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Axie Infinity (AXS) - a game token that becomes a global hit

created Michał SielskiAugust 12 2021

Computer games based on blockchain it is not the future for a long time, but the present. What's more, it allows you to earn a fortune. It is thanks to one of them that you can buy Axie Infinity (AXS) tokenwhich it went up a hundredfold in eight months and there are many indications that this does not have to be the end of gains. Is it a temporary fashion or a chance for above-average profits in the long term?

We continue the cycle of the Forex Club portal, in which we analyze and describe the largest, highest-valued, most interesting, most developmental, advanced and also the most controversial cryptocurrency projects around the world. Today it's time for a token NFT Axie Infinitywhich is unique on a global scale.

What is Axie Infinity

Axie Infinity is a blockchain game that connects Pokémon i CryptoKitties. Its ecosystem was built on Ethereumso the ERC-20 Axie Infinity Shard (AXS) token is also based on it.

The game has been around since 2018, but it has only recently gained great popularity. Vietnamese production in November 2020 also introduced AXS tokens.

Axie Infinity game

The game is based on controlling Axies - i.e. virtual characters. They can also be sold, but players mostly play solo or as a team, fighting monsters in Lunacia - the kingdom of Axie Infinity. They can also choose an arena mode and fight other users. You pay AXS for in-game purchases, but you can also get cryptocurrency by voting and playing.

Axie Infinity is getting more and more popular. The number of players is growing very fast and has already exceeded 1 million, increasing by 700 thousand. within a month. It is thanks to the next players that the price of AXS tokens is growing, because they have already been sold for the equivalent of over USD 1,11 billion. These figures make it clear that this is the best-selling NFT collection of all time. It has even overtaken Cryptopunks by Larva Labs, as well as NBA Top Shot i Bored Ape Yacht Club.

The cryptocurrency-based games market is growing at a tremendous pace

It's good to know that cryptocurrency games financing transactions are doubling from 2020. There is a growing interest and number of platforms for the development of blockchain-based games. A recent report revealed that blockchain-based game companies received nearly $ 500 million in funding in the first half of 2021. Even if only some of these projects succeed, it will surely be a breakthrough and a completely new part of the cake that will surely attract many people.

So far, the market leaders are three companies: Mythical Games, Animoca Brands and High, which raised USD 75 million, USD 89 million and USD 185 million, respectively, for the development of the games they are working on.

Axie Infinity Shard (AXS)

Initially, AXS tokens only existed in the game, but they quickly became redeemable and found their way into the "salons" of the blockchain world. On Binance Stock Market have been quoted since December 14, 2020, when they were paid $ 0,67. As of August 12.08.2021, 66,62, you have to spend USD 219,71 for each AXS token, so it is easy to count that they increased their value by a hundredfold. Only in the last month, the price increased by 11%. The peak of trading took place on August 2021, 75, when the AXS was paid $ 39. There are currently 60 units in circulation, out of a target of 907 million units, which translates to a market capitalization of more than $ 500 billion.