Axie Infinity (AXS)

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Axie Infinity is a platform that allows you to earn tokens in a playful way and contribute to the ecosystem. Outwardly, this is a cartoon game about fantastic animals, but in fact, it is a social platform and a work network. It uses NFTs (non-fungible tokens, irreplaceable tokens) and, although still in early access, ranks first among NFT platforms on Ethereum.

AXS Token (ERC-20) is a governance tool for Axie Infinity. AXS holders are rewarded when they play games, create user-generated content, and participate in governance voting.

Axie Infinity offers the player a full-fledged economy in which they can sell their game assets by exchanging them for digital currency. Game assets (Axie) exist in the form of tokens. The user can store tokens independently, in a digital wallet, such as MetaMask. Downloading and setting up MetaMask takes only a couple of minutes.

AXS Token is a governance token for Axie Infinity. Conforms to the ERC-20 standard. The purpose of this asset is to balance the incentives for both players and developers. The two main goals pursued by the mechanism are:

  • Decentralization of project management.
  • Rewarding players and providing them with an incentive to use the platform and receive additional rewards.
  • Users are rewarded with AXS tokens for participation in voting and various actions during the game.

Despite the fact that the developers recognize the importance of decentralized management, they believe that the transition to it should be gradual and are reminded that many projects that did it abruptly were eventually abandoned. At the beginning of 2021, the treasury was developed. It will receive revenue generated by Axie Infinity and will eventually, with sufficient decentralization, be managed by AXS holders.

Read more:  Galaxy (GAL)

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