What is Axie Infinity (AXS)?
Axie Infinity (AXS) is the governance token for the blockchain-based game, Axie Infinity. Using blockchain technology, Axie Infinity is a battling game and trading platform that is operated, and partially owned by, players. The game is similar to that of Tamagotchi or Pokemon, allowing you to collect token-based creatures known as âAxiesâ and then breed, raise and battle them.
These Axies are actually NFT tokens and come in many different forms. Each Axie has a combination of animal characteristics, with body parts from species like mammals, reptiles and birds. As a result, every Axie has different attributes and levels of strength that make them rare and highly valuable.
Players can battle their Axies in teams of three. The winning team earns points which improve their Axieâs attributes and upgrades their body parts. These winning Axies can then be bred to create new, unique varieties of Axies which can be sold on the Axie marketplace.
Axie Infinityâs native token, AXS, is used as a governance token. AXS token holders can stake their AXS to vote on future developments within the game. Axie infinity also has two in-game currencies, Smooth Love Potion (SLP) and Axie infinity Shards. These currencies are used to breed Axies and upgrade their abilities.
You can buy Axie Infinity in Australia on the Swyftx crypto exchange.
How to buy Axie Infinity in Australia
You can buy Axie Infinity through a cryptocurrency exchange, like Swyftx. Our platform enables you to swap, sell and buy Axie Infinity in Australia with some of the lowest trading fees on the market courtesy of our small spreads. The âspreadâ is the difference between the buy and sell prices of a tradeable asset. Often, spreads exceed the rates advertised by providers by substantial amounts. This means that when you buy AXS through Swyftx you can rest easy knowing that youâre not being stung with any hidden fees.
To purchase Axie Infinity on Swyftx, simply sign up for an account via the app or website. Once your account has been created it only takes 2 steps to start trading. First, you must verify your identity by supplying a few key details â this process should take you roughly 3 minutes. Then, itâs just a matter of loading up your account. Swyftx allows you to deposit up to $50,000 AUD or BTC through bank transfer, POLi, PayID or credit/debit card. As soon as your funds are cleared, youâll be able to buy AXS and any other asset youâd like!
What makes Axie Infinity unique?
Axie Infinity is unique for its utilisation of NFTs. The major focus of the game is to play well so that you can earn tokens to breed Axies, which you can then sell for real money. When you create an Axie through the game, youâre essentially creating a unique and original digital object â an NFT. The process of NFT minting on the blockchain verifies that the NFT has value and is a key element to ensuring legitimacy.
In the past, games that tried to support these kinds of in-game transactions struggled to combat fraud and items being duplicated rather than earned. Axie Infinity has solved these problems by utilising NFTs, subsequently creating a supply-and-demand force within its marketplace that continues to drive up prices for the unique Axie monsters.
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