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Axie Infinity Fundamental Analysis
Axie Infinity Shards (AXS) is a governance token used in the Axie Infinity game — the hottest blockchain game of the summer of 2021. The creators of Axie Infinity claim that its purpose is combining work and play — meaning that the players can earn real-world rewards while having fun.
Axie Infinity is a game inspired by Pokemon and other titles like it. Players start by purchasing Axies — the creatures that can breed, get ability upgrades and fight against other players’ Axies. There is a wide variety of body parts that a player can choose to add to their Axie and evolve it, so there are some unique and valuable builds out there. Every Axie is an NFT token and can be traded with other players or sold — the most valuable ones selling for upwards of $820,000. A player can also build the environment for their Axies, such as purchasing land, which is also tradable. To get more unique combinations, Axies can be bred, which requires the second token circulating in the game — Smooth Love Potion (SLP). Those tokens are earned in battles as experience points.
AXS token is used for governance of the Community Treasury. Players’ tokens must be staked to participate in the voting process, which also allows them to earn rewards. AXS is also the main currency of the Axie NFT marketplace.
Axie Infinity Live Price Chart
During the first half of 2021, AXS token price followed the crypto market trend spurred by the Bitcoin rally, growing from $0.5–$0.6 in January to over $10 by April and then going down to ~$4 at the beginning of the summer. However, while the market has generally been staying low since the May crash, Axie Infinity Shards price has been experiencing unprecedented growth in July 2021, surging first to $28.6, then dipping briefly to ~$14.2 (still higher than any previous highs) and then soaring even higher, breaking a few possible resistance lines with no sign of stopping. On July 27, AXS token price reached a new all-time high of $53.28. This growth may be possibly prompted by Axie Infinity game migration from Ethereum to its own sidechain, as well as the network effects making its user base grow exponentially. In any case, AXS having its price continually trending up since the beginning of 2021 through the summer makes it a fairly unique player in the crypto world and a very interesting project to watch.
Axie Infinity Technical Analysis
Axie Infinity Price Prediction
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