What is AXS token?
Why is the AXS token interesting?
Since early 2021, crypto games have received enormous attention from players and investors. This is because returns from each token are significantly rising. One of them is, of course Axie Infinity blockchain game. Compared with the number of users and increasing profits on the platform, one of the tokens everyone is talking about is AXS. It comes from the concept “Play-To-Earn”, a model for games where players can earn money by playing. More importantly, those who have no idea about blockchain technology can play this game as well.
What is AXS token?
AXS stands for Axie Infinity Shard. It is an ERC-20 token built on the Ethereum Blockchain and has a maximum supply of 270,000,000 AXS coins. In fact, AXS was created to be used on Axie Infinity’s platform. Inspired by Pokémon, this Axie Infinity is a fighting game where players can breed and train their Axies to fight against others.
Regarding breeding their Axies, players must consider the characters’ race and ranking to stand the best chance at producing powerful offspring. Also, players can sell their Axies on the NFT marketplace and exchange their islands or any items in this game.
In Axie Infinity, there are two game modes: Adventure Mode in which players need to fight and successfully complete each level, and Arena Mode which features fighting matches and requires at least 3 Axies in the battle.
AXS token holders will have a voting right to have a say in the game’s development. Also, they can stake their tokens to receive regular rewards and use AXS coins to pay for any items on the platform; for example, purchasing Axies on the Marketplace. Thus, the sharp increase in AXS tokens depends on the growth of Axie Infinity’s platform
Why is the AXS token interesting?
The significant rise in crypto gaming tokens is partly because many investors are more interested in NFT, allowing them to better understand this type of crypto token. Moreover, Axie Infinity is likely to succeed as the platform income and popularity among users are growing.
The image above is the information of reference on 30 July 2021, showing the total revenue of Dapps on each platform. It found that in the last 30 days, the Axie Infinity platform had the highest total revenue, with a value of up to US$166.6 million.
The image above is the information of reference on 30 July 2021, showing the total revenue of Dapps on each platform. It found that in the last 30 days, the Axie Infinity platform had the highest total revenue, with a value of up to US$166.6 million.
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