The current Axie Infinity (AXS) price stands at $2.22**, with a 24-hour trading volume of **$13,748,806. Over the past day, the AXS price has decreased by 5.20%, while showing a 7-day increase of 2.50%. With a circulating supply of 165,505,021 coins, Axie Infinity's market capitalization is $367,956,696, ranking it #115 in the cryptocurrency market.
Compared to its all-time high, the current AXS price is 98.66% lower, yet it remains 1,701.19% above its all-time low.
All data and pricing information are updated in real-time.
What Is Axie Infinity (AXS)?
AXS, or Axie Infinity Shards, serves as the native utility token for Axie Infinity, a pioneering Play-to-Earn blockchain game that combines battling, collecting, and trading mechanics. Before acquiring AXS tokens, investors and players should carefully analyze historical price movements, as the asset is known for its volatility.
The game operates on Ronin, a custom Ethereum sidechain built specifically to support Axie Infinity’s ecosystem. This dedicated blockchain enhances transaction speed and reduces gas fees, improving the overall user experience.
Ronin employs a multi-signature consensus mechanism involving nine validators. At least five validator signatures are required to approve deposits and withdrawals, ensuring security and decentralized oversight.
Inspired by classic games like Pokémon and Tamagotchi, Axie Infinity allows users to collect, breed, and raise fantasy creatures called Axies. These characters are represented as non-fungible tokens (NFTs), meaning each has unique attributes and cannot be replicated.
Axies come with various body parts—such as reptilian, avian, insectoid, or botanical—each belonging to one of four rarity tiers: Common, Rare, Super Rare, and Legendary. Every body part also confers a unique battle ability.
These NFTs can be used in 3v3 player-versus-player (PvP) combat. Victorious players earn Experience Points (XP), which help their Axies evolve and grow stronger.
Breeding is another core feature. Through Axie Infinity’s mating hub, users can pair their creatures to generate new, unique offspring. To maintain scarcity, each Axie can be bred only up to seven times. This process requires Smooth Love Potion (SLP), a secondary in-game currency distinct from AXS.
To start playing, users need a digital cryptocurrency wallet (such as MetaMask), a Ronin Wallet, and at least three Axies. Ethereum must be bridged from the mainnet to Ronin to facilitate transactions.
Background and Development
Axie Infinity was launched in 2018 by Sky Mavis, a Vietnam-based game studio co-founded by Trung Nguyen and Aleksander Larsen.
Larsen, a former employee of the Norwegian Government Security Organization, is a long-time gaming enthusiast and active participant in the blockchain gaming sector. He also serves as Secretary of the Board of Directors at the Blockchain Game Alliance.
Nguyen, a software engineer with a background in computer science, previously worked at Anduin Transactions and co-founded Lozi. The core team also includes Andy Ho as Chief Technology Officer and Tu Doan as lead game designer and art director.
Utility of the AXS Token
AXS is an ERC-20 token that powers the Axie Infinity ecosystem. Its primary function is governance—holders can vote on key decisions regarding game development and treasury fund allocations.
Additionally, users can stake AXS tokens to earn rewards. However, staking alone is not sufficient; active participation in governance and gameplay is encouraged to maximize yields.
Besides buying AXS on supported exchanges, users can acquire tokens through:
- Breeding and selling Axies
- Winning PvP arena matches
- Capturing rare Axies
- Earning SLP tokens via gameplay
- Completing in-game quests and adventures
Like most cryptocurrencies, the price of AXS is influenced by broader market trends, investor sentiment, and in-game economic dynamics.
AXS Tokenomics
AXS features a deflationary model with a maximum supply capped at 270 million tokens. Reduced token availability over time may positively impact its market value.
The initial token distribution occurred through a Bin Launchpad sale in 2020, during which 11% of the total supply was sold at $0.10 per token. The largest share, 29%, is allocated for staking rewards. Another 21% is reserved for Sky Mavis, 20% for play-to-earn incentives, and the remainder distributed among advisors, private investors, and an ecosystem fund.
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Frequently Asked Questions
What determines the price of Axie Infinity (AXS)?
The price of AXS is influenced by market demand, overall cryptocurrency trends, in-game adoption rates, investor sentiment, and updates from the development team. Since it is a utility token, its value is also tied to the popularity and economics of the game itself.
How can I safely store my AXS tokens?
You can store AXS in any ERC-20 compatible wallet. For long-term holding, consider using a hardware wallet for enhanced security. Always ensure your private keys are stored offline and never shared.
Is Axie Infinity still popular?
While player counts have fluctuated, Axie Infinity remains one of the most well-known Play-to-Earn games in the blockchain space. The team continues to release updates and new features to engage both new and existing players.
Can I earn AXS without investing money?
It is possible to earn AXS through gameplay, such as winning battles, completing quests, or breeding and selling Axies. However, new players typically need to acquire at least three starter Axies, which requires an initial investment.
What is the long-term vision for Axie Infinity?
Sky Mavis aims to expand the game into a broader digital nation centered around player-owned economies, decentralized governance, and immersive gaming experiences. The continued development of the Ronin blockchain is a key part of this strategy.
How does staking AXS work?
AXS holders can stake their tokens in official pools to earn periodic rewards. Staking also grants voting rights in governance proposals, allowing the community to guide the project’s future.