What is Axie Infinity (AXS)?
AXS - The cryptocurrency of one of the most famous blockchain games in the world.
- Axie Infinity is a blockchain video game that has created a huge community due to its interactivity.
- AXS is Axie Infinity's native token, built especially to monetize the video game's content.
- Because the token runs on ERC-20 on Ethereum, the cryptocurrency can be used for various activities such as trading and for purchase.
Key metrics of Axe Infinity
Cap de Mercado
About Axie Infinity
Axie Infinity is a game created by Sky Mavis in the year of 2018. The main idea of this video game is to create a world with NFTs. Each character that is within this open world, can be upgraded, traded or simply used to interact with other players. It is a very similar mechanic to traditional RPG games.
But unlike most Blockchain video games, Axie infinity was different because it included enhanced combat mechanics and designs for the so-called 'warriors'. This led to one of the largest digital communities in Asia being built in Vietnam and South Korea.
Thanks to its new updates and its new PvP (Player vs Player) format, the monetization of the game increased, so the in-game economy began to increase, so Axie Infinity had the idea of creating its own Token called AXS, launched in early 2021.
After the creation of the token, Axie Infinity began to expand into other markets such as Europe and North America. In addition, the price of the token increased as more and more players started to invest in it to improve their character in the virtual world.
How AXS works
Axie Infinity Shard or AXS is an ERC-20 type token that works with Ethereum. Initially, the functioning of this cryptocurrency was to allow to create a fairer reward system within the game and give incentives to players who invested hours in this virtual world.
The number of tokens available are limited to 270,000,000, something that makes this cryptocurrency to be deflationary and limited in its existence, so the AXS community can better control the value of their virtual token with the rules of supply and demand.
AXS allowed the Axie Infinity video game to be more decentralized and governance to be much more open. Any player with AXS tokens will be able to vote for improvements to be installed in the virtual world.
Because it is built on the ERC-20 network, AXS can also be used within the common activities of the cryptocurrency world, such as trading, buying and selling crypto, Hold and even to generate interest.
For that reason, AXS has become one of the most widely used tokens for trading in 2021 and 2022. In addition, traders who are not part of the video game community can also make decisions regarding the governance of this cryptocurrency.