Axie Infinity (AXS)

Axie Infinity AXS explained

Axie Infinity AXS is a blockchain-based trading and battling game in which players own and operate a portion of the game.

Axie Infinity AXS, inspired by popular games such as Pokémon and Tamagotchi, allows players to collect, breed, raise battle, and trade token-based creatures known as Axies.

These Axies can take on many different forms, with over 500 different body parts available, including aquatic, beast, bird, bug, plant, and reptile parts. Axies can have any combination of body parts, making them highly variable and often rare and unique. Parts from each type class come in four different rarity scales: common, rare, ultra-rare, and legendary.

Each Axie is a non-fungible token (NFT) with unique attributes and strengths that can be used in 3v3 battles. The winning team earns more experience (exp) points, which can be used to level up an Axie's stats or evolve their body parts. These Axies can be bred together to create new and distinct offspring that can be used or sold on the Axie market.

Axie Infinity Shards are the Axie Infinity ecosystem's own unique governance token AXS. These are used to vote in key governance votes and will allow holders to influence how funds in the Axie Community Treasury are spent.

Each Axie has six of the hundreds of different possible body parts, each with its own battle move. This results in essentially infinite variety among Axies, with most Axies having relatively weak statistics and those with the strongest combination of body parts having incredible stats.

Unlike some other blockchain-based battling and breeding games, each Axie can only be bred seven times in order to help control the Axie population.

Axie Infinity has its own mating hub to assist players in finding a suitable match to breed their Axie with in order to increase the likelihood of producing rare or powerful offspring. Breeding Axies costs 0.005 ETH plus Small Love Potion (SLP) tokens.

Holders of AXS tokens will soon be able to stake their tokens in order to receive regular rewards. However, unlike other stakeable assets, AXS holders will also need to vote and play in order to receive their rewards.

Who are the Axie Infinity AXS Founders?

Sky Mavis, a technology-focused game developer with a team primarily based in Vietnam, founded Axie Infinity in 2018. Trung Nguyen and Aleksander Larsen co-founded it.

Trung Nguyen is the platform's current CEO. Prior to founding Axie Infinity, Nguyen earned a BS in computer software engineering and worked as a software engineer at Anduin Transactions.

Aleksander Larsen, a former competitive gamer, is also listed as a co-founder and COO of the platform. Larsen Since 2017, he has been involved in blockchain gaming. He previously served as the Norwegian Government Security Organization's executive security officer and currently serves as the Blockchain Game Alliance's Secretary of the Board of Directors.

The Axie Infinity team is made up of 25 full-time employees, many of whom have prior game development experience.

What is the total number of Axie Infinity AXS coins?

The total supply of Axie Infinity AXS tokens is 270 million tokens. As of mid-November 2020, approximately 53.5 million tokens were in circulation.

In total, 11 per cent of the total supply was allocated to Binance Launchpad IEO participants, and 4 per cent was sold in a private sale. Furthermore, 29 per cent is set aside for staking rewards, 20 per cent for the play to earn pool, 21 per cent for the team, 7 per cent for advisors, and 8 per cent for the ecosystem fund.

According to Binance Research's current release schedule, 100 per cent of AXS tokens will be in circulation by early 2026.

How Secure Is the Axie Infinity AXS Network?

The Axie Infinity AXS token is an ERC-20 token that was released on the Ethereum blockchain. As a result, Ethereum's proof-of-work (POW) consensus mechanism protects it.

Axie Infinity intends to migrate its NFT tokens, including Axies, Land, and other in-game item tokens, from the Loom Network to Ronin, a custom-built Ethereum sidechain.

Ronin is an application-specific sidechain designed specifically for Axie Infinity. It is being developed by Sky Mavis, the same company that created the Axie Infinity game, and is intended to support almost instant transaction confirmations, lower gas fees, and help Axie Infinity scale.

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