Gaming is one such platform that attracts most individuals. Moreover, the blockchain gaming industry is flourishing in recent times. Axie Infinity has strengthened its roots in this industry which aims to become the flag-bearer of the emerging play-to-earn(P2E) concept. The users partially own and operate this battling and trading game.
Axie has its governance token called the Axie Infinity Shards(AXS) which is used to participate in key governance votes. This NFT token has now become one of the most popular assets in the world NFT with a gigantic rally of more than 40,000% since the beginning of 2021. And despite the bearish reversal, yet the AXS price tends to hit the upper resistance shortly.
What Is Axie Infinity?
Axie Infinity is a crypto-meets-Pokemon game wherein the players rise, battle, and trade NFT pets called Axies. These Axies are further sold through an in-game marketplace. The Ethereum-based gaming network is inspired by Tamagotchi along with Pokemon to create unique game-in assets.
Axie Infinity was founded by Trung Nguyen who is also the current CEO of a Vietnamese gaming studio, Sky Mavis. The players on the network receive mainly 2 different tokens, Axie Infinity Shards(AXS) and Small Love Portions(SLP) by playing the game in different modes. AXS is a governance token whereas the SLP token is used to breed Axies.
How Does Axie Infinity Work?
Axie Infinity is a core gaming platform that focuses on battling and breeding Axies. The working model depends on a set of characteristics that determines the uniqueness of each Axies.
The effectiveness of the Axies in the battle is determined by the main 4 characteristics, Health signifying the number of damage the Axies can withstand, Speed which signifies the fastest Axie attacking first, Skills pointing multiple ability and Morale that determines the Axie’s ability to knock out.
The players face each other in a team of 3 using multiple strategies to secure their position on the leaderboard.
Here the Axies can create their new off-springs with their characteristics and capabilities. One Axies is capable of breeding nearly 7 times. New Axies can perform on the battleground after 5 days of development.
Axie Infinity is not limited to just playing the battleground but also allows the players to purchase plots of land called Lunacias which may serve homes for the Axies
Axie marketplace is the best-suited place to find and access Axies that are available for sale. Players can purchase Axies through the Ronin wallet which is built for the Axie Infinity platform. People can fund their ETH here and purchase AXS.
Will AXS Price Hit $500 in 2021?
AXS price had a magnificent start of the year 2021 of more than 44,000% jump and despite a plunge yet the levels are 30,000% above the levels during the beginning of 2021. The price after manifesting extreme strength throughout Q1, Q2 and Q3, had little trembled in Q4. However, the asset appears to have reversed the bearish trend over the past couple of days.
Currently, the AXS platform is showcasing mounting buying pressure which has not reached its peak yet. And hence a notable trend reversal could be in place in the upcoming week. Yet if the rally follows a similar pace then the levels around $160 to $180 may be possible by the EOY. However, if the rally gets immense boosts or a bull rally gets intensified then the asset could also range above $220. Yet $500 appears to be pretty tough for the asset to achieve this year.
Factors Affecting AXS Price Today
Limited Token Supply
Like many other cryptocurrencies, the AXS has been created with a limited supply of 270 million. Meaning, no new token will be created beyond this range and hence the value of existing tokens tends to rise over time.
AXS-The Governance Token
The players get rewarded in the form of AXS and the voting for the governance protocols are completely dependent on the number of AXS one holds. The users can stake their tokens to take place in the voting process
The developers are expected to expand the platform in terms of both gameplay and functionality in the future. With the developing environment, the platform tends to become more secure to trade and also to play.
Runs on Desktop and Mobile
The gaming platform is designed to be compatible with both desktop and mobile platforms. It runs on Microsoft, Windows, MACOS and the Android operating system.
Where & How to buy Axie Infinity?
Axie Infinity has become very much popular in the NFT space and hence is available for trade on most of the platforms. However, in India, CoinDCX provides you with a better platform to deal with. It is India’s first crypto Unicorn with a huge user base of more than 7 million users with more than 4 million active users.
Just download the CoinDCX App, register yourself entering your details & bank details, and also complete with the KYC. Currently, CoinDCX is running the year’s biggest referral contest where-in you can earn awards worth INR 3,00,000.
All you need to do is send your referral link to your contacts. Further, if your friends complete the KYC and place their 1st order, then you are eligible for this reward. For more information check the official announcements page.
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