Axie Infinity PRICE USD CHART

Axie Infinity is a blockchain-based play-to-earn (P2E) game where players fight and win against Pokemon-like creatures called Axies. It runs on Ethereum and makes use of the Ronin sidechain to offer lower transaction fees and delays. The gameplay involves players taking turn-based fights against computer-controlled Axie teams or live opponents over the internet. 

Axies serve as the game’s fundamental component, allowing players to battle, build, and search for treasures. Each Axie is represented as an NFT and has its own value, determined by skills, breed, and aesthetic character. Holders of Axie NFTs can trade them for real money on the game’s marketplace. Moreover, Axies may be bred to create possibly more powerful teams and more Axies to sell on the market. 

Following are the tokens that power the Axie infinity ecosystem: 

• AXS token is the native cryptocurrency of Axie Infinity used for in-game transactions and as a governance token. 
• SLP token is an in-game token that serves as a replacement for experience points and is used to breed new Axies. 

Axie Infinity employs an open-ended gaming environment where players may combat their Axies in real-time. The gameplay involves the following features: 

• Adventure Mode (PvE): This mode involves players battling against monsters. 
• Arena Mode (PvP): This mode involves players fighting with other players. 
• Breeding: Breeding Axies means producing new offspring that will mature into adult Axies who are ready to fight. However, each Axie can only be bred seven times to avoid inflation. 
• Land: Axie Infinity’s land are tokenized plots that players can purchase and upgrade to explore resources. 
• Marketplace: Axie Infinity’s marketplace is a decentralized NFT market where players can trade their in-game items. 

Axies have different sets of attributes that determine their fighting mechanics. They are differentiated based on classes:

• Aquatic, Beast, Bird, Bug, Plant, or Reptile
• Dawn, Dusk, and Mech (hidden courses)

This makes Axies valuable items, allowing them to be purchased and sold on the game’s marketplace. 

For breeding Axies, the game includes an online calculator and mating center that assists players in determining their odds of successfully breeding rare and powerful Axies. However, each consecutive breeding costs the player more tokens, thus the first Axie breed will be a lot cheaper than the last. 

The Axie homeland serves as the base for Axies and may also be built up over time with in-game resources. . 

Axie Infinity’s development began in 2017, led by its co-founder and CEO Nguyen Thanh Trung, alongside Tu Doan, Aleksander Larsen, Jeffrey Zirlin, and Andy Ho. The game was developed with inspiration from CryptoKitties, Pokemon, and Neopets. 

The initial battle version was launched in October 2018. The real-time card battle system and application were created in early-March, 2019, and released officially in December 2019. 

In mid-2021, the game migrated into the Ronin Chain for scalability and transactions. This was a significant move, as it managed to attract over 450,000 players daily by July 2021. 

In 2022, the game hit another milestone, becoming the first NFT series to exceed $4 billion in sales. 

However, Axie Infinity suffered a huge blow on March 23, 2022,  when hackers breached the Ronin Network, taking around $620 million in total funds. The hack currently sits as the largest-ever breach in the cryptocurrency industry by dollar value. 

AXS is an ERC-20 token. As a result, it is secured by Ethereum’s proof-of-work (POW) consensus mechanism. The game also uses the Ronin network’s security feature to protect its NFTs (Axies, Land, etc). 

Ronin’s network design provides fast transaction confirmations and lower gas fees, helping the game scale. But while the network has robust security standards in place, users must exercise caution when it comes to asset custody. Most hackers and frauds target individuals rather than protocols and platforms. Online crypto wallets or hot wallets are particularly vulnerable when it comes to compromising private keys.

Thus, using cold (hardware) wallets is necessary for optimal security. They store private keys offline, putting them at a safe distance from hackers. Ledger’s hardware wallets ensure that AXS tokens are fully secure. 

Axie Infinity (AXS) is available for purchase on multiple cryptocurrency exchanges globally. But this method poses security and ownership concerns. You don’t own the private keys of centralized wallets and must rely completely on the platform’s infrastructure. 

Ledger Live solves this problem. It enables you to simultaneously purchase and transfer AXS to your Ledger hardware wallet, ensuring that you have complete control of your private keys at all times. And naturally, this is the most secure way of buying AXS.

You can even use your PayPal account or debit/credit cards to purchase AXS on Ledger. And the process is very simple, involving five general steps:

1. Get a Ledger hardware wallet. 
2. Download Ledger Live on a web or mobile device. 
3. Set up Ledger Live. 
4. Connect the Ledger app with the Ledger hardware wallet.
5. Install the Ethereum application from the app catalog.
6. Start buying AXS using Ledger Live.