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What Is Axie Infinity And Should You Invest In AXS Tokens?

By Eric Rosenberg • December 1, 2021

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what is axie infinity

Axie Infinity is a unique crypto ecosystem that ties cryptocurrency, NFTs, and gaming into one experience.

You can buy the Axie Infinity currency on its own or use it as part of the game where you can collect characters for battle, land, and other blockchain-based assets to own and play.

Keep reading to learn more about how Axie Infinity works and if it could be a good fit for your cryptocurrency goals.


Table of Contents
What Is Axie Infinity?
Using Axie Infinity
Where To Buy Axie Infinity

Other Game-Based Tokens
Advantages & Disadvantages Of Axie Infinity
Should You Buy Axie Infinity?

What Is Axie Infinity?

Axie Infinity is both a cryptocurrency and game. Even if you’re not a gamer, you can still buy and hold the Axie Infinity Shard token (symbol AXS) through many popular crypto exchanges. But if you only look at the cryptocurrency, you’re missing a lot of what Axie Infinity is all about.

Using the Ethereum currency, you can create and trade in-game characters called Axies. You can also use AXS in-game. And active players can earn more while playing.

The game involves battling and collecting digital land and resources. It’s kind of like an amped-up version of Pokemon with aspects of MMORPG (massively-multiplayer online roleplaying games) and Magic the Gathering.

Axie Infinity game-play

Using Axie Infinity

Playing Axie Infinity is more complicated than putting a disk into your PlayStation and pushing the power button. You’ll need to download and fund a compatible cryptocurrency wallet like MetaMask, create an Axie Infinity account, generate a Ronin wallet (another blockchain wallet), download and install the game, and buy or create three Axies to start playing.

Unlike Pokemon, where you can have multiple Pikachus, every Axie is unique. There are about 140,000 Axies in existence today, viewable in the Axie Marketplace. 

Axie Infinity Axies

Once you’re all set and connected and own your first three Axies, you can send them to battle against other players. Axies are customizable with different abilities.

Land is also available to purchase, where you can harvest resources and host Axie battles. Land is limited in supply, so it’s wise to snatch some up when you can if you’re into the game.

This game was one of the reasons I bought an NFT.

Where To Buy Axie Infinity

As Axie Infinity grows in popularity, its cryptocurrency value has exploded from $0.50 per coin at the start of 2020 to a peak of over $160 in November 2021. If you bought in early enough and followed a HODL philosophy, you could have seen a 320x return in less than two years.

Axie Infinity historical performance

A handful of top cryptocurrency exchanges support the AXS token for trading. Those include Coinbase, Binance, Gemini, Kraken, Bitstamp, and others.

Keep in mind that Axie Infinity is a volatile and risky cryptocurrency, arguably riskier than more popular currencies like Bitcoin and Ethereum. However, with a well-supported and active blockchain of its own, Axie Infinity may be a far better choice than many new and risky altcoins flooding the crypto markets.

As of this writing, if you’re looking for secure offline (cold) storage, consider a Trezor wallet, which is compatible with the blockchains behind Axie Infinity.

Other Game-Based Tokens

While Axie Infinity is one of the better-known blockchain-backed games, it’s definitely not alone. Here are some other cryptocurrencies you can buy that are attached to specific online games or online metaverses:

  • The Sandbox
  • Enjin Coin
  • Decentraland
  • My Neighbor Alice
  • Illuvium
  • Yield Guild Games

Axie Infinity’s market cap is much larger than all of these other coins combined. But if you get in one of those other games early enough, you could luck out and see huge returns. Even if you don’t get the same 320x as Axie HODLers, the cryptocurrency gaming genre is just getting warmed up. There’s plenty more to come in the future.

Advantages & Disadvantages Of Axie Infinity

  • Cryptocurrency with potential for appreciation: Outside of the game, Axie Infinity is an investable cryptocurrency with the potential to go up in value.
  • Actively used currency in a busy ecosystem: Unlike some currencies that are only speculative, Axie Infinity is part of a game that’s widely played every day.
  • Used for Axie Infinity gameplay: In addition to investing, you can use Axie Infinity as part of a fun gameplay experience.

  • Technically difficult for some people: Setting up an account and getting started is a lot more complex than buying crypto on a major exchange or even transferring to another crypto wallet. If you’re not already comfortable with blockchains and cryptocurrency, you may struggle to get started.
  • Multiple wallets and currencies required: You’ll need multiple connected crypto wallets, including the somewhat obscure Ronin wallet, to play.

Should You Buy Axie Infinity?

Axie Infinity is useful as both an investment and a game-play token. If you want to get Axies and land of your own, you’ll need Axie Infinity token to get started. But as an investor, it’s up to you to decide if AXS is on the way up and a good place to put your money.

Eric Rosenberg
Eric Rosenberg

Eric Rosenberg is a financial writer, speaker, and consultant based in Ventura, California. He holds an undergraduate finance degree from the University of Colorado and an MBA in finance from the University of Denver. After working as a bank manager and then nearly a decade in corporate finance and accounting, Eric left the corporate world for full-time online self-employment. His work has been featured in online publications including Business Insider, Nerdwallet, Investopedia, The Balance, HuffPo, Investor Junkie, and other fine financial blogs and publications. When away from the computer, he enjoys spending time with his wife and three children, traveling the world, and tinkering with technology. Connect with him and learn more at EricRosenberg.com.

What Is Axie Infinity And Should You Invest In AXS Tokens?

Editorial Disclaimer: Opinions expressed here are author’s alone, not those of any bank, credit card issuer, airlines or hotel chain, or other advertiser and have not been reviewed, approved or otherwise endorsed by any of these entities.

Comment Policy: We invite readers to respond with questions or comments. Comments may be held for moderation and are subject to approval. Comments are solely the opinions of their authors’. The responses in the comments below are not provided or commissioned by any advertiser. Responses have not been reviewed, approved or otherwise endorsed by any company. It is not anyone’s responsibility to ensure all posts and/or questions are answered.

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