eToro Axie Infinity Trading
How to Trade AXS on eToro?
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Axie Infinity (AXS) is a cryptocurrency ecosystem and gaming network where players play to earn cryptocurrency. Through the platform. which was inspired by the universe of Pokémon, AXS and SLP — the native coins of Axie — can be earned through playing of various games within the Axie Infinity Universe and through user-generated content. The game's online assets, called Axies, can be collected, traded, breed, put to battle and mated to earn rewards.
With an average of more than 2,000,000,000 daily active players, Axie Infinity is one of today's most popular crypto gaming network. It is also credited with introducing the concepts of cryptocurrency to a wider population in an educational and fun manner.
For beginners; Axie Infinity starts with players needing to own at least three pet creatures called the Axies. These pets are non-fungible tokens (NFTs) with body parts representing different skills that are characterized by cards. The players in turn, use these cards to attack, defend and make their Axies stronger.
If you're interested in investing in Axie Infinity, the good news is that eToro provides this opportunity. Keep on reading to learn more about this cryptocurrency and how to trade it via this investment platform.
|🏷️ Crypto Name||Axie Infinity|
|💰 Minimum Investment||$10|
|⌚ Market Open||24/7|
Click the button below to be directed to eToro's Axie Infinity trading page. There you will see a demo and can quickly open an account if you want to proceed with live crypto trading.
78% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.
The NFT-based Axie Infinity was developed by Sky Mavis — a Vietnamese Studio co-founded by its CEO Trung Nguyen and COO Aleksander Larsen — and was first released in March 2018. It uses Ethereum-based cryptos, the Smooth Love Potion (SLP) and the Axie Infinity Shards (AXS).
In 2019, Sky Mavis raised a fund totaling $1.5 million. This allowed them to speed up development of Axie Infinity. In May 2021, it raised another $7.5 million with the help of Mark Cuban, Alexis Ohanian and other technology entrepreneurs. By 2021, as the game grew in popularity averaging more than 2 million daily active players, Sky Mavis entered unicorn territory by raising another $152 million in funding and a $3 billion valuation.
Before proceeding with this NFT-game, a player needs to create a team of three axies. Axie pets, which are equipped with skills, can cost between 0.1 ETH and 0.2 ETH. The Axies form the foundation of the game.
Since the Axies themselves are the game’s currencies, players can breed, train and strengthen creatures by upgrading their skills, to trade or sell them later, either for other cryptocurrencies or actual money. Because of the lucrative opportunity in this game, many gamers have turned gaming into a second job relying on earning the in-game tokens.
First, you need to download the game from its official website www.axieinfinity.com. As a player, you'll also need to create your own Ronin wallet or a digital wallet such as MetaMask. Afterwards, you will need to transfer ETH to Ronin using the Ronin bridge, so it will become a Wrapped ETH (WETH).
You can now use your WETH to buy Axies from the wallet to start playing the game.
The Axie Infinity (AXS) has a maximum supply of 270,000,000 tokens. Currently, around 69,800,000 token are in ciruclation and these can be bought directly from eToro.
If you don't have the deep pocket to purchase the game's three Axies, you can still participate in the game as a "Scholar". A "Scholarship System" was created to allow players to play for a "Manager" — an Axie investor. The manager and the scholar will then agree to specific terms and conditions such as percentage shares, daily quotas and payout schedules.
In short, the scholar earns a salary from the manager depending on how they perform in the game.
To invest on Axie Infinity via eToro, you need to open an account first and make your first deposit. You can then follow the steps below:
Contrary to what tech companies expected, this play-earn strategy has proven successful in the crypto market so far. Approximately 60 percent of the active users of Axie are from the Philippines.
While some pundits see this NFT-based game as a nonsense grind, they are missing the point of the vast future of decentralized gaming as compared to traditional gaming methods.
To a growing number of believers, Axie Infinity is laying the groundwork of crypto gaming. However, as robust is the future of Axie, investing on it should always be taken with due diligence and scrutiny of its ins and outs.
Axie is similar to Bitcoin and other assets in the market, since it signifies ownership of the whole community. Therefore, take time to learn about that community before diving in headfirst. To secure full rewards from any crypto asset community, active participation is essential.
Sign-up to see a live demo of eToro's Axie Infinity trading platform by clicking on the button below. This will take you to their online trading page where you'll be able to see what it's like.
eToro is a multi-asset platform which offers both investing in stocks and cryptoassets, as well as trading CFDs.
Please note that CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 78% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money.
Past performance is not an indication of future results. Trading history presented is less than 5 complete years and may not suffice as basis for investment decision.
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