AXS
Reputation Ratings

AXS

Axie Infinity 5-10 years
Website https://axieinfinity.com/
Browser
OTH RELPs
White Paper
Avg Price
+1.72%
1D

$ 11.33 USD

$ 11.33 USD

Market Cap

$ 1.695 billion USD

$ 1.695b USD

24h trading volume

$ 200.02 million USD

$ 200.02m USD

7d Vol

$ 1.6646 billion USD

$ 1.6646b USD

Circulating supply

138.4 million AXS

Related information

Issue Time

2020-11-04

Platform pertained to

--

Current price

$11.33USD

Market Cap

$1.695bUSD

Volume of Transaction

24h

$200.02mUSD

Circulating supply

138.4mAXS

Volume of Transaction

7d

$1.6646bUSD

Change

24h

+1.72%

Number of Markets

424

Token conversion

/

Current Rate0

Available

0.00USD

Calculate

Historical Price

Introduction

Markets

3H

+0.12%

1D

+1.72%

1W

+10.99%

1M

+31.25%

1Y

+33.02%

All

+68.19%

Aspect Information
Short Name AXS
Full Name Axie Infinity Shards
Founded Year 2020
Main Founders Trung Nguyen, Jeffrey Zirlin
Support Exchanges Uniswap, Binance, OKEx, Huobi
Storage Wallet Metamask, Ledger

Overview of AXS

Axie Infinity Shards, commonly known as AXS, is a cryptocurrency token associated with the Axie Infinity platform. Founded in 2020 by Trung Nguyen and Jeffrey Zirlin, AXS is actively used within the Axie Infinity game universe and also serves as a governance token, granting holders voting rights on the direction of the game's future. AXS can be traded on several exchanges, including Uniswap, Binance, OKEx, and Huobi, and it can be stored in wallets such as Metamask and Ledger.

Overview of AXS

Pros and Cons

Pros Cons
Associated with popular gaming platform Volatile pricing
Trading available on multiple exchanges Dependent on the success of a single platform
Allows holders voting rights in game direction Not widely accepted for everyday transactions
Storage support from popular cryptocurrency wallets Digital asset risks like hacking and fraud

Diving into a comprehensive analysis of its strengths and weaknesses, it will equip you with the knowledge needed to make informed decisions in this dynamic digital realm.

Pros:

1. Associated with popular gaming platform: Being a token associated with the Axie Infinity gaming platform—one of the popular play-to-earn NFT platforms—AXS token has a distinctive advantage to gain traction amongst the gaming community.

2. Trading available on multiple exchanges: AXS tokens are available for trading on multiple reputable cryptocurrency exchanges, including Uniswap, Binance, OKEx, and Huobi. This can provide easy access and liquidity for the token holders.

3. Allows holders voting rights in game direction: AXS serves a dual purpose of investment and participation. Aside from its financial value, it also grants token holders voting rights on the direction of the Axie Infinity game. This participatory mechanism can make the token more attractive for those interested in the development and success of the platform.

4. Storage support from popular cryptocurrency wallets: With storage support from popular cryptocurrency wallets like Metamask and Ledger, users can securely store, send, and receive these tokens with relative ease.

Cons:

1. Volatile pricing: Like many cryptocurrencies, AXS also experiences significant price fluctuations. This volatility can present financial risks for investors, particularly those with low-risk tolerance.

2. Dependent on the success of a single platform: The value and future prospects of AXS are heavily dependent on the success of the Axie Infinity platform. Should the platform fail to maintain its popularity, the value of the AXS token could be negatively affected.

3. Not widely accepted for everyday transactions: Given that AXS is a specific platform token, it lacks the universality of major cryptocurrencies like Bitcoin or Ethereum, and isn't widely accepted for everyday transactions.

4. Digital asset risks like hacking and fraud: There is the general risk associated with digital assets, such as potential vulnerability to hacking and fraudulent activities, which could lead to significant losses.

What Makes AXS Unique?

AXS token, the native cryptocurrency of Axie Infinity, has carved out a unique niche in the crypto landscape. Its integration into a popular play-to-earn game provides a distinctive use case, unlike many other cryptocurrencies. While most cryptocurrencies serve predominantly as a store of value or a medium of exchange, AXS facilitates in-game transactions and even allows holders voting rights on the game's developmental direction.

However, AXS is not universally accepted for everyday transactions like Bitcoin or Ethereum, it's value and usability are firmly tied to the Axie Infinity platform. This may be seen as a disadvantage when compared to broader utility tokens. Nonetheless, its focus on the gaming community and the burgeoning world of NFTs sets it apart from many traditional cryptocurrencies. Despite these unique features, it's important to acknowledge that AXS does share common characteristics with other cryptocurrencies. For instance, it has the typical vulnerabilities of digital assets, such as significant price fluctuations and susceptibility to hacking and fraudulent activities.

