Axie Infinity token (AXS) has had an uptick in network activity this month. Ecosystem developments and upgrades are the main contributors to the same activity.
Will the AXS token price go up? The following sections will explore the coin’s performance in recent weeks and ecosystem developments that will impact the coin’s price.
Axie Infinity is an NFT-based online game developed by Sky Mavis. The game led the play to earn blockchain game wave in 2021 alongside games like crypto kitties. AXS is the game’s native token. More games have since emerged, stealing their market share.
The game envisions a future where players can own and share 95% of their in-game spending and accessories.
Axie core update
AXS transaction volume spiked 1,061% to hit $10.5M on December 5, 2022, as the gaming project revealed “Axie Core.” The spike included the value of all Dapp transactions for Axie Infinity.
Axie core is an aspect of the game designed to enable experiences that allow players to upgrade the collectability and personality of their Axies.
Aspects of Axie core include accessories, upgradeable parts, an immersive breeding interface, a downloadable avatar, and Axie raising to include petting and feeding.
Axie Core also introduces part upgrades. For instance, mystic parts will have unique art for their upgraded paths to further differentiate them.
All the related aspects, such as accessories and parts, can be traded as NFTs, with other players introducing a new lever to catalyze the in-game economy and reduce reliance on power boosts.
Axie Core will begin rolling out various upgrades by the end of 2022. Following the announcement, the price of AXS tokens has been up 20% since the beginning of the month.
Axie Infinity’s latest developments
Axie Infinity season 2 is upon us, and Axie’s Twitter feed has been hot on new changes expected in the season.
The tweets mentioned that season 2 would entail four stages. Stage 1 for core mechanics, stage 2 game updates, stage 3 community testing, and finally, the launch at stage 4.
The developers will introduce new mechanics throughout the season, such as tweaks to the core mechanics. Besides these changes, players can expect numerous updates to cards, runes, and charms that will see implementation.
The ecosystem’s latest update is the integration of the Ronin wallet in Collab land. Collab land is a ‘token-gaiting’ invention comprised of an automated bot that verifies NFT and token holdings.
The bot enables the community to pick roles and grant permissions based on their ownership in Discord. It also enabled a tiered access level to different levels and served as an excellent tool for onboarding new players.
The bot’s integration with the Ronin network verifies asset ownership on the Ronin wallet. The integration will add a new layer of safety, community, and exclusive experiences.
Axie Infinity ecosystem developments have mostly been on the game’s user interface and gameplay. The crypto winter was hard on AXS, and it has so far dropped by 90% from the year’s high of $97.7.
Through chart price analysis, we can deduce dropping price momentum from the MACD histogram; the MACD line has broken above the signal line, suggesting prices will rise higher. The Relative Strength Index shows the coin retreating from the overbought region, with plenty of room for price movement downward.
The coin stats suggest a positive market sentiment from the ecosystem’s recent developments and anticipation of new upgrades. The market’s recovery from the year’s bear run will likely push prices higher as we cross into 2023.
Also, read AXS price prediction 2023 – 2031.