AXS crypto is about to continue making big moves. This Ethereum-based token runs the Axie Infinity blockchain-based NFT game. For those unfamiliar, Axie Infinity is a game where players buy, sell, market, raise and fight digital pets. Pets, of course, are known as “Axies”.
Before abandoning it as a passing trend, it’s worth noting that Axie’s NFT collection is one of the most expensive out there. It generated more than $ 42 million in sales in June 2021. And that number is rising rapidly. It’s also worth noting that when you invest that kind of money in a game, it’s likely that players won’t just leave.
While the game itself might not capture the imagination of players for years to come, it has a big boost. And things are starting to heat up. Note even the passing fashion of Farmville it lasted for years before it finally closed in 2020. And there are examples like big car thief V, which remains one of the most popular cross-platform games almost a decade after its release. That’s why AXS cryptography increases by more than 2,000% in a matter of months.
This type of price movement has caught the attention of investors for a good reason. And now that Coinbase has added it to its growing list of cryptocurrencies, we expect the value of AXS cryptography to continue to rise for a while.
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This is how AXS Crypto works
When I started mining Bitcoin, it was almost universally seen as a passing fad. Note that back then 10,000 bitcoins was the equivalent of two large pizzas. It operated outside the society of the time.
Since then, more than 400 obituaries of Bitcoin have been published. The media likes to minimize the impact it has had and will continue to have in the foreseeable future. And NFTs work in a similar way to the Bitcoin salad days.
You don’t have to look far to find news about the untimely death of NFTs. But just because they don’t get the same attention as a $ 69 million piece of art doesn’t mean they’re less popular … Even if some are pretty silly.
But Axies turns NFTs into a utility for escapism … And possibly for profit. And while gaming isn’t for everyone, that doesn’t make it a growing trend. More than a quarter of a million people log in to play daily. And, unlike most video games, this one rewards players with cryptocurrency. In some cases, a lot. Those who reproduce rare Axies, have sold up to 600 Ethereum. That comes to the current $ 190,000. This is obviously the exception and not the rule. But with numbers like that, it’s likely that Axie Infinity is still in its infancy. And that may be good news for investors in AXS cryptography.
Why AXS Crypto could be a good investment in the medium term
When Coinbase introduces a new testimonial to its list of offers, it has made some impressively fast gains. Take a look at what has happened recently with Alchemy Pay and Harvest Finance cryptography. Based on the momentum that AXS cryptography has had recently, it would not be at all surprising that the trading volume quickly sends the value of this testimony to the sky.
Because it drives a project with solid foundations and an impressive revenue stream, we expect AXS cryptography to continue its upward momentum for quite some time. But how long is the big question?
As it stands, Axie Infinity is more popular in developing countries like the Philippines and Venezuela. Its players usually treat it as a job … Because it actually makes up the majority of their income. Here you can check the current number of players.
If the game starts to gain strength in the United States, we expect the value of AXS cryptography to increase dramatically. But in the short term, it makes sense to watch how many players the game has. If competition and the cost of entry increase too quickly before they recover in places like Europe and the United States, the trend may not last too long.
But if it can keep players ’interest long enough as adoption becomes widespread, we expect AXS cryptography to continue to increase in value.
The end result in AXS Crypto
Loving or hating them, NFTs have a transformative impact on all kinds of industries. The game is just one of many. In the case of Axie Infinity, it helps bring games to a new generation of gamers around the world. And the AXS cryptography, which drives this company, has a lot of momentum behind it … Without too much resistance to frustrate future price increases.
That said, AXS cryptography remains a speculative asset. But there are some solid reasons to be optimistic about it. At least until Axie Infinity does something to alienate its base users or alienate its players.
Not convinced that it is a good investment for you? If you are still looking for your next investment opportunity, we recommend that you sign up Manward’s financial summary. It is led by cryptography expert Andy Snyder, who has helped countless investors learn more about the crypto markets and their financial futures in general. To get started, just enter your email address in the box below.
About Matthew Makowski
Matthew Makowski is a senior research analyst and writer at Investment U. He has been studying and writing about markets for twenty years. Equally comfortable, identifying stocks of value as he has discounts in the crypto markets, Matthew began mining Bitcoin in 2011 and has since perfected his focus on the entire cryptocurrency markets. He is a graduate of Rutgers University and lives in Colorado with his dog, Dorito.
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