Axie Infinity is a P2E (play-to-earn) game that has an online environment centered around Pokémon-like characters called Axies. Users can gather these Axies as digital pets and then use them to breed, battle, raise, collect, and create their very own kingdoms. What distinguishes Axie Infinity from its conventional counterparts is the blend it has created between blockchain technology and online gaming. In this review, we will discuss everything you need to know about Axie Infinity.
Who Created Axie Infinity?
Sky Mavis is the Vietnamese-based studio responsible for the development of Axie Infinity. Commencing in 2017, its development was led by Nguyen Thanh Trung, Sky Mavis’ CEO and co-founder, and he had the help of Andy Ho, Jeffrey Zirlin, Aleksander Larsen, and Tu Doan. Prior to starting work on his own blockchain game, Nguyen had spent some funds on CryptoKitties, another blockchain-based game, and familiarized himself with some of its mechanics.
Where is Axie Infinity Located?
As mentioned previously, Sky Mavis, the gaming studio behind Axie Infinity, has its headquarters based in Vietnam, in Ho Chi Minh City.
How to Buy Axie Infinity?
While there is a multitude of ways for one to buy the AXS token, for this guide, we will be looking at the Bitget exchange as an example.
1. Signing up
To buy the AXS token on this exchange, you will obviously have to sign up first. Creating a new account can be done either through its website or mobile application, which is available on both iOS and Android. Then, from its homepage, go to the sign-up page and register for an account.
2. Completing KYC
Verifying your identity, or KYC standards, are necessary for every user on Bitget if they are to secure their account from fraud or other financing risks. Once you complete the KYC procedure, you will gain access to every single product or service Bitget has to offer.
The KYC process on Bitget is straightforward. First log in to your account, click on your profile icon, and then select the ID verification option. You might then be prompted to complete your account’s security. So, fill in the information that is asked of you here.
Then, complete your ID verification by entering the relevant section, clicking on the verification option, and starting to verify your Bitget account. Following that, add in your nationality, country, and ID information, and once you do that, follow the instructions outlined later, which mainly involve uploading photos of the relevant documents and also of yourself. Once all this is done, you will get an email if your Bitget account has been fully verified.
3. Fund Your Account
Before you buy AXS on the Bitget exchange, you will obviously have to fund your account first, and you have two options with which to do that. Hence, you can either purchase cryptocurrency using any of the various fiat currencies available or you can deposit cryptocurrency by initiating a transfer from a wallet or exchange.
4. Start Trading
Once you have completed all of the steps outlined above, you can instantly buy AXS by heading over to the markets section, selecting a trading pair that includes AXS, and choosing the type of order you would like to make, such as “market” or “limit,” for example. However, as previously stated, you will need to create an account on Axie Infinity and install the Ronin wallet extension if you are to use the AXS you have just bought.
How to Stake AXS?
Staking is easy as long as you are registered on the Axie marketplace and have installed the Ronin wallet. Just go to its staking dashboard, click on the “Stake” button, add in the amount you want to stake, click on “Stake” once more, and then a pop-up will appear asking you to confirm the transaction. Confirm the transaction, and you will then see your staked amount on the dashboard.
How to Mine Axie Infinity?
Since Axie Infinity is based on the Ethereum blockchain, the only token that could be mined on it is ETH, and even that is not possible now that Ethereum has moved to a proof-of-stake model. Although you can mine AXS via cloud mining, most, if not every, cloud mining firm these days is either an outright scam or operates with inefficient business models. So, it would be better to stay away from the whole cloud mining scene altogether.
Axie Infinity Price Prediction
According to Digital Coin Price the AXS token might hit approximately $30 by 2025. Its predictions for the following years are equally positive, claiming that the price could reach around $50 by 2028 and even break the $90 mark by 2030.
How does Axie Infinity Work?
Every Axie within the Axie Infinity universe is represented as an NFT (non-fungible token). Gamers can receive tokens if they engage in turn-based battles with either computer-controlled teams or actual players. The battles are turn-based, and the tokens rewarded to the players that win those battles can then be used in “breeding” new Axies, i.e., creating more NFTs in the process.
All this can give other players the impression that the Axie took a lot of time or effort to make, which is verifiable and can drive up its value. These NFTs could then be exchanged in the game’s virtual marketplace for actual money.
As mentioned previously, Axie Infinity is mainly centered around Axies, which players can raise, own, and battle with. There are plots of land as well, which players can use as raising or breeding grounds for their Axies.
The Sandbox, on the other hand, allows players to create entire experiences in that they can buy land and create their own 3D games on it, which they could then monetize. Overall, players have a lot more to work with the Sandbox, which can make all the difference if one is to make a decision regarding where to invest. Therefore, the Sandbox might be a more appealing alternative, mainly because of the variety it can offer in terms of gameplay, characters, worlds, and more.