What Makes AXS Unique?

Circulation of AXS

Axie Infinity Shards (AXS) is a native cryptocurrency of the Axie Infinity blockchain network, which is a popular NFT-based video game with over 2.5 million daily players and billions worth of gaming assets traded on its native marketplace. Launched in October 2020 through a public token sale, the initial price of AXS was set at $0.10 per unit. The price of AXS has experienced significant fluctuations, with its all-time high of $165.37. The token has a mining cap of 270,000,000, which is the same as its total supply.

How Does AXS Work?

As a governance and utility token of the Axie Infinity platform, Axie Infinity Shards, also known as AXS, functions differently compared to traditional proof-of-work cryptocurrencies like Bitcoin.

Bitcoin “mining” involves solving complex mathematical problems via powerful hardware, with the miner who solves the equation first being rewarded with newly minted Bitcoin. This process requires significant computational power and energy usage, leading to concerns about environmental impact. The mining process also determines how fast transactions are processed and added to the blockchain.

In contrast, there's no mining process involved with AXS as it utilizes the Ethereum blockchain's proof-of-stake consensus mechanism. Rather than “mining,” newly minted AXS are generally distributed as rewards for participation in the Axie Infinity ecosystem, such as breeding Axies and taking part in battles.

Given this model, there's no specific mining software or hardware required to generate AXS, instead, it's about participating actively within the Axie Infinity game. Also, transaction processing time for AXS would typically depend on the current state of the Ethereum network, as it's an ERC-20 token.

While AXS‘s model enables a wider group of individuals to participate and generate tokens by just being part of the gaming community, Bitcoin’s proof-of-work model ensures a higher level of security and the transparency of the minting process is incontrovertible.

To summarize, the two cryptocurrencies operate on fundamentally different principles: Bitcoin's model emphasizes security and decentralization at the cost of energy, while AXS emphasizes community engagement and platform involvement.

How Does AXS Work?

Exchanges to Buy AXS

Axie Infinity Shards (AXS) tokens can be traded on several cryptocurrency exchanges, including Uniswap, Binance, OKEx, and Huobi. Each of these exchanges offers different features and benefits:

1. Uniswap is a decentralized exchange built on the Ethereum blockchain. It's known for its permissionless trading and wide range of ERC-20 tokens available for trading.

2. Binance is one of the world's largest and most popular cryptocurrency exchanges. It provides a wide array of services – including spot trading, futures trading, and even a card for spending crypto assets.

3. OKEx is a Malta-based cryptocurrency exchange that provides a platform for trading various digital assets. It supports spot trading, futures contracts, and more.

4. Huobi is a Singapore-based cryptocurrency exchange known for its international multi-language platform and high liquidity.

As an ERC-20 token, AXS can also be transferred to any Ethereum-compatible wallet for personal storage post-purchase from these exchanges.

Exchanges to Buy AXS

How to Store AXS?

AXS tokens are built on the Ethereum platform and adhere to the ERC-20 standard, a common token standard in the crypto community. This means they can be stored on any Ethereum-compatible wallet. These wallets may vary in form and function, and users should select one based on their individual needs and preferences:

1. Software Wallets: These are applications or programs that can be installed on a computer or mobile device. They provide easy access and management of one's crypto assets. Metamask, an Ethereum-based browser plugin and mobile app, is one such software wallet that allows you to securely store, and transfer your AXS tokens.

2. Hardware Wallets: These are physical devices that can securely store cryptocurrency offline, a method referred to as 'cold storage'. These wallets ensure that your private keys (the cryptographic piece of data used to access your crypto assets) never leave the device, providing a high-security environment to protect against hacking and theft. Ledger is a popular hardware wallet that supports AXS.

3. Web-based Wallets: Accessible via internet browsers, these wallets allow for quick access and easy trading, but can be vulnerable to hacking. Metamask, apart from being a software wallet, also functions as a web-based wallet.

4. Paper Wallets: A physical document containing your private and public keys. This form of wallet offers a high level of security as it is immune to hacking and software failure but can be physically damaged or lost.

5. Mobile Wallets: These are apps on your phone that store your private keys and allow you to make transactions directly from your device. Trust Wallet and Coinbase Wallet are examples of mobile wallets that support ERC-20 tokens like AXS.

6. Desktop Wallets: These are installed on a PC or laptop and can only be accessed from that single device on which they were downloaded. They offer a good balance between security and convenience.

Remember, the security of AXS tokens, like all cryptos, largely depends on how securely the private keys are stored and handled.

