Axe as it appeared in the beta
The Axe is a weapon in 560, in the pre-alpha version of Daikatana which is an early version of the game in 1997.
The Axe looks like a axe in era 560's style.
It's a basic melee weapon; if one hits at close range the Axe will do damage, if it's not at close range, then the Axe won't do any damage.
It appears the Axe was replaced by the Silverclaw weapon, as the former does not appear in the final game after that.