Gala Games is a blockchain gaming platform that features various RPGs (role-playing games), RTS (real-time strategy games), MOBA (multiplayer online battle arena) titles, and more. Michael McCarthy and Eric Schiermeyer are credited with their creation, alongside the development of various popular gaming titles such as Farmville and others. At the moment, their platform only features three games that you can actually play, with eight more in development.
Where Can I Buy Axie Infinity?
Since Axie Infinity is a popular Ethereum-based P2E game, there are a number of popular exchanges where you can buy AXS, such as Binance, Coinbase, and more, or you can buy it directly by signing up on its official website.
Where to Buy Axie Infinity in the USA?
Axie Infinity is available in the US. So, US-based players can buy AXS from Coinbase or directly from its official website.
Is Axie Infinity a Good Investment?
It is a bit hard to determine that right now. Most of it is dependent on whether the NFTs, metaverse or P2E genre as a whole is headed towards recovery or whether they perform well. Before investing in AXS, or any other token for that matter, you should always conduct some thorough research. Even cryptocurrencies with a high market capitalization can be badly affected by bear markets. So, you should be prepared for any losses that you might incur.
Is Axie Infinity Safe?
This question will obviously be inclusive of the $620 million hack that took place last year. Although the hack was a direct result of a fake job offer that was handed out to one of the developers, it still dampened the public’s trust in the token. Still, Sky Mavis did actively try to recompense the affected players, so the funds were mostly recovered.
Overall, despite the hack, which most cryptocurrencies can be affected by anyway, it is a safe investment, mainly due to its popularity and reputation. So, gamers can invest freely without the fear of losing their funds due to theft or other cyber threats that affect the Axie ecosystem as a whole. However, players losing their funds due to the token losing its value is an entirely different matter, something of which they should always be mindful, regardless of whatever token they are investing in.
Axie Infinity Basics
Here are some factors that investors should consider before investing in Axie Infinity.
|Cryptocurrency Features||Axie Infinity (AXS)|
|Publisher or Developers||Sky Mavis|
|Headquarters (Registration Number)||Ho Chi Minh City|
|Published Date (CMC Registration)||2020-08-31|
|Max Supply||270,000,000 AXS|
Reliability Score of Axie Infinity in 2023
These are indexes mesuring the investment reliability of Axie Infinity conducted by Coin-Labs.com.
|Investment Reliability Rating Items||Scores and Current Status|
|Company Activation Rate||8.5 / 10.0 CAR|
|Communication Rate||9.8 / 10.0 CR|
|Technology Transparency Rate||8.8 / 10.0 TTR|
|Development Participation Rate||8.4 / 10.0 DPR|
|Listing Status on the World's Top 10 Exchanges||Listed on 10 Exchanges|
|Number of Available Pairs Worldwide||379 Pairs|
|Market Cap of the Cryptocurrency||841,618,459 USD (Rank #61)|
Axie Infinity Price
Here are the price and recent trading volume of Axie Infinity. (Data of 2023-11-30 10:33:00)
|Price Items||Price and Trading Volume of Axie Infinity|
|Axie Infinity Price||6.374 USD|
|Price Change 24h||-6.00%|
|Price Change 7d||7.36%|
|Trading Volume 24h||82,081,682 USD|
|Trading Volume Change 24h||-53.49%|
You can check the development status and social media information of Axie Infinity through the links in the table below.
|🌎 Official Website||https://axieinfinity.com/|
|📖 White Paper||https://whitepaper.axieinfinity.com/|
|🛰️ Source Code (GitHub)|
|🎺 Message Board||https://axieinfinity.medium.com|
Where to Buy Axie Infinity
Here are the top ten world crypto exchanges where traders can buy Axie Infinity in 2023.
|Top10 Exchanges||Listed Status||Page URL|
Frequently Asked Questions
What is the current price of Axie Infinity?
Axie Infinity price today is 6.374 USD. Furthermore, the price of Axie Infinity has fluctuated by -6.00% from 24 hours ago, and by 7.36% from a week ago.
Where is Axie Infinity listed?
Currently, it is listed on a total of 10 among the world top 10 exchanges.
What is the market cap of Axie Infinity now?
Currently, Axie Infinity has a market cap of 841,618,459 USD, which is ranking 61 among cryptocurrencies worldwide.
How much is the trade volume of Axie Infinity?
Currently, 132,040,367 AXS coins are circulating through 379 market pairs. As a result, in the last 24 hours, 82,081,682 USD of AXS coins were traded in the market.