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Axie Infinity (AXS) Available Now on iTrustCapital

By iTrustCapitalJanuary 28, 20222 minutes read
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Understanding Axie Infinity (AXS)

We are pleased to announce the addition of Axie Infinity Shards (AXS) to the iTrustCapital platform.

Start buying and selling AXS in your Crypto IRA now! Read more on AXS below:

What is Axie Infinity?

Axie Infinity is, first and foremost, a game universe. The project was created by Sky Mavis, a tech-focused game studio founded in 2018 out of Vietnam. The game exists on the Ethereum blockchain.

The game consists of players collecting Axies, cute little monsters that function as battling pets. Players can use their Axies to battle other players, breed new Axies, and traverse the game universe. 

The game has a player-owned economy that is integrated with blockchain technology. According to Sky Mavis’s whitepaper, “players can truly own, buy, sell, and trade resources they earn in the game through skilled gameplay and contributions to the ecosystem.” The Axie universe is intended to be a living and growing universe of players who are actively evolving the space.

Axies aren’t the only things for sale in the game. Players can buy and sell virtual land, build on the land, and even create their own games inside their plot of the Axie universe.

How Does Axie Infinity Work?

Axie Infinity has a fully player-owned, real money economy. This means that, instead of selling game items or copies of the game, Sky Mavis focuses on growing the player to player economy. Marketplace fees go into what is known as the “Community Treasury”. This treasury’s usage is meant to be guided by holders of a governance token developed specifically for Axie Infinity.

About AXS

This brings us to AXS, or Axie Infinity Shards. AXS is an ERC20 governance token, and serves as a currency that gives holders a vote in the future of Axie Infinity’s development. The developers, Sky Mavis, monetize the game through their ownership of about 20% of the distributed AXS tokens. 

In Summary

  1. Axie Infinity is a game that exists on the Ethereum blockchain.

  2. There is a token worth real money associated with the game called Axie Infinity Shards, or AXS.

  3. This token is used by holders to govern Axie Infinity’s future, and is how the developer makes money.

  4. You can self-trade AXS tax-free* in your iTrustCapital Dashboard Now. 

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*Some taxes and conditions may apply.

DISCLAIMER: This article is for information purposes only.  It does not constitute investment advice in any way. It does not constitute an offer to sell or a solicitation of an offer to buy or sell any cryptocurrency or security or to participate in any trading strategy.  

iTrust Capital, Inc. is not an exchange, funding portal, custodian, trust company, licensed broker, dealer, broker-dealer, investment advisor, investment manager, or adviser in the United States or elsewhere. iTrust Capital, Inc. is not associated with and has no direct relationship with Axie Infinity (AXS). iTrust Capital, Inc. is not affiliated with and does not endorse any particular cryptocurrency, precious metal, or investment strategy.  

Cryptocurrencies are a speculative investment with risk of loss. Precious metals are a speculative investment with risk of loss. Cryptocurrency is not legal tender backed by the United States government, nor is it subject to Federal Deposit Insurance Corporation (“FDIC”) insurance or protections. Clients do not receive a choice of custody partner. The self-directed purchase and sale of cryptocurrency through a cryptocurrency IRA have not been endorsed by the IRS or any regulatory agency. Historical performance is no guarantee of future results.  

Some taxes and conditions may apply depending on the type of IRA account. ​​Investors assume the risk of all purchase and sale decisions. iTrust Capital, Inc. makes no guarantee or representation regarding investors’ ability to profit from any transaction or the tax implications of any transaction. iTrust Capital, Inc. does not provide legal, investment or tax advice. Consult a qualified legal, investment, or tax professional. 

iTrust Capital, Inc. makes no representation or warranty as to the accuracy or completeness of this information and shall not have any liability for any representations (expressed or implied) or omissions from the information contained herein. iTrust Capital, Inc. disclaims any and all liability to any party for any direct, indirect, implied, punitive, special, incidental or other consequential damages arising directly or indirectly from any use of this information, which is provided as is, without warranties.

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