What Is Axie Infinity? Should You Invest In AXS And Where To Buy It?

Last Updated December 5th 2022

23 Min Read

One of the most wonderful things about the cryptocurrency industry is that it is an ever-expanding industry with several exciting projects. We've always known that blockchain technology has huge potentials, but the recent activities in the industry have made us realize that we actually underestimated the technology in the early days. The more exciting it becomes, the better the investment opportunities.

One of the cryptocurrency projects making waves around the world is Axie infinity. Inspired by popular games like Pokémon and Tamagotchi, Axie Infinity is one of the most exciting gaming networks in the world. It is an exciting ecosystem that rewards every participant, starting from gamers to investors. It has completely revolutionized the NFT-based video game industry. It is totally different from anything that has come before it.

If you are an ardent cryptocurrency investor, you must have heard about Axie Infinity. Its native token has done really well on the market, and people are buying it. But what is exactly is Axie Infinity? Should you invest in Axie? And where can you buy Axie (AXS)? These are just a few of the important questions you need to answer before investing in this exciting new coin.

We cannot overemphasize the importance of researching a coin thoroughly before investing in it. We have done the bulk of the research you will need to do to understand Axie Infinity. Here, we will present the most important information you need to determine whether Axie Infinity is an investment option you will like to consider. We will also help you identify the best place to buy the coin. Read on carefully to get the right information to make a sound investment decision.

Content:

What Is Axie Infinity?
A Brief History Of Axie Infinity
What Makes Axie Infinity Unique?
More About The Axie Infinity Tokens (AXS And SLP)
Should You Invest In Axie Infinity?
Is Axie Infinity A Safe Investment?
Major Reasons To Invest In Axie Infinity
Reasons To Think Twice About Investing In Axie Infinity
Where Can You Buy AXS?
Best Platform To Buy AXS
What Next After Buying AXS?
Key Points To Keep In Mind
Final Words

What Is Axie Infinity?

Axie Infinity is a unique NFT-based online video game that allows users/players to raise different digital pets, battle with them, and also trade them throughout the ever-expanding ecosystem. Inspired by such popular games as Pokémon and Tamagotchi, Axie Infinity has achieved astounding success in just a single year. As of August 2021, it had become the number-one Ethereum-based gaming DApp.

Axie Infinity is one of the cryptocurrency projects that remind us of the staggering capabilities of blockchain technology. It is properly designed to serve as a fun and lucrative gaming universe. Players can get into the game after buying three pets. They can then breed the pets carefully, battle with them to make some money. There are reliable reports that people in some countries are quitting their jobs to concentrate on playing and making money from Axie Infinity.

In Axie Infinity, each Axie is a non-fungible token with different attributes and strengths. They can be entered into three versus three battles. The winning side in each battle gain more experience (exp) points, which can be used to breed the Axie (evolve their body parts) further or to level up their statistics. Players can breed new Axies and also sell their pets on the marketplace.

Like every other valuable cryptocurrency project, Axie Infinity has a native token. Built on the Ethereum blockchain, the token is called Axie Infinity Shards, or simply AXS. You can also call the coin Axie Infinity. It is the governance token of the network, which implies that it grants holders voting rights to determine how the Axie Ecosystem is run. It is also the primary investment vehicle investors/traders can buy to make profits from the market. The network also has another token called Small Love Portion (SLP), which is primarily used to breed new Axies.

A Brief History Of Axie Infinity

Axie Infinity was created by Sky Mavis, a technology-focused game developer. Two co-founders are recognized as the primary inventors, namely Trung Nguyen and Aleksander Larson. The project was initiated in late 2017. The game was officially released in May 2018. At this time, it had one major feature, which is breeding Axies. Players could buy and breed Axies and use them to participate in battles.

From 2018 to date, Axie Infinity has been expanding in many ways. Several features have been added to improve the overall gaming experience and improve the lucrative nature of the game. Some of these important features include player versus player battles, NFT plots of land, as well as battle modes. Features are added on regular basis. Some experts believe it may become the most important gaming platform in the inevitable Metaverse.

Axie Infinity is run by a team of the industry's finest developers and engineers. Trung Nguyen is currently serving as the CEO of the company. The Computer software Engineer had worked with Anduin Transactions before cofounding Axie Infinity. Aleksander Larsen serves as the COO of the company. The former competitive gamer had previously worked for the Norwegian Government Security Organization as an executive security officer. He has been working in blockchain gaming since 2017.

Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.

What Makes Axie Infinity Unique?

