Axie Infinity is a new addition to the gaming world, combining cryptocurrencies with the gaming experience. Players compete in a sort of digital community of creatures, called Axies, that can be used to fight, explore, and spawn with other Axies.
At the same time, an Axie is an NFT (non-fungible token), which is an irreplaceable asset that can be tracked on the blockchain. When you buy an NFT, in fact, you acquire the irrevocable right of ownership over the asset associated with that particular NFT. An Axie is therefore a unique creature, and even if someone were to copy your Axie’s data, they would not be able to replicate its identifier, which only you possess.
Furthermore, the world of Axie Infinity revolves around AXS tokens, cryptocurrencies founded on Ethereum, which have a cap of 270,000,000 units. The ownership of AXS coins, grants buyers administrative and decision-making rights over the future of the video game and, consequently, over that of the economic market associated with the Axie Infinity universe.
It is possible to earn money within the video game by finding AXS coins (Axie Infinity) by completing challenges in the game itself, by obtaining them through the sale of one’s own creatures (Axie), or by purchasing them on a digital asset trading platform such as eToro.
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Benefits and Risks
Here are some of the advantages of investing in AXS coins.
- Evolution: the Axie Infinity community is very active, the game is constantly evolving and updates are frequent.
- Metaverse and NFTs: there is a growing interest in the metaverse and NFTs, both of which are fundamental to the functioning of the Axie Infinity ecosystem.
- Decentralized universe: the decentralization of the Axie Infinity universe has made it accessible and interesting in the eyes of the general public; for this reason, it might be wise to keep an open eye, with due care.
As far as risks are concerned, like any form of investment, Axie Infinity is not exempt from limitations and weaknesses.
- High risk: the Axie Infinity market is constantly changing, and although it is a very interesting phenomenon, it is a relatively unpredictable investment.
- Competition: it is possible that over time new competitors could step in and steal Axie Infinity’s place.
- Community: the value of Axie Infinity is closely linked to the community of active players. If the value of the coins were to decrease significantly, participating in the game could become unprofitable, thus leading the community to move away and the value of the coins to decrease further.
Where and How to Buy Axie Infinity
Axie Infinity is finally available on all major exchange platforms and online brokers. In particular, it is possible to lean on eToro to buy the token safely…
eToro is a CySEC regulated online broker, which recently celebrated the milestone of 20 million registered users, and is characterized by its ease of use and its wide variety of available tools, as well as its security and reliability.
How to Register with eToro
Registration is completely free. To register you need to access the official site eToro, click on Sign up now and run the wizard. You will then have to enter the required data, including username, email address and password. Once verified the identity and made an initial deposit, you can immediately start using the platform.
As mentioned, to start trading on the platform you will need to make a minimum initial deposit or more depending on how much you wish to invest. Click on Deposit funds and follow the deposit procedure, selecting the payment method you prefer between credit or debit card, PayPal, bank transfer or others.
How to buy AXS
To buy Axie Infinity on eToro you will simply need to click on type AXS in the search bar at the top of the page. Once you have selected the AXS cryptocurrency, you will be able to click on Invest. In just a few clicks you will be able to take possession of the token.
After you’ve completed the transaction, you’ll find the purchased asset within your Wallet. By selecting it, you will be able to view your transactions.
Fees and commissions
Registration with eToro is completely free. As for the transactions on the platform, there is a commission on the purchase determined by the spread value, indicated in the table of commissions on the official website of eToro (currently 2.9% for AXS).