Axie Infinity Shards Token (AXS) serves as the governance currency within the Axie Infinity game universe. Players holding AXS tokens can participate in decisions regarding game development, new features, and fund allocation.
Understanding Axie Infinity
Axies are digital creatures collected and battled in the Axie Infinity universe. The game operates on a player-owned economy, granting full ownership of digital assets, which can be traded similarly to physical collectibles.
Key activities include:
- Player-vs-Player (PvP) matches: Strategic battles for rankings and rewards.
- Quests and boss fights: Progression through the game's storyline, powered by AXS tokens.
👉 Discover how AXS fuels the Axie Infinity ecosystem
How Does Axie Infinity Shards Token Work?
Built on the Ronin Ethereum sidechain, AXS reduces transaction costs and latency. The game features two primary currencies:
AXS (ERC-20 Token):
- Used for in-game purchases and governance via staking.
- Grants voting rights on platform upgrades.
Smooth Love Potion (SLP):
- Earned through gameplay (quests, battles).
- Exchanged for NFTs like Axies or virtual land.
The play-to-earn (P2E) model rewards players with real-world value, blending skill-based progression with economic incentives.
Staking and Governance
- Stake AXS to earn rewards and influence the community treasury (valued over $1B).
- AXS tokens also serve as bidding criteria in NFT marketplace auctions.
Where to Buy AXS Tokens?
AXS is tradable on:
AXS Token History and Controversies
- Launched: November 2020 by Sky Mavis, raising $1.5M in 2019.
- Controversies: Player counts dropped to ~701,447 monthly (2023), down from 2.78M peak in early 2022.
Tokenomics
- Max Supply: 270M AXS.
- Circulating Supply: 59.9M (22.22% at launch).
- Price History: ATH of $165.37 (November 2021).
Competitors and Roadmap
- Inspirations: Pokémon, Tamagotchi.
- Roadmap: Plans to transition into a Decentralized Autonomous Organization (DAO), with phased token releases and ecosystem expansions.
Pros and Cons of AXS
| Pros | Cons |
|---|---|
| Robust in-game economy | Cannot be mined |
| Transparent market-driven values | Limited exchange availability |
| Clear development roadmap | NFT market risks (overvaluation) |
FAQ
Q: Can AXS be mined?
A: No. AXS is an Ethereum-based token; only ETH is mineable on its blockchain.
Q: How do I earn AXS?
A: Through gameplay, staking, or trading on supported exchanges.
Q: What’s AXS’s utility beyond governance?
A: It facilitates NFT marketplace transactions and qualifies users for exclusive auctions.
Q: Is Axie Infinity free to play?
A: No. Players need at least 3 Axies (NFTs) to start, requiring an initial investment.
Q: What drives AXS’s value?
A: Scarcity, governance power, and demand within the Axie ecosystem.
👉 Explore Axie Infinity’s latest updates
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