TL;DR Breakdown
• The Axie Infinity token increased in value to $17.
• The cryptocurrency rose 400 percent in the first half of 2021 alone.
The video game and token Axie Infinity has marked a milestone in its value, giving much to talk about. Although initially, the cryptocurrency showed a bubble in its price, it still maintains its rise in the market. The token surpassed 400 percent of its value in July.
For Axie Infinity, investors who supported the token earlier this year are making huge profits today. About $1000 invested in the token in January could be expanded to $27000 today. The crypto rise has made its popularity take off; it could even be considered a favorite presently.
What is the Axie Infinity protocol?
For video games and cryptocurrencies fans, Axie Infinity was made, inspired by Pokémon Go. In this game, the users will store, fight and trade the “Axies” with other players. These in-game-only mythological creatures are NFTs that can be purchased or created online.
The game is trending online because players can store cryptocurrencies. One of the biggest receivers of the video game has been the Philippines, where young people and adults enjoy it from their mobiles.
However, to start the game, users need investment to buy NFT creatures. Each “Axie” equals about $200, and the user must have at least three creatures.
But users can request a beta in the game to start it and pay the debt in tractions. In this way, Axie Infinity has good reception, and according to the users’ opinions, it has brought many profits.
The game’s growth has been undeniable as its token went from worth $0.18 to $1 in January. By April, the crypto exceeded $10 per token, but its price drop in June, like other cryptocurrencies. The token now is trading at $17.
Does Axie Infinity have a future?
Opinions on Axie Infinity often vary because it is a token on the rise but with questionable success. You can see more reception in the video game since its increase, but this attracts more significant investment. The game developers seem to neglect their growth which would attract problems for investors.
But there is also the initial cost so the investor can enter the video game. Many people would not risk investing $600 or even more for a game that could disappoint them. This is also added because the backup cryptocurrency is volatile and could lose all its prices overnight.
People interested in the game can play it, but they do not need money at the moment. It is a form of investment that has no guarantees, so the user should play it safe. A slight increase in popularity could be seen in the video game and token in a short period.
