The price of Axie Infinity, a native coin of a blockchain trading and battle game with the same title, skyrocketed to an all-time high in market value. Despite the downtrends in the market value of digital currencies, Axie reached a new price high of $21.55 on Tuesday. The platform experienced an increase in demand in recent days as other tokens from the gaming economy like “smooth love portion” have also seen monumental buying pressure.
Axie Infinity Token Skyrockets in Value
A week ago, Bitcoin.com reported how the Axie Infinity economy is expanding very quickly, as the project’s NFT asset and it’s native token reach an all-time high in market value. The project is an Ethereum-based blockchain game that also features a digital marketplace and governance protocol.
On Tuesday morning, axie infinity (AXS) reached an all-time high of $21.55. The token has experienced a significant rise in value in recent weeks, outpacing top dogs like BTC and ETH in terms of percentage gains.
Coingecko stats and nomics.com data show the market capitalization for AXS is around $1.3 billion and there’s $1.2 billion in 24-hour trade volume on Tuesday. At 0.00062 BTC per AXS, the axie infinity token has gathered 18.11% on Tuesday against bitcoin (BTC). Out of the thousands of cryptocurrencies in existence, Coingecko shows AXS holds the 74th position ranking on July 13.
SLP Joins the Surge in Value
The Axie Infinity economy features other tokens on its ecosystem which are also seeing an increase in demand as well. One specific token called “smart love potion” (SLP) has also experienced significant buying pressure. Axie Infinity players can earn SLP in rewards for battling in the game’s adventure mode.
SLP also surged to an all-time high on Tuesday morning, reaching $0.39 per unit on Binance. Axie Infinity tokens can be purchased and sold on exchanges like Uniswap, Digifinance, Huoibi, and Binance.
About Axie Infinity Game
The Axie Infinity universe was developed by a game studio created in 2018 called Sky Mavis. Axie Infinity is a play-to-earn-style game similar to Pokemon or Hearthstone game characters. The game is about a battle between token-based creatures called “axies”, players can collect items, breed these creatures as well as raise them. Besides collecting and raising, players can also make a team of axies to battle in the arena.
Axies can also be bought, sold, and traded with others in the marketplace.
To participate, players need to download the game, Ronin wallet and Ronin bridge to get started, and the web3 ETH wallet Metamask is also used to connect with the game. In addition to the aforementioned steps, users are obligated to have at least three Axies sold on the Axie marketplace to begin gaming.
A Bright Future for Blockchain Gaming
Blockchain gaming has become significantly popular in recent times and the emergence of NFTs has played a huge role in the process. The play-to-earn function has made Axie Infinity a popular source of income around the world.
Axie Infinity’s community in the Philippines is a typical example where players have earned more money by playing games compared to their previous jobs.
Crypto and Gamers are proud partners with Axie Infinity since the early days. In recent times both projects have collaborated in making promos and giveaways.
Crypto and Gamers have been major players in the NFT movement and Blockchain gaming from the start of the movement, and we will continue to help to support and accelerate adoption.