Easy way to Buy 
Axie Infinity(AXS) Online with Wigwam crypto app
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How to buy and hold AXS with Wigwam
1. Choose a token number that you want to buy
2. Create a wallet, where to store your crypto
3. Pay with credit card
4. Check your crypto in the created wallet
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Axie Infinity (AXS) token review
Axie Infinity (AXS) is the utility token of the Axie Infinity, a play-to-earn game built on the Ethereum network that combines elements of Pokémon, CryptoKitties, and card games. AXS is utilized for governance votes and to decide the usage of the community treasury. The project strives to synchronize incentives among players and the game, ultimately aiming to decentralize ownership and governance of Axie Infinity.
About AXS
Axie Infinity allows users to breed and raise virtual adorable 3D pets known as Axies, users can go into battle and collect them. The project became the world’s most-played play-to-earn blockchain game in 2021. The game utilizes Non-Fungible Tokens (NFTs) to represent the game characters, which players can own, trade, and customize within the game's metaverse.
It also has a play-to-earn mechanism where players earn Smooth Love Potion(SLP) tokens and choose between breeding new Axies using SLP or trading that for other cryptocurrencies.
AXS use cases
The Axie Infinity (AXS) token has the following use cases in its ecosystem:
Governance: The tokens play a crucial role in the Axie Infinity, as it is the governance token of the game. AXS token holders can participate in voting and influence the key decisions such as spending of treasury funds and features to prioritize in the development roadmap.
Breeding new Axies: The tokens are primarily used for breeding new Axies as players can combine different Axies to create new ones.
Staking: AXS token holders can lock up their tokens in the staking pool and earn a portion of the AXS inflation.
Purchasing within the game: Holding AXS tokens allows users to participate in the future sales of Axies, land, and many more items within the game’s ecosystem.
Rewards: AXS tokens are also utilized to reward top players for participating in the game.
Economic value
AXS tokens have a circulating supply of 137.18M coins, with a maximum supply of 270.00M AXS. The tokens minted as gameplay rewards and its distribution mechanism utilizes this to encourage active participation in the game’s economy. The token’s burn rate is dynamically managed based on the game's performance and the developers' observations of the market.
Challenges
The AXS tokens are facing many challenges as listed down below:
Sharp decline: The token has been facing a sharp decline in its price due to decreased active users and tough competition from other blockchain-based games and NFTs.
Axie Infinity Game: AXS token depends on the development, adoption, and popularity of the Axie Infinity game. The game has potential risks such as security breaches, market volatility, and tough competition from popular games.
Ethereum’s Scalability: As AXS is an ERC-20 token, it has inherited Ethereum’s scalability issues which can affect the smooth operation of the game and potentially the stability of the AXS token. Playing Axie Infinity is also expensive as it requires paying high ETH gas fees.
Token’s Long-Term Potential: Some investors in the past have expressed their concerns
Disclaimer
This article is for informational purposes only and should not be interpreted as financial or investment advice. The views expressed herein represent solely the opinion of the author and are not intended to provide specific trading or investment recommendations. We do not guarantee the accuracy, completeness, or reliability of the information contained in this article. The cryptocurrency market is known for its high volatility and unpredictable fluctuations. Investors, traders, and anyone engaging with cryptocurrency are advised to conduct thorough research, consider a variety of perspectives, and acquaint themselves with applicable local regulations prior to making any investment decisions.
FAQ
You can buy AXS tokens on Wigwam ERC-20 wallet or from centralized exchanges such as Coinbase, Cex.IO, and Binance.
Yes, you can stake AXS in the Axie Infinity’s staking pool and earn rewards.
You can view it by visiting Etherscan and entering your wallet address in the search bar.
The steps specifics might vary based on the wallet you are using, but the general steps to add AXS tokens will be as follows:
Open your crypto wallet, click on the option of “Add tokens”, and then enter the AXS token details as follows
- Token Contract Address: 0xbb0e17ef65f82ab018d8edd776e8dd940327b28b
- Token Symbol: AXS
- Decimal Precision: With 18 Decimals
After entering the token details click on “Save” to add the AXS token to your wallet.
There are many risks of buying AXS as it is a cryptocurrency and there is always a risk of hacking, and fraud, resulting in loss of funds. Additionally, cryptocurrencies come with a high risk of the crypto market and price volatility. It's essential to thoroughly investigate before buying AXS or any cryptocurrency.
