Axie Infinity is a Pokemon-inspired ‘play to earn’ game that was created on the Ethereum blockchain where users gather, grow, breed, and battle digital creatures known as ‘Axies.’
Axie Infinity Shards (AXS) and Small Love Potion (SLP) are the two in-game currencies. These are important to the Axie Infinity universe. Crypto investors can trade them (SLP). Breeding and selling Axies on the platform’s marketplace can also be profitable.
On the other hand, before investing in the AXS and SLP tokens, investors need to gain a deeper understanding of how the game operates.
How does Axie Infinity (AXS) Operate?
The cryptocurrency Axie Infinity owns currencies, economy, land, and species. Axies are creatures that can be reared, bred, and sold to gain AXS. Each Axie is a non-fungible token (NFT), and the rarity of its features determines its market price.
What exactly is Axie Infinity (AXS), and how does it function?
Blocking Parent Axies can complete raising an offspring in a specific appearance. The most expensive Axie was 300 ether (ETH), or around $1.39 million. This is based on the current ETH price of around $4,640 on November 13th, according to the firm.
In Axie Infinity, land is tokenized and can be easily exchanged between players. According to the whitepaper of Axie Infinity, landowners may discover Axie Infinity (AXS) tokens on their plots and will have first access to any resources that sprout on their land. In other words, Axie Infinity is a game in which Axies are bred and a land is constructed. Axie Infinity is unique in that it allows players to “play-to-earn” by exchanging their pets on the marketplace and selling AXS on cryptocurrency exchanges.
AXS 2021 News and Performance
AXS has increased by almost 41,900% in the last year, according to CoinMarketCap. On November 6, 2021, the token reached an all-time high of $165.37.
In comparison to other well-known cryptocurrencies, bitcoin and ether have recovered over 300 percent and over 900 percent in the last 12 months, correspondingly.
AXS coins have gained over 24% in the last 30 days on the strength of a broader cryptocurrency rise and hype around the metaverse following Facebook’s rebranding as ‘Meta Platforms.’
According to CoinMarketCap, the SLP token has grown to 43 percent in the last year. It is presently trading at $0.0713 on 13th of November, having reached a continuous growth of $0.4191 on 1st of May 2021.
As of November 13, AXS is the 25th most valuable cryptocurrency. It has a market capitalization of roughly $8.7 billion and a monetary worth of about $147.
Discussion of Cryptocurrency and NFT Analyst
In the year 2021, there have been several significant advances in the bitcoin field. The introduction of bitcoin by El Salvador in Central America and the legalization of bitcoin exchange traded funds (ETFs) in the United States have boosted investor and speculator confidence in the digital asset industry.
In the same year, a lot of brokerages and investment organizations began researching cryptocurrencies and other digital assets.
With cryptocurrencies becoming more mainstream, investment company Jefferies said in its latest weekly note that it remains as fundamentally bullish on the crypto market as ever.
According to JP Morgan Chase, a US-based bank, following the outbreak, digital assets have emerged as a clear winner. With average investors joining institutional investors like as family offices, hedge funds, and real money asset managers in growing the asset class. In its first cryptocurrency coverage, BofA Global Research stated that the digital asset universe is too enormous to ignore. With a $2 trillion+ market value and 200 million+ users. Crypto-based digital assets, we believe, have the potential to create an altogether new asset class.
As per the market analyst at Capital.com, Mikhail Karkhalev, blockchain-based gaming companies such as Axie Infinity may have a bright future.
2021-2025 AXS Price Forecast
On 13th of November, price prediction of Wallet Investor’s Axie Infinity (AXS) coin may rise by more than 1,100% to around $1,809 in five years. AXS, according to the algorithm-based forecasting service, might be an excellent long-term investment. The coin’s average price might reach $202.60 as per its Axie Infinity (AXS/USD) estimate. These are by the end of 2021 and $1,526.48 by the end of December 2025.
When looking for AXS price projections, keep in mind that forecasts can be inaccurate. Axie Infinity algorithm-based projections are based on a basic and technical analysis of the crypto performance. Previous performance, nevertheless, is no guarantee of future outcomes.
Keep in mind that your risk tolerance influences your decision to trade, market knowledge, the diversification of your investment portfolio. Also, your level of comfort with losing money is why it is crucial to conduct your own research. Never put money into something that you are not ready to lose.