The Axie Infinity Shards (AXS) token is the native cryptocurrency of the Axie Infinity game and the wider Axie Infinity ecosystem. It was created by the game's developers, Sky Mavis, and is used as a utility token for various functions within the game.
AXS is used to purchase Axies, which are the in-game creatures that players collect, breed, and battle. It can also be used to purchase land in the game's virtual world and to participate in governance decisions related to the game's development and future direction.
In addition, AXS serves as an incentive for players who contribute to the game's ecosystem. Players can earn AXS by staking it in the game's pools, participating in governance, and other activities.
AXS is a ERC-20 token, which means that it is built on the Ethereum blockchain. As of March 2023, AXS has a market capitalization of over $10 billion USD, and it is one of the most valuable tokens in the gaming industry.