Axie is a blockchain-based, fighting and trade game that is driven by famous games like Pokemon. Participants can gather, breed, grow, trade and combat token-based creatures known as Axies. What makes Axie different is that it is run and owned by the participants. As the network expands, players can own assets on the network and monetize them. With over a million daily users, many gamers have begun to perceive the game as a means of boosting their earnings. The Axie Infinity platform is linked to two cryptocurrencies: AXS and SLP (Small Love Potion). It’s the first time for games, NFTs and cryptocurrency to have been successfully combined. Owners of AXS, Axie Infinity’s native token, can use it to influence the platform’s evolution, like choosing how the finances are invested or how the ecosystem investment is awarded. AXS can be gained by playing games and participating in user-generated activities inside the network. AXS has a maximum supply of 270 million coins, with about 60 million in circulation now. It is now ranked among the top 25 cryptocurrencies in the world, with a value of $138 per token.
Entering the Market
During the COVID-19 lockdown in June 2021, CNBC reported that certain Filipinos were using the game as their primary source of income. In August, the Philippine Department of Finance explained that Axie Infinity revenue is taxable and that the SEC and BSP can consider the cryptocurrency as currencies or securities. The maximum number of gamers on Axie Infinity were from the Philippines as of September 2021. Sky Mavis funded $1.5 million in November 2019 to help accelerate the production of Axie Infinity. Mavis received $7.5 million in May 2021 as part of a financing deal that included Mark Cuban, who marketed the videogame as a cryptocurrency starter. A16z headed the round to raise $150M Series B at $3B valuation on Sky Mavis in October 2021.
Predictions For Axie Infinity
According to Wallet Investor, the price forecast for 2026 is $142.87. The revenue is estimated to be around +211.66% after a 5-year investment. According to GOV capital‘s study, Axie Infinity’s value may be affected slightly, but bulls will return, and the estimated cost could rise to $110 by 2025. As per the Reddit Community, a large number of projects could be finished by the end of the year, resulting in an all-around strong estimate of $72.00. According to Long Forecast, the price of Axie Infinity will rise marginally by 2024, to $80.38. The value of Axie Infinity (AXS) has risen dramatically in the last month. Will the AXS price spike as a result of the new developments? The AXS token rate is determined to reach a peak with other cryptocurrencies and is expected to experience a great rise due to its constant performance throughout the years. Axie Infinity will reach a point of stability, bringing generous rewards to its investors.