2023-07-24clock6 minutes

Axie Infinity: History of Cryptocurrency, Blockchain and its purpose

In the fast-evolving landscape of cryptocurrencies, Axie Infinity (AXS) stands out as a unique and fascinating blockchain project.

Created by an innovative mind, this digital asset has captured the attention of crypto enthusiasts worldwide.

In this article, we'll explore the ins and outs of Axie Infinity, shedding light on its inception, blockchain, and will tell you about Staking, the way of passive income.

What is Axie Infinity (AXS)?

Axie Infinity was born in 2018, a brainchild of Vietnam-based developers, Sky Mavis. The founders envisioned a platform that combined blockchain technology with play-to-earn gaming mechanics. Thus, Axie Infinity emerged as a decentralized application (dApp) built on the Ethereum blockchain.

This unique cryptocurrency goes beyond conventional trading and investments. It revolves around a virtual world where players collect, breed, and battle creatures known as Axies. These adorable and fantastical beings are non-fungible tokens (NFTs) and serve as the centerpiece of the game.

On What Blockchain Does Axie Infinity (AXS) Operate?

Axie Infinity operates on the Ethereum blockchain, one of the most popular and widely used platforms for decentralized applications and smart contracts. The choice of Ethereum as its underlying blockchain brings several advantages, such as security, transparency, and a vast network of users and developers. However, it's essential to note that the Ethereum blockchain's scalability challenges have led to concerns about transaction fees and congestion on the network.

What Benefits Does Axie Infinity (AXS) Provide?

At its core, Axie Infinity aims to redefine the gaming industry and create economic opportunities for players. Here are five notable benefits of the AXS cryptocurrency:

  • Play to Earn:
    Axie Infinity pioneers the "play-to-earn" model, enabling players to earn cryptocurrency by participating in the game. Players can collect valuable resources and NFTs through gameplay, which can be traded on various platforms for AXS or other cryptocurrencies.
  • Decentralization:
    The game's decentralized nature empowers players to have true ownership of their Axies and in-game assets. Unlike traditional games where items are solely owned by the developer, Axie Infinity allows players to control their assets through blockchain-based ownership.
  • Community:
    The Axie Infinity community has grown exponentially, fostering a supportive and interactive environment. Players can connect with others, collaborate, and share strategies, contributing to a vibrant ecosystem that continues to expand.
  • Investment Potential:
    With the rising popularity of Axie Infinity, the value of AXS has shown impressive growth. As the community and adoption continue to grow, there is potential for long-term investment opportunities.
    For instance, since 2020 when the asset’s price was $0.65 it has grown to the $6.2 mark, which indicates 850% increase in value.

How to Buy Axie Infinity using the easiest way in Georgia? – Spot Exchange and Instant Convert

To acquire Axie Infinity, one can explore various crypto exchanges, which serve as the easiest and swiftest means of purchasing digital assets.

Cryptal, too, provides a streamlined experience where you can purchase AXS with just a few clicks. Prior to that, it's essential to complete a simple registration process, which grants you access to the Spot Exchange and Convert Now functionality. If you require guidance on how to navigate the registration process, our blog:

After going through the simple registration process, you can use two simple ways to buy Axie Infinity:

With the Instant Trade or Convert functionality, customers looking to buy or sell AXS can bypass the wait for a suitable counterparty to fulfil their request. This feature enables users to swiftly purchase or sell the desired amount of cryptocurrency directly from a crypto exchange at a fixed price. The transaction occurs instantaneously, and the acquired AXS or the proceeds from the sale are promptly transferred to the customer's digital wallet. This streamlined process eliminates the need for waiting and offers immediate access to Axie Infinity without relying on matching orders with other traders.

When you place a buy request for a specific amount of AXS on an exchange, it triggers a process where the exchange endeavors to match your request with a suitable counterparty. This involves connecting traders who are looking to buy with those who are willing to sell Axie Infinity. The exchange aims to ensure that your request is fulfilled within a predetermined price range, facilitating a seamless transaction between the two parties. This matchmaking mechanism helps create a liquid marketplace where buyers and sellers can efficiently trade AXS and ensure that orders are executed as efficiently as possible.

Spot Exchange is a better way if you are experienced trader or planning to acquire crypto on a regular basis.

Summary: Axie Infinity as the new source of passive income

Axie Infinity (AXS) has emerged as a revolutionary force in the world of cryptocurrencies, combining blockchain technology with innovative gameplay mechanics.

Since its creation, AXS has seen a large number of users and fans, which has led to an unprecedented increase in the price of the asset.