What is AXS? Does the token that valued 8000% go higher?

Axie Infinity Shards or AXS is the main currency of the Axie Infinity game, it has three main functions: payment method, staking and governance. The cryptoactive has already appreciated more than 8,000% this year, but what is so special about this token?

Axie Infinity is a mix of Pokémon and card games like Yu-gi-oh mixed with blockchain technology to maintain the economy and characters, which are NFTs in the Ethereum blockchain.

AXS is a token in Ethereum’s ERC-20 standard, not necessarily a cryptocurrency with its own blockchain, but a cryptoactive. It compares with the premium currency of online games.

How to earn AXS?

There are only two ways to earn AXS, buying and winning in-game competitions.

Read more: How to earn even more with Axie Infinity tokens – AXS and SLP

Unlike other premium currencies, AXS has a limit of 270 million units. The asset was divided between private investors, developers, game rewards and ICO buyers, as shown in the chart below:

Where to buy Axie Infinity Shards?

You can buy and trade AXS on the main cryptoactive brokers in Brazil like Binance, Huobi and FTX. There are also trading on decentralized exchanges like Uniswap.

Currently, the cryptoactive is used for the function of “breeding” or reproduction of Axies, but in the future the creator of the game Axie Infinity intends to increase its use for various functions such as in-game expansions and external applications.

The company responsible for development still wants to release new gameplay modes, increasing the scope of use of the main asset.

Why did the AXS go up so much?

The cryptoactive grew more than 8,000% this year and its rise is due to two factors:

  • Demand for the game mechanisms;
  • Speculation for future use in DeFi, staking and governance.

The first reason comes from the game engine itself, there is a need to buy AXS to create new Axies (characters). But we also can’t deny a lot of speculation for the upcoming features that have been promised by the developers.

One of the most anticipated functions is staking, in which AXS owners can hold the asset for a certain period and earn rewards. These rewards can come from the game’s own treasury.

The governance part is also highly anticipated, it will give active participation to the owners of Axie Infinity Shards in game decisions, according to the amount of assets. Thus, similar to a publicly traded company, you will be able to participate in the game’s governance decisions, with all the security of the blockchain.

It’s possible that the rally will continue if developers deliver full functionality and the player base continues to expand.

Understand more about the game: