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Axie Infinity Shards (AXS) are the governance token of the popular blockchain-based game Axie Infinity. The game was created by SkyMavis and allows players to earn income through non-fungible tokens (NFTs), by breeding, battling, and trading digital pets called Axies.
Players need AXS tokens to trade Axies and can stake their coins to earn weekly rewards and participate in the protocol’s governance. New players have to buy at least three tokens, priced in ether, to truly participate in the game.
Each Axie is an NFT on its own with different attributes. These pets can enter battles to earn experience points and more. They can also be bred together to create new Axie NFTs with different attributes. These new Axies can then be used or sold on the Axie marketplace.
According to DappRadar, the Axie Infinity game has multiple ways to earn revenue and has been gaining popularity in developing countries like Brazil, India, Indonesia, and Venezuela as a way to earn income. Dedicated players can reportedly earn over $1,000 a month in the game.
The Axie Infinity game was created back in 2018 by Sky Mavis, a firm co-founded by Trung Nguyen and Aleksander Larsen. In total, the Axie Infinity team now has 25 full-time employees actively working on improving the game.
The Axie Infinity Shards were launched in November 2020 with a public sale price of just $0.1 per token – meaning their price has increased over 28,000% since launch. Their launch came as part of an effort to decentralize the game Etherscan data shows there are over 10,500 AXS holders.
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Try our free Axie Infinity Shards (AXS) portfolio tracker if you want to efficiently keep track of your AXS and other coin/token investments.