Axie Infinity is a crypto meets Pokemon style game that sees players battle, trade and raise NFT pets called Axies, but what is an Axie Infinity coin?
As mentioned, the game features crypto elements that make it a ‘pay to earn’ style affair, with a rapidly building fan base almost daily.
The actual way in which you can earn from the game is complicated if you do not know much about crypto, but hopefully, we can help you here!
Here’s everything you need to know about Axie Infinity Coin and the two native cryptocurrencies in the game.
Axie Infinity Coin
As noted, the game has two native cryptocurrencies, with Axie Infinity Shards (AXS), which can be bought and sold on crypto exchanges such as Coinbase, and Small Love Potion (SLP), which is given to players for spending time in the crypto-based title.
Axie Infinity Shards are the main tokens and coins for Axie Infinity. Players need to actually have some AXS to play the game itself, but this can also be traded like Bitcoin, Dogecoin or any other major cryptocurrency.
Coinbase also reveals that AXS serves as a governance token, meaning that holders also get to have a say in the future of the game.
The aforementioned Small Love Potion (SLP) is awarded to players when they spend time in the game itself. You can get SLP by beating an opponent’s Axie or by completing the various in-game quests.
The more time that players spend in Axie Infinity, the more SLP they can gain to sell on DEXs such as Uniswap or SushiSwap.
Axie Infinity Risks
Obviously, everything related to crypto and NFTs is a risk, with players potentially spending real-life currency to buy Axies.
If you do intend to play Axie Infinity, then be wary that the price of AXS and SLP will correlate to the game’s popularity. That means that at any time the player base may choose to migrate over to another popular/new title and Axie Infinity could completely lose value.
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