Though NFT-based games have been around for a while and there are several options, we can help but state that Axie Infinity is different from everything that came before it. Even at the moment, the game is still a world apart from most other games in the growing industry. When compared to other cryptocurrency platforms, it is also a unique project.

Axie Infinity is properly designed to make gaming fun. Variety is one of the ingredients that make the universe a lot more fun. Axies generally have six body parts, out of hundreds of options. The proper combination of strong body parts determines the stats and potentials of the Axie. Invariably, this also determines the performance of the Axies and the potential money they can fetch players.

Axie Infinity is a complete gaming universe that boasts a unique mating hub. Players can find a suitable match to breed their Axies. The more suitable the match, the higher the chances of producing rare and powerful offspring. ETH and Small Love Portions are used for breeding.

Playing Axie Infinity is not the only way to make money from the platform. Of course, regular cryptocurrency investors/traders can buy and sell AXS on different platforms. The governance token of the network is available on many platforms and has performed relatively well since it was launched. As hinted earlier, it also confers on the players voting rights.

More About The Axie Infinity TokenS (AXS And SLP)

Axie Infinity Shards (AXS) is an ERC-20 token that serves as the primary token of the Axie Infinity network. As variously mentioned already, it is the governance token and primary investment vehicle in the network. Holders of the token are recognized as part of Axie’s decentralized organization. They can determine the development of the platform and how treasury funds are allocated and spent, among other important decisions.

Smooth Love Portion (SLP) is also an ERC-20 token. However, it is neither a governance token nor a primary investment tool. Rather, it is used to breed Axies for gaming. Of course, Axies can be sold too, meaning that SLP does not only help gamers win battles but contributes to how easily users can make real money from Axie Infinity. SLP can be earned by winning battles and adventures on the platform.

Like other valuable cryptocurrencies, Axie Infinity is traded on major cryptocurrency exchanges, brokerages, and other trading/investment platforms.

At the time of writing this piece, AXS was trading for $8.4 per token. Its market capitalization is $836 million, which makes it the #50th ranked cryptocurrency in the world. There are currently 99,854,113.86 AXS in circulation, which is just about 37% of the expected total/maximum supply of 270,000,000 AXS.

Should You Invest In Axie Infinity?

There are several exciting things about Axie Infinity, especially for gamers. Making money through gaming is an exciting thing, but how profitable is the platform. Also, not everyone is interested in engaging in battles and adventures to make money. Should a regular cryptocurrency enthusiast who has no interest in playing games for money invest in Axie Infinity?

As we’ve established already, Axie Infinity has a valuable native currency that serves as both the governance token and primary investment tool. Non-gamers can buy and sell this token for profit, even if they have little or no interest in the gaming features of the Axie Infinity Universe. How can you tell whether this token is a good investment option?

There are several considerations to make before deciding to either invest in Axie Infinity or ignore it. Firstly, you need to be sure that the platform is secure and that your investment will be safe after buying the token. You also need to find more reasons to invest in the coin than reasons to avoid it. We will start discussing these important aspects of Axie Infinity right away.

Check Out: Why Axie Infinity Is Going To Explode

Is Axie Infinity A Safe Investment?

The safety of your investment should be the first consideration to make before investing any capital. Of course, the safety of an investment is determined by several things, but it is mostly about how secure a platform is. In the case of Axie Infinity, it is generally regarded as a secure platform. AXS is an ERC-20 token built on Ethereum, which means it is secured by Ethereum’s proof-of-work (PoW) consensus mechanism.

Earlier in 2021, Axie Infinity migrated its NFT tokens, land, items, and Axies to a custom-built sidechain on Ethereum called Ronin. Ronin was specifically built for Axie Infinity by Sky Mavis, the original company that created Axie Infinity. Ronin has been an incredible sidechain since it was launched. It supports instant transactions, confirmations, and significantly reduced gas fees. It also helps the network to scale properly.

Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.

Major Reasons To Invest In Axie Infinity

If you are a gamer, then you probably have a million reasons to invest in Axie Infinity. What could be better than earning money from having fun? People have actually quit their jobs to play the game in some countries. How about those who are not so interested in breeding Axies and taking part in battles? There are many reasons to join Axie Infinity Investors, including the following:

1. Axie Infinity is the number one gaming platform in the blockchain industry

Axie Infinity is not the only play-to-earn gaming platform in the world, but it is the biggest and most lucrative at the moment. As the top platform in this special genre, it has already attracted several users. Many investors who consider the genre profitable have already backed the project heavily. It will continue to attract more gamers and investors in the foreseeable future.

