How and Where to Buy Axie Infinity (AXS)
Sky Mavis, a Vietnamese studio, created Axie Infinity back in 2018. CEO Trung Nguyen and Aleksander Larsen, COO, co-founded Axie Infinity as a “play-to-earn” platform that combines cryptocurrency with gaming.
Nguyen has a degree in software engineering, and Aleksander Larsen, a former gamer, has several years of competitive experience in blockchain gaming. He is Secretary on the Board of Directors for the Blockchain Game Alliance.
Axie Infinity’s popularity increased during the early stages of the Covid-19 pandemic. As more people found themselves out of work, the Axie Infinity “play-to-earn” model became a potential source of income, especially in countries where the economy took a nosedive, like the Philippines.
What Is Axie Infinity (AXS)?
Axie Infinity (AXS) is a blockchain-based NFT (non-fungible token) battle and trading game where players have a level of ownership unavailable on centralized gaming platforms. The NFT digital creatures are known as “Axies.” Each creature is a unique NFT with different game capabilities and strengths.
The Axie Infinity platform uses a “play-to-earn” gaming economy, which means players can mint, collect and raise creatures that they can breed, use in battles or trade for other Axies.
The Axies are malleable in that they can adopt unique forms, and boast over 500 different exchangeable body parts from birds, beasts, reptiles, plants and bugs. Each has a rarity scale:
- Ultra rare
Common Axies are less valuable than legendary Axies. The most expensive Axie sold for $820,000 on the Axie Infinity platform (at the time of writing).
Axie Infinity has an in-house marketplace that trades over $3.6 billion with 2.8m+ players and has developed a digital wallet called Ronin, enabling you to buy Axies directly from the wallet.
$AXS is Axie Infinity’s native governance token and it’s an ERC-20 cryptocurrency, making it compatible with the Ethereum network. Holders of $AXS coins who game on the platform can vote about spending allocation from the Axie Community Treasury funds.
What Makes Axie Infinity (AXS) Unique?
Each Axie creature has six body parts to attach, choosing from hundreds (and millions of combinations), as well as a unique battle move. The infinite variety means that the Axies with the toughest combination of body parts can gain the biggest advantage, depending on who they come up against.
What differentiates Axie Infinity from most blockchain-based breeding and battle games is that you can only breed your Axie up to seven times. This restriction helps to retain the value of the Axies and control the population. The platform has a “mating hub” where players can find a match to breed their Axie creature, always hoping to create rare, powerful, and valuable offspring.
Breeding your Axie requires a fee of $SLP (smooth love potion) tokens. You can earn $SLP tokens by completing daily quests and playing arena matches and adventure games.
Axie Infinity also has a game world called Lunacia, where you can buy virtual plots of land.
To get started, you need a team of three Axies. You can buy an Axie for around 0.005 ETH (Ethereum) and above on the Axie Infinity marketplace, so the cost depends on the Ethereum market price. You can build a team for around $100+.
Considering that the low-price Axie may not have much value in a game, it may take some time to build up value by adding new body parts or buying more valuable Axie.
You can learn more about the Axie Infinity community by joining the social media chat platform Discord. Axie Infinity has four regional Discord servers, one is global with over 700k members, while the Spanish, Philippine and Portuguese communities are growing daily.
How and Where to Buy Axie Infinity (AXS)?
Once you decide to buy Axie Infinity (AXS), it’s time to register with a cryptocurrency exchange. Binance, established in 2017, is a reliable platform with a broad range of coins and markets:
- Open a Binance account – sign up and submit your identification documents
- Deposit funds – you can deposit with cryptocurrency, fiat currencies via Visa or Mastercard, or using a wire transfer
- On the Exchange – find an $AXS pair – AXS/USDT, AXS/BUSD, AXS/BTC, AXS/ETH, AXS/TRY, AXS/BNB, AXS/BRL & AXS/AUD and make your purchase
- Secure your Axie Infinity (AXS) tokens – Binance has a free mobile app wallet (Trust Wallet), or you can choose to keep your funds on the exchange wallet (not advised)
How do I Sell Axie Infinity (AXS)?
You may wish to sell your Axie Infinity (AXS) tokens. If so, this is how to do so on Binance: –
- From the “trade” section, convert your $AXS tokens to a stablecoin like $USDT
- Send your $AXS tokens to an off-ramp platform, such as Coinbase
- Request a bank transfer when the $USDT is in the off-ramp platform and you have converted it to fiat currency
Should I Buy Axie Infinity (AXS)?
We cannot offer investment advice, but if you wish to buy Axie Infinity (AXS), we recommend using an established cryptocurrency exchange like Binance. Coinbase and Gate.io are two other popular cryptocurrency exchanges that list Axie Infinity (AXS) tokens.
How do I invest in Axie Infinity (AXS)? Safely?
There are no guarantees of making a profit from buying Axie Infinity (AXS). Our best advice is to decide how much you can afford to invest (and potentially lose) without unduly risking your finances.
The next step is to choose a trustworthy cryptocurrency broker. Binance, Coinbase, and Gate.io have good reputations in the crypto space, with a broad range of coins and trading markets. The exchanges are suitable for experienced and novice investors, with an easy-to-navigate user interface and crypto-wallets to securely store your Axie Infinity (AXS) tokens.