Hamaxes

A Hamaxe works both as an Axe and a Hammer. Hamaxes are notably practical tools as they save an Inventory slot one would normally need for an additional hammer or axe.
There are currently eigth hamaxes in the game, seven of which are craftable and one of which is obtained via a Boss fight.

Trivia

 * Hamaxe is a portmanteau of Hammer and Axe.