2. Axie Infinity is run by a team of experts in blockchain and gaming

One of the major reasons Axie Infinity has performed so well in a short time is the expertise of the team behind the project. The cofounders collectively have extensive knowledge of both the blockchain and gaming industries. Obviously, they have brought their wealth of experience to bear on the project and are leading the company competently.

3. Axie Infinity boasts of a custom-built sidechain that makes it super-secured

A major technical issue can have severe consequences on gamers' progress and can lead to the loss of non-fungible tokens that represent assets in the Axie Infinity universe. To avoid this, Axie Infinity has built an incredible sidechain on Ethereum called Ronin. This is a major improvement, especially for the security of the network.

4. Axie Infinity is a fun place that has attracted millions of users

Gaming is supposed to be fun, regardless of monetary gains or losses. Axie Infinity was developed to offer value in terms of entertainment and profitable NFTs. They succeeded to a great extent. The platform is a very fun place, and it has millions of users at the moment. Massive adoption is one of the major reasons the platform is growing even bigger.

5. Axie Infinity is a big part of the NFT craze

The NFT craze has already created several millionaires. Axie Infinity presents an excellent way to test this fast-growing subsector in cryptocurrency. Axies are some of the most valuable NFTs in blockchain gaming, and this has a positive impact on the value of AXS, the primary token and investment vehicle of the network.

6. Axie Infinity is well-designed with enough features to support gamers and regular investors

The most wonderful thing about Axie Infinity is that it was not designed to serve only one segment of its audience. The entire ecosystem was well-designed to appeal to gamers who are interested in making money by winning battles and adventures and also to regular investors who will focus on trading the native currency, AXS.

7. Axie Infinity Shards (AXS) is a governance token that allows users to determine how the network is run

Axie Infinity players and regular investors have significant control over how the network is run. As stated severally, AXS is a governance token. What this means is that the holders of the token (including gamers and regular investors) have voting rights. They can vote on key changes as well as how funds are allocated and used on the network.

8. Axie Infinity allows for staking

It is always great to stake a valuable cryptocurrency. AXS allows for staking, which means you can make passive income even as you hold your AXS investment. Earning passive income while waiting for the price of the token to increase is a cool way to earn from your crypto investment portfolio.

9 AXS has performed really well in such a short time

For a cryptocurrency to break into the league of top performers, it usually takes time. AXS has done that in a little over one year after it was introduced to the market. Though some have labelled the growth as unsustainable, it is a good thing to see that the token of an NFT-based gaming platform can gain such value within a short period.

10. AXS is now traded in most cryptocurrency platforms

A few months ago, people were sceptical about investing in AXS because it was not available in major cryptocurrency platforms in the United States and the United Kingdom. This has become a thing of the past. AXS is available on major exchanges and brokerages. You can buy and sell at any given time, and improved liquidity is often a good sign for an investment vehicle.

Reasons To Think Twice About Investing In Axie Infinity

Though there are cool reasons to invest in Axie Infinity, there are some concrete reasons to avoid the platform also. Here are the major reasons to think twice before buying AXS:

1. AXS has shown signs of extreme volatility

Though volatility is one of the reasons people make huge profits on the cryptocurrency market, it presents big risks to investors. Cryptocurrencies are generally volatile, but some coins are more volatile and, therefore, riskier. AXS has shown signs of high volatility, which is not a good thing for a new coin that is slowly becoming pricey.

2. Axie Infinity is a relatively new cryptocurrency

Sometimes, it is easier to ascertain the sustainability of a digital currency by looking at its historical data. Of course, this is only possible and meaningful when a coin has been traded for some years. In the case of AXS, there is not enough historical data. In other words, the coin is relatively too new to be trusted. Investors need to be cautious in these early days.

3. Axie Infinity’s Popularity and patronage is more pronounced in poor countries

It has been variously reported that people are leaving their jobs to play Axie Infinity. However, this is happening mainly in developing countries. A good percentage of the Axie Infinity gaming community is from the Philippines and Vietnam.

4. Once Axie Infinity reaches its peak and starts falling, many gamers may discontinue

Plying Axie Infinity is profitable at the moment, especially since the price of the token started making massive gains. Most experienced observers understand that the game will continue to win hearts until the coin reaches its peak and start falling. After a while, many of the players may abandon the game.

5. The fast-paced nature of the cryptocurrency world means that a new gaming platform can rise up and knock Axie Infinity off its top spot

Of course, we all understand that the cryptocurrency world is extremely fast-paced. Axie infinity has benefitted from this and may still become a victim of it. As blockchain technology continues to advance, skilled developers will continue to create interesting gaming platforms. Some may rival Axie Infinity and take its place at the top. Such an incident can mark the beginning of the fall of the platform and its coin.

