Axie Infinity price prediction: The battle for AXS momentum?

The Axie Infinity game isn’t the only one that’s getting a lot of attention: In 2021, the price of Axie Infinity Shards (AXS) surged from just over 50 cents in January to over $160 in November, a tenfold increase from the previous year.

Axie Infinity is a blockchain-based video game that allows players to earn cryptocurrency by battling characters known as “Axies” and trading them on the game’s non-fungible token (NFT) marketplace.

READ MORE: Is Axie Infinity Still Worth Playing?

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The game’s non-fungible token (NFT) marketplace allows players to trade their Axies for cryptocurrency. The tokens Smooth Love Potion (SLP) and Axe (AXS) are awarded to players who defeat their opponents in battle.

AXS is the rarest and most expensive of the two coins, and it has also witnessed a significant increase in value over the past year. When it comes to classic games, creators will constantly update their products in order to increase the number of players and keep current users satisfied.

However, Axie Infinity’s updates have been shown to be more valuable, since AXS has seen positive trends on a number of occasions following such upgrades. With the introduction of Origins, Axie Infinity’s next big update, the company has granted early access to its players ahead of the general public. The entire upgrade will be available at a later date. Could this be the beginning of AXS’s meteoric rise? According to the “Axie Infinity Shards (AXS) are an ERC-20 governance token for the Axie Universe,” according to the “Axie Infinity Shards – $AXS” white paper. Staking tokens, participating in the game, and voting in crucial governance decisions will all be eligible for incentives for AXS holders.

When players participate in different games inside the Axie Infinity Universe and participate in user-generated content projects, they will have the opportunity to earn $AXS. “improve the overall experience for both players and developers.” Prior to delving into what the crypto game token’s future may contain, let’s take a look at its past price performance. The first three months of 2021 were quite quiet in terms of the AXS price, with the token not rising much beyond the $2 threshold throughout this period. It was during the month of April when Axie Infinity switched from Ethereum to Ronin, an Ethereum-linked sidechain created particularly for Axie Infinity—think of it as a blockchain within a blockchain (see image below).

Since April, axies have been bred, purchased, and traded on Ronin’s marketplace. On the other hand, players may claim incentives earned through AXS games. If you thought the benchmark S&P 500’s total return of 29 percent in 2021 was amazing, it’s likely that you weren’t paying close enough attention to the cryptocurrency market. When the curtain fell, the total value of digital currencies had reached $2.2 trillion, representing a more than 185 percent increase in a single year! Bitcoin and cryptocurrency investors are clearly enthused about the financial and non-financial applications of blockchain technology. They’re also enthusiastic about the role blockchain technology could play in the metaverse, which is the next iteration of the internet and will allow users to interact in 3D virtual environments.

Axie Infinity has just generated more than $100 million in sales in just 30 days. What is it about the game that makes it so popular? If you had invested $1,000 in Axie Infinity Shards (AXS) at the time of the token’s introduction in November 2020, you would have earned 6,854 AXS in return. As I write this (on the 23rd of July), Axie has just surpassed its previous all-time high. According to CoinMarketCap statistics, at the current price of $31.35, those AXS are worth $214,873 — a whopping 21,000% increase over their original value.If you want to put that in context, 1 AXS cost $3.38 just two months ago. On July 15, the price reached a high of $29.13 before tumbling and closing the day at $23.96 a share. However, it has gotten back on track in the last several days. Play-to-earn gaming is a relatively recent concept in the gaming industry.

Player progress is represented by two separate in-game tokens: Axie Infinity Shards (AXS) and Smooth Love Potions (SLP). These tokens may either be spent in Axie land (also known as Lunacia) or traded for real-world money on decentralized exchanges. We’ve discovered a firm that has properly positioned itself as a long-term picks-and-shovels solution for the larger crypto market — including Bitcoin, Dogecoin, and all the other cryptocurrencies, among others. As a matter of fact, you’ve most likely utilized this company’s technology in the last few days, even if you haven’t had a customer account with them or ever heard of them before. That demonstrates how widespread it has gotten. If you sign up for Stock Advisor now, you’ll gain access to a unique report that will give you the inside scoop on this business and its potential as a long-term investment.

Learn more and sign up for a free trial now to take advantage of a new member discount. The axes themselves are non-transferable and non-fungible (NFTs). These digital treasures held by the players may be bred, purchased, and sold. The lowest priced Axie that is now available for purchase is roughly $200. Axie was also the most costly cryptocurrency ever traded, at 300 ETH (about $620,000 today). To participate in the game, you’ll need to purchase three axes using Ethereum (ETH). You’ll also need to be able to devote a significant amount of time to world-building. In recent months, Axie’s revenue has skyrocketed to dizzying heights. According to Token Terminal data, it is now the highest-earning cryptocurrency application by a wide margin.

The company earned $101.7 million in the last 30 days. To put this in context, the second-highest earner, PancakeSwap, brought in $10.9 million in revenue. That is rather remarkable. However, keep in mind that cryptocurrencies are not the same as equities. When you purchase stock, you become a shareholder in a firm and may be eligible to receive income in the form of dividends. When it comes to cryptocurrency ownership, it doesn’t operate that way — you own a coin, not a piece of the company. While it’s possible that the prices of AXS and SLP may continue to grow, it’s not a sure thing. Alternatively, if you participate in the game, Axie will distribute 95% of its money to you.In addition, you may sell the axes that you have bred in the game, as well as purchase and sell land.

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