Should You Buy AXS?

The decision to purchase Axie Infinity Shards (AXS) could be suitable for a variety of individuals based on their interests and investment strategies:

1. Crypto Enthusiasts: Individuals who are already involved in cryptocurrency and are open to diversifying their digital asset portfolio.

2. Gaming Enthusiasts: Those who participate in the Axie Infinity game and want to enhance their gaming experience. Owning AXS allows them to participate in governing the game platform.

3. Supportive Investors: Individuals who believe in the concept and potential growth of play-to-earn games and want to support projects in this space.

4. Risk-tolerant Investors: Given the volatility of cryptocurrencies, including AXS, individuals with a higher risk tolerance might consider investing.

If you're considering purchasing AXS tokens, consider the following advice:

1. Research: Thoroughly understand the Axie Infinity platform and AXS tokens – their use case, benefits, and risks involved.

2. Expert Advice: Seek advice from financial advisors and cryptocurrency experts. Cryptocurrency investments should be made as part of a diversified portfolio.

3. Secure Wallet: If you decide to invest, ensure you have a secure digital wallet that supports ERC-20 tokens to store your AXS.

4. Use Reputable Exchanges: Only use well-known and trusted exchanges when purchasing, ensure they have robust security measures.

5. Responsible Investing: Never invest more than you can afford to lose. While cryptocurrencies can be lucrative, they are highly volatile and losses can be significant.

Remember, all investments carry a degree of risk and investing in cryptocurrencies is no exception. Always conduct your own due diligence before making investment decisions.

Conclusion

Axie Infinity Shards (AXS) is an integral part of the Axie Infinity ecosystem, a pioneering gaming platform in the play-to-earn field. As the native governance and utility token of the Axie Infinity platform, its value and utility are tightly linked to the success and growth of that platform, offering potential opportunities for appreciation if the platform continues to succeed and expand.

As a governance token, AXS holders are incentivized to actively participate in the game's ecosystem, adding a layer of utility that isn't often seen in other cryptocurrencies. AXS can be traded on various major cryptocurrency exchanges, thereby adding to its accessibility and liquidity.

However, as is the nature with all cryptocurrencies, it is also subject to volatility and the incumbent risks associated with digital assets, such as potential vulnerability to hacking and fraudulent activities. Investing in AXS should therefore be made taking these factors into account and ideally as a part of a diversified investment portfolio.

As with any investment, the potential to make money is there, but it depends on a host of factors and it's important to conduct due diligence and research to fully understand the project and its long-term prospects before investing. AXS, like all cryptocurrencies, should be considered a speculative investment.

FAQs

  • Q: How does the governance model of Axie Infinity Shards (AXS) ensure decentralized decision-making and prevent centralization of power?

  • A: AXS serves as a governance token, allowing holders to participate in key governance votes. This decentralized governance model ensures that no single entity has undue influence over the platform's direction, promoting a democratic approach to decision-making.

  • Q: How does the staking mechanism for AXS tokens contribute to the overall security and stability of the Axie Infinity ecosystem?

  • A: Staking AXS tokens incentivizes long-term holding, which can reduce token volatility. Additionally, stakers play a role in validating transactions and securing the network, enhancing its overall robustness.

  • Q: With the rise of Layer-2 solutions, how does Axie Infinity plan to integrate or adapt to these technologies to ensure scalability and reduced transaction fees?

  • A: Axie Infinity has already adopted a sidechain called Ronin, designed by Sky Mavis, to offer faster transactions with lower fees than the main Ethereum blockchain. This showcases their proactive approach to scalability and user experience.

  • Q: How does Axie Infinity address concerns related to the environmental impact of blockchain gaming, given the energy-intensive nature of some blockchain operations?

  • A: While the provided content doesn't specify this, many blockchain platforms are transitioning to proof-of-stake (PoS) or similar consensus mechanisms that are less energy-intensive than traditional proof-of-work (PoW) systems.

  • Q: With the integration of DeFi elements in gaming, how does Axie Infinity ensure the security of its users' assets, especially with the increasing number of exploits in the DeFi space?

  • A: Axie Infinity would likely employ rigorous smart contract audits, bug bounties, and other security measures to ensure the safety of its integrated DeFi components.

  • Q: How does the Axie Infinity model ensure sustained player interest and engagement, given the dynamic nature of the gaming industry?

  • A: Through continuous updates, introducing new gameplay elements, and fostering a strong community, Axie Infinity aims to maintain and grow its player base.

  • Q: How does Axie Infinity plan to handle regulatory challenges, especially as governments worldwide start to scrutinize blockchain gaming and NFTs more closely?

