What is Axie Infinity?
Axie Infinity was released in 2018 by Vietnamese creator Sky Mavis. Axie Infinity became the most popular Ethereum blockchain token app in the summer of 2021, with over 1 million daily players as of August 2021.
The game Axie Infinity centers on creating, raising, and battling Axis, which are small creatures. In-game marketplace NFTs are used to sell axes and virtual real estate. Most transactions take place on the Ronin sidechain, which developer Sky Mavis constructed to have lower fees than the main Ethereum blockchain.
AXS Token
The Axie Infinity Shards (AXS) is the governing token representing all Axie community members. You may get rewarded by AXS holders if you stake your currency, enjoy the game, and partake in crucial governance votes. Moreover, while engaging in the metaverse or via user-generated creative activities, players may earn $AXS.
Staking
Players will be able to lock their tokens to get newly generated AXS. Stakers will be forced to vote and play to claim prizes.
Payment
The Axie team will recognize AXS as money in their NFT marketplaces. You use AXS in specific sales/auctions organized by the Axie team to determine eligibility for participation.
Governance
The Community Treasury started receiving income from Axie Infinity and a portion of staking rewards in early 2021. Once the network has become sufficiently decentralized, AXS stakers will take control of this treasury.
How to Use the Token?
To use the AXS, you’ll require an Ethereum-based crypto wallet and some ETH. You may send ETH to Coinbase Wallet (download it via Apple’s App Store or Google Play) or Metamask.
- You must purchase at least three Axis from the game’s market before you can begin playing. The Axis, virtual real estate, and other items that users sell each other are subject to a 4.25% cut by Sky Mavis.
- In addition, players may “breed” new Axis, which costs Axie Infinity Shards (AXS) and Little Love Potion (SLP), two of the game’s native cryptocurrencies.
- By defeating other players and completing missions, you may earn SLP.
Axie Infinity (AXS) has a price of $17.40 and a 24-hour trading volume of $123,895,754, according to CoinGecko. In the last 24 hours, AXS, on the other hand, has fallen by around 2.5%. In addition, AXS has a total of 87,802,368 AXS in circulation.
Is AXS a Good Investment?
The Axie Infinity price is presently in a bearish trend from a technical standpoint. Over the previous six months, the digital asset has been making lower lows and lower highs, indicating that sellers are in charge of the market.
Axie Infinity is a poor long-term investment, according to Wallet Investor. They believe that in December 2023, one Axie will cost $4.24, and by December 2025, it will slowly fall below $4.24. They expect Axie Infinity’s price to stay the same throughout their estimated development period.
In contrast to Wallet Investor, Bitcoin Digitalprice has a more positive outlook for Axie Infinity. According to the company, one Axie might be worth $29.06 by December 2025, which is a 51 percent increase from its current value. In April of the same year, Axie Infinity’s price is expected to drop to $23.38. Axie Infinity should finish the year at $23.91 after there will be several peaks and troughs.
The prospects for Axie Infinity AXS are bright, and the costs will likely increase in the years ahead. AXS’s failure in 2022 is reflective of the metaverse as a whole, as one of the most popular and play-to-earn online games. If you want to invest in Axie Infinity AXS, you’ll have to do your investigation, never invest more than you can afford to lose, and keep in mind that prices may go down as well as up.
