TL;DR Breakdown
• AXS gains value among Non-Fungible Video Game Tokens.
• The new crypto is a priority for the Philippines and Indonesia.
Cryptocurrencies consistently increase in purchasing power as new technologies emerge from their adoption. This time comes the Axie Infinity token that corresponds to new crypto combined with online games. The token has reached a market capitalization of $2.5 billion since the pandemic began.
Axie Infinity, which was launched in November of last year, has risen by over 25000 percent in value. This has brought a lot of profit to investors who trusted the token.
New crypto avoids the May downtrend
To investors’ surprise, Axie Infinity was one of the few cryptos to avoid the May downtrend. The new crypto did not lose over 50 percent of its initial value, as Bitcoin or Ethereum. In fact, Axie Infinity reached its all-time high, being valued at $42.
Since May, the crypto market has had a significant reduction in activity, and the sales of tokens have sharpened. This happened due to the China regulations and the numerous regulatory agencies that have joined against crypto. Despite these attacks, the online gambling NFT has increased over 75 times its value in 2021.
The Giottus cryptocurrency exchange CEO, Vikram Subburaj, points out that the new crypto has more than half a million active subscribers. He even clarifies that most users come from countries like Indonesia and the Philippines.
He, however, suggests that Axie Infinity is not just a game or crypto but is a united community. The ecosystem that shares the game is fascinating, requires skill, and offers the most fun using new technology.
Millennials are drawn to new crypto due to its value and game quality. Axie Infinity, built on the Ethereum blockchain, is similar to Pokémon only that instead of storing worthless creatures, players would earn AXS tokens in several ways.
Axie Infinity Goals Surprise Millennials
To start the game, each person must buy AXS and turn the creatures available with the token. As the investment is minimal and promises long-term profits, many users were interested in the game since its launch.
According to experts, cryptocurrency games represent the technology future. Players will not only store NFTs but can also exchange them for fiat currencies.
Axie Infinity is the perfect example of a user spending their time in a fun game while also earning money. The video game can motivate other companies to create their digital network with Ethereum technology. However, the new crypto has growing problems that could eventually affect it. and the presence of competitors is expected in the near future.
