Axie Infinity price today is 9$ with a 24hour trading volume of 300 million dollars. AXS price is up 20% in the last 24 hours and 60% up since last two weeks
It was one of the most prominent play2earn cryptos to emerge during the metaverse boom, but what is axie infinity ?
One of the most notable crypto-related trends to hit headlines in 2021 was that of The Metaverse. While the idea that people could enter an online world and interact with other people via their computer-generated avatars had been around since the virtual reality craze of the early 1990s at least, it was in 2021 that the concept really started to take over.People linked up their online spaces with non-fungible tokens (NFTs), the rights to individual pieces of digital art, and despite the fact that metaverse-related coins and tokens seem to have borne the brunt of 2022’s bearish crypto market, they are still a notable sector of the crypto world.
One sector of the metaverse takes the idea that people can buy and sell NFTs to another level. There are some games on the blockchain that allow people to utilise their in-game NFTs to take part in things like battles and challenges, getting the chance to earn both NFTs and regular cryptocurrency tokens in the process.Since the various kinds of tokens can be traded for a theoretical profit, that means that these games can, again theoretically, make people a profit. This particular sector of games are called, appropriately, play-to-earn, or p2e for short.
One of the most prominent play-to-earn games is Axie Infinity. This game was created by Vietnamese company Sky Mavis and allows participants to compete by battling to collect individual cards representing cartoon monsters. These creatures, called Axies, fight each other, with the winner getting rewards.these rewards take the form of the two native tokens of the Axie Infinity game, axie infinity shards (AXS), more commonly known as axie infinity, and small love potion (SLP). AXS is the rarer crypto, and therefore it is more valuable. The cards are all individual NFTs, and they can be bought, sold and traded on the game’s marketplace.
AXS is the governance token for the Axie Infinity game. Token holders will be able to shape and vote for the direction of the game universe. This is unlike traditional games where all decisions are made by the game developers. AXS holders will be able to stake their tokens to earn more AXS and even vote for governance proposals.
There is one particular issue that we need to address. Axie Infinity first made headlines in 2020, when it was reported that an unspecified number of people in the Philippines were supplementing their incomes by playing Axie Infinity. This was all well and good, but the truth was that the piece in question was written by the director of a consulting firm who represented play-to-earn games, including those by Sky Mavis investor Animoca Brands, in the Asia Pacific region.
Also, the one person named as making money from playing the game’s social media presence appears to be a Twitter feed that started just after the original article was released – which was before AXS was widely traded – and has not been updated since January 2021. That might suggest that the reports may not have been as accurate as some people, keen to display their enthusiasm for crypto as a harbinger of a new industrial revolution, believed, having quite possibly fallen for an unverified, glorified press release.Even when the ever-changing crypto world moved on, there were still hold-outs who took the piece at face value, giving AXS a prominence it may not have deserved.
One other thing to point out is that the Axie Infinity game’s blockchain, Ronin (RON), fell victim to the largest crypto hack in history in April 2022, when hackers took control of the network and transferred more than $600m worth of crypto into a wallet.
It was one of the most prominent play2earn cryptos to emerge during the metaverse boom, but what is axie infinity ?
One of the most notable crypto-related trends to hit headlines in 2021 was that of The Metaverse. While the idea that people could enter an online world and interact with other people via their computer-generated avatars had been around since the virtual reality craze of the early 1990s at least, it was in 2021 that the concept really started to take over.People linked up their online spaces with non-fungible tokens (NFTs), the rights to individual pieces of digital art, and despite the fact that metaverse-related coins and tokens seem to have borne the brunt of 2022’s bearish crypto market, they are still a notable sector of the crypto world.
One sector of the metaverse takes the idea that people can buy and sell NFTs to another level. There are some games on the blockchain that allow people to utilise their in-game NFTs to take part in things like battles and challenges, getting the chance to earn both NFTs and regular cryptocurrency tokens in the process.Since the various kinds of tokens can be traded for a theoretical profit, that means that these games can, again theoretically, make people a profit. This particular sector of games are called, appropriately, play-to-earn, or p2e for short.
One of the most prominent play-to-earn games is Axie Infinity. This game was created by Vietnamese company Sky Mavis and allows participants to compete by battling to collect individual cards representing cartoon monsters. These creatures, called Axies, fight each other, with the winner getting rewards.these rewards take the form of the two native tokens of the Axie Infinity game, axie infinity shards (AXS), more commonly known as axie infinity, and small love potion (SLP). AXS is the rarer crypto, and therefore it is more valuable. The cards are all individual NFTs, and they can be bought, sold and traded on the game’s marketplace.
AXS is the governance token for the Axie Infinity game. Token holders will be able to shape and vote for the direction of the game universe. This is unlike traditional games where all decisions are made by the game developers. AXS holders will be able to stake their tokens to earn more AXS and even vote for governance proposals.
There is one particular issue that we need to address. Axie Infinity first made headlines in 2020, when it was reported that an unspecified number of people in the Philippines were supplementing their incomes by playing Axie Infinity. This was all well and good, but the truth was that the piece in question was written by the director of a consulting firm who represented play-to-earn games, including those by Sky Mavis investor Animoca Brands, in the Asia Pacific region.
Also, the one person named as making money from playing the game’s social media presence appears to be a Twitter feed that started just after the original article was released – which was before AXS was widely traded – and has not been updated since January 2021. That might suggest that the reports may not have been as accurate as some people, keen to display their enthusiasm for crypto as a harbinger of a new industrial revolution, believed, having quite possibly fallen for an unverified, glorified press release.Even when the ever-changing crypto world moved on, there were still hold-outs who took the piece at face value, giving AXS a prominence it may not have deserved.
One other thing to point out is that the Axie Infinity game’s blockchain, Ronin (RON), fell victim to the largest crypto hack in history in April 2022, when hackers took control of the network and transferred more than $600m worth of crypto into a wallet.
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if AXS breaks the down trend next targets are 9.5, 10.5, 11 and 11.5$
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we hit all targets ✅
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1h tf
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the current daily active users of Web3 games are about 800,000; Axie's daily active users have dropped from the peak of millions to only 9,000; Stepn has dropped from the highest daily active users of 110,000 to the current 4,000; Illuvium has only a few hundred daily active users
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Apple allows crypto game Axie Infinity on the App Store
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as a AXS whale we had crazy short
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