  • A: While specifics would be detailed in their official channels, it's essential for platforms like Axie Infinity to work closely with regulators, ensuring compliance while advocating for the benefits of blockchain gaming.

  • Q: Given the volatile nature of cryptocurrency markets, how does Axie Infinity ensure that its in-game economy remains stable and doesn't adversely affect gameplay?

  • A: By introducing mechanisms like staking and governance, Axie Infinity can provide more stability to its token, ensuring that gameplay isn't heavily disrupted by external market factors.

  • Risk Warning

    Investing in cryptocurrencies requires an understanding of potential risks, including unstable prices, security threats, and regulatory shifts. Thorough research and professional guidance are advised for any such investment activities, recognizing these mentioned risks are just part of a wider risk environment.

User Reviews

More

72 ratings

Participate in evaluation
Windowlight
Axie Infinity Shards (AXS) is the native utility token of the Axie Infinity ecosystem, a blockchain-based game that has gained significant attention in the decentralized finance (DeFi) space. AXS serves multiple functions within the Axie Infinity universe, creating an intricate relationship between the token and the gaming platform
2023-11-24 04:20
6
0
Dan3450
AXS garnered considerable interest and valuation as a result of the play-to-earn model and the widespread appeal of the Axie Infinity game. Under this system, participants can earn cryptocurrency by actively participating in the game and undertaking diverse tasks within the ecosystem.
2023-11-27 15:21
1
0
Arly Deparii
AXS price is very volatile! Sometimes it's high, but it can fall in an instant. Community support is also less responsive when there are problems.
2023-09-14 14:36
5
0
ibrahimmohammed
very good
2023-05-09 07:44
0
0
zeally
The recent surge in Axie Infinity prices has captured the attention of investors, demonstrating the coin's potential for significant returns.
2023-12-22 07:29
2
0
leofrost
In my personal review of Axie Infinity's governance token, AXS, I find it fascinating how it powers the decentralized Axie Infinity ecosystem. AXS holders contribute to decision-making and participate in governance proposals. The play-to-earn model, where players earn AXS through gaming, adds a unique dynamic. Staying updated on Axie Infinity's developments, user adoption, and partnerships can offer valuable insights into the ongoing success of AXS.
2023-11-24 12:19
1
0
Windowlight
AXS, the native token of Axie Infinity, is at the forefront of blockchain-based gaming and NFTs. It has shown impressive growth and utility within the Axie ecosystem. However, like all cryptocurrencies, its value can be volatile. Monitor its developments in the gaming space closely.
2023-11-06 02:20
5
0
Scarletc
Axie Infinity is a play-to-earn blockchain game where players can collect, breed, and battle fantasy creatures called Axies.
2023-11-30 19:07
7
0
SolNFT
Axie Infinity is a blockchain-based game that falls under the GameFi category, allowing players to collect, breed, and battle fantasy creatures known as Axies. The in-game economy involves cryptocurrency tokens.
2023-12-22 12:55
2
0
A066907
The transaction fees of AXS are really unbearable for me. A lot of them were deducted after just a few transactions. But the security of the wallet is pretty good, at least I feel very safe.
2023-12-02 19:03
7
0
FX1133066067
AXS is amazing, the main point that impressed me is the advanced technology they use and the great potential for future development.
2024-01-21 01:29
2
0
phnx1989
this token so potential, look the chart. lets buy!
2023-09-07 08:14
6
0
eca440
Axie Infinity is an innovator in utilizing a new business model enabled by crypto: play to earn. Play to earn is a new business model in gaming that allows for an open economy within the game itself that provides financial benefits to the players who participate in the game.
2022-12-24 20:32
1
0
powerpufff
BEST P2E PROJECT!! it was really a hype back then and still believing this project
2022-12-24 19:10
0
0
xecious
still supporting this!!
2022-12-24 14:31
0
0
Salastio
AXS tokens are used to fulfill various in-game needs, from paying game fees and buying characters, to as a prestigious trading tool ,🚀
2022-12-24 08:15
0
0
Dream2622
AXS tokens are used to fulfill various in-game needs, from paying game fees and purchasing characters, to as a prestigious trading tool.
2022-12-23 11:21
0
0
Dian 4232
AXS is an Ethereum token that powers Axie Infinity, a blockchain-based game where players can battle, collect, and build a digital kingdom for their pets. AXS holders can claim rewards for staking their tokens, playing the game, and participating in key governance votes.
2022-12-23 10:13
0
0
Gapondzs
Boring legend,
2022-12-22 22:00
0
0
xiecle
Axie Infinity is a game about collecting and battling adorable creatures called Axies. But Axie Infinity is more than just a game. It is a universe of experiences with an active player-owned economy and a close-knit community.
2022-12-22 18:43
0
0

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