Don't Miss: Why Axie Infinity Will Skyrocket

Where Can You Buy AXS?

Are you seriously considering buying the Axie Infinity token (AXS)? You need to understand your options and weigh them properly. Where you buy and sell cryptos determines a lot of things, including the level of profits you will enjoy and the risks you will bear.

There are basically three categories of places you can buy AXS from, including cryptocurrency exchanges, brokerages, and apps that are neither official exchanges nor brokerages. You can research these options carefully to understand them better.

Many cryptocurrency traders and investors rely on official cryptocurrency exchanges to buy their tokens. Exchanges offer some benefits, including the availability of thousands of digital assets. But they are not as safe as they may claim to be. Many exchanges have been hacked in the past. Also, it is not advisable to leave any digital asset on an exchange for too long after making a purchase.

Many cryptocurrency traders/investors who have used brokerages to invest in top digital coins often come out happier than those who choose alternative platforms. Many progressive exchanges offer several perks for users who invest in cryptocurrencies. Brokerages are relatively safer than the other options, too.

The last category of platforms you can buy AXS include apps that are not recognized as exchanges or brokerages. Some of them are tagged investment platforms or trading platforms. They are riskier than both exchanges and brokerages. In fact, some are run by scammers who will not hesitate to disappear with investors’ funds.

Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.

Best Platform To Buy AXS

From what we have discussed so far, brokerages are better than exchanges and regular apps and websites where digital currencies are traded. The kind of brokerages we refer to are companies that are run by experienced traders. They normally offer other investment options like stocks, forex, options, ETFs, and more.

In the past, only a few progressive brokerages offered cryptocurrencies to investors. At the moment, many have started supporting crypto trading. The market is becoming bigger, so may still need to compare different brokerages before deciding on the one to buy from.

From our research and industry experience, we can state that eToro is one of the best places to buy AXS from. It is a top brokerage company and has been recognized as the number one social trading platform in the crypto universe. The best thing about eToro is that it has many features that are suitable for traders of all experience levels.

What Next After Buying AXS?

Buying AXS is just like the first step towards investing in Axie Infinity. You will need to find a good place to store the coin until the market becomes favourable to sell. This can take hours, days, weeks, or months. If you are considering a long-term investment, then you should prepare to keep the coin safe until it is time to sell.

Digital coins (all cryptocurrencies) are stored in digital wallets for safekeeping. There are different types of digital wallets, and they are used to keep different types of cryptos. Some wallets are classified as multi-token wallets because they can hold different types of coins. You should also consider the features of any digital wallet you choose, especially its security features.

If you decide to buy AXS from eToro, then you don’t have to bother so much about a digital wallet. eToro offers an easy-to-use, multi-crypto, secure digital wallet that can improve your trading/investing experience. Even if you decide to use another digital wallet, you can still buy from eToro.

Read More: Axie Infinity Price Predictions

Key Points To Keep In Mind

We have discussed the most important thing to know about Axie Infinity. We have also provided enough information to help you answer the question of whether to invest in Axie Infinity or not. Now, we will briefly summarize the key points that will help you make an informed decision:

Axie Infinity is an NFT-based gaming platform with lots of impressive features for gamers and regular cryptocurrency investors.
AXS's native currency is a governance token, which means it gives holders the power to determine how the network is run.
Axie Infinity is the biggest gaming platform in the blockchain industry and has millions of active gamers at the moment.
Axie Infinity allows gamers to make money from gaming – there are actually different ways to make money as a network participant/gamer.
AXS has grown so much in just one year of trading on cryptocurrency platforms.
AXS is a very volatile and risky cryptocurrency.
eToro is most likely the best platform to buy AXS, other cryptos, as well as many other investment tools.
It is important to keep your digital assets safe in a digital wallet, and you should take your time to choose a good digital wallet.

Final Words

Axie Infinity has flipped the gaming industry on its head. In three years, it has grown to become the biggest gaming platform in blockchain history, making as much as $40 million in as little as seven days. It has also become one of the top performers in the bubbling NFT scene. The AXS token has also grown so much that it is one of the most attractive coins in the NFT scene and the entire cryptocurrency universe.

There are many reasons to invest in Axie Infinity and a handful of concrete reasons to think twice about investing. We have discussed the most important things you need to know about the coin, and the ball is in your court. You should remember that cryptocurrency trading/investing is risky. Invest with caution.