Axie Infinity: at the junction of the gaming industry and the NFT market

 

In previous articles about cryptocurrencies, I have already confessed to the mistake I made, initially considering bitcoin to be an ordinary video game. Then I didn’t see the forest behind the trees, instead considering BTC tokens as useless coupons, similar to those that I won on slot machines as a child and then exchanged for all sorts of prizes.

In college, I abandoned my favorite Pong, Ms. Pac-Man and Asteroids. Then my children took over the baton, and the new games stunned with their graphics.

Those who took bitcoin and cryptocurrencies seriously earned millions (and even billions).

Now I am aware of the advantages of currencies that are traded outside of state control. Crypta is a fintech tool, and the blockchain itself is the evolution of finance.

We have not yet seen a full-scale response of world governments to a new threat for them, which is likely to intensify as the capitalization of the digital asset class grows. The “gaming” altcoin Axie Infinity (AXS) has also become one of the leading currencies.

Gamers are the backbone of the crypto market Audience

The success of cryptocurrencies is (at least in part) explained by the generational change. Young people are better versed in technology, they mastered all technological innovations as they grew up and grew up playing video games. Moreover, they started using social networks long before their parents, making platforms their main way of communication.

Gamers (or those who were them in their youth) are distinguished by a particularly deep level of acceptance of modern technologies. It is not surprising that young people aged 20-30 are open to the ideas of cryptocurrencies much more than their parents, grandparents.

The concept of an electronic wallet was alien to the “baby boomers”, while their children safely store tokens in cyberspace under password protection.

Having fun and earning with AXS

Pokémon is an incredibly successful video game series from Game Freak, published by Nintendo (T:7974). The word Pokémon itself is an abbreviation of Pocket Monsters, and the franchise (created by Satoshi Tajiri in 1996) includes a TV show of the same name, a card game, video games and toys.

Pokemon are special creatures that live in the wild or with their trainer. The task of the trainer is to catch and train Pokemon. Axie Infinity (AXS) is a game about Pokemon and cryptocurrency. The goal is for players to raise, exchange and put up for fights cute NFT pets called Axies.

Axies and virtual real estate can be sold on the in-game trading platform in the form of NFT tokens. The Axie Infinity website describes the protocol as a “digital nation” whose members can “fight, collect and earn.”

As of December 21, the total turnover of the AXS internal trading platform reached 3.6 billion dollars. The most expensive Axie ever sold cost $820,000, and the number of daily users is 2.8 million people.

the 28th line in the rating of cryptocurrencies

The success of Axie Infinity allowed the AXS token to join the “elite” of the digital market. As of December 23, AXS was the 28th currency out of the existing 15,897. At a price of $ 101.65 per token, the market capitalization exceeded $ 6.19 billion.

The combination of gaming activities, NFT and cryptocurrencies made AXS a unique token, and its rally turned out to be truly incredible.

The scale of the AXS rally

AXS debuted in November 2020 at 15 cents per token, and by December 31, 2020, the cost had reached almost 60 cents.

The chart shows the incredible success of AXS; on November 6, 2021, the token reached a peak of $ 160.36 and traded at more than $ 96 even after the correction of the entire market (when bitcoin and ether turned around from their November highs).

The issue of AXS is limited to 270 million tokens.

Prospects of the cryptocurrency market for 2022

AXS is unique in nature, but new specialized tokens appear on the market every day. AXS is an example of how successful new beginnings can be, since it has outpaced bitcoin, ether and many other tokens.

The percentage increase is too large to be calculated. However, having invested $ 100 in November 2010 at 15 cents per token, by November 21, 2021, the investor would have earned $ 106,900; as of December 21, 2021, the profit would exceed $ 64,000. The combination of cryptocurrencies and Pokemon turned out to be very successful.

However, it is worth remembering that the potential for incredible profits is adjacent to similar risks. Most of the 15,897 existing tokens are doomed to fail.

Remember that Pokémon is a popular brand that has gained popularity among children and young people; this is what underlies the incredible enrichment of the founders and sponsors of the platform. Many currencies are similar to AXS. Instead of blindly spending money, do a little research and figure out the essence of the product. Try to think like those kids who turn products like Pokémon into a gold mine.

AXS is located at the intersection of the gaming industry and the NFT market, and the protocol itself is compatible with the metaverse, which opens up the potential for further growth. However, investing in AXS or any other token involves a huge risk. Buyers should be fully aware of the risks of losing all invested capital.