies. After creating a Ronin Wallet, the website will redirect you to a page where you can purchase Axies with ETH. Once you complete the purchase, you need to follow the membership steps to create an account. After that, you can download and install the game on your computer and start earning money in the Axie Infinity world.
How to make money with Axie Infinity?
Axie Infinity players can earn passive income in the form of rewards called AXS by breeding, selling, and battling their Axies. The most common way to make money is through Axie battles and daily quests. By battling with your cute creatures, you can earn rewards in the form of cryptocurrency. Additionally, completing daily quests in the game’s “Adventure” mode can also earn you AXS.
Breeding Axies, each of which is a cute creature, is also possible. By doing so, you can create unique offspring Axies that take 5 days to mature into adults. Axies have various levels of rarity, and each Axie is processed as an NFT on the blockchain. Axie owners can sell their cute creatures on the game’s NFT marketplace. Rarer Axies command higher prices, with the most expensive Axie sold to date being worth $820,000.
What is AXS? Is It a Good Investment?
AXS is the utility token of the Axie Infinity game. Users earn rewards in the form of AXS by playing the game. This cryptocurrency is used as an exchange tool in the game’s economy. In other words, users can purchase in-game items with AXS. Additionally, the asset serves as a key to participate in the management of the game. AXS holders earn voting rights in the management of Axie Infinity. This way, they can directly impact the future of the game.
The price of AXS coin is driven by the popularity of the Axie Infinity game. In 2021, the game managed to reach a large audience, leading to an increase in the use of AXS. With the influence of the bull market, the token reached an all-time high of $160 in September. However, the crypto world is currently struggling with the effects of a continuing bear market.
Currently, an AXS is trading at $7.72. Analysts express positive views on whether the cryptocurrency will see a higher price level in the future. However, the game has come into the spotlight in the past with a series of hack attacks, and the Bitcoin price directly affects the value of AXS. Therefore, investors need to manage their funds effectively and keep track of developments.