The author will not be held responsible for information that is found at the end of links posted on this page. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. It also does not guarantee that this information is of a timely nature. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. You should do your own thorough research before making any investment decisions. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. Information on these pages contains forward-looking statements that involve risks and uncertainties. Players hold AXS for nearly eight months on average, which is a healthy indicator of the token's on-chain growth and investor confidence.įXStreet analysts have set a target of $100 for AXS as it looks primed for volatility. The sentiment of holding the gaming token is a sign of long-term growth potential. Thus, more traders are holding AXS, than those who are taking profits at the current price level. IntoTheBlock data shows that the growth in "total with balance" addresses (holding AXS tokens in their wallet) has overcome the growth in "total zero balance" (which is considered a bearish metric). The Blockchain empowers gamers to really own the things that they're creating, to really actually monetize the time that they are spending playing these video games. Traders play 50 to 80 days to recover their initial investment of $800, and then they can expect to earn anywhere between $10 to $15 a day by playing the game.Īlexis Ohanian, the founder of VC firm Seven Seven Six, commented on Axie Infinity Every time a user sells an Axie on an NFT marketplace they can earn an average of $270. Though there are costs that players incur every step of the way – buying Axies (about $800), breeding them, and so on. The revenue is derived from profit splitting between the scholarship provider and the player. Players develop a passive income stream by buying additional creatures and offering scholarships to new players who cannot afford their Axies. Three Axies are needed to play the game with a reasonable profit. Buying two Axies and breeding them for the third is one of the most popular strategies. To start playing, traders deposit Ethereum to Ronin wallet – Axie Infinity's sidechain linked to Ethereum – and buy Axies. Players who invest several hours a day earn anywhere between $8 to $40, depending on their Axies, powers and incentive during game play. Each different strategy in the game opens a wide range of profit-taking opportunities for the player. The Coinbase listing has pushed AXS price higher in the past week, however, there are more ways to earn from Axie Infinity. The US-based exchange announced the listing on TwitterĪXS and Coinbase are together at last! #AxieGang let’s go!!! /y0jXI2ws90 However, the increase in daily active users cushions the existing selling pressure that arises from profit taking on exchanges.Ĭryptocurrency exchange Coinbase recently noted the surge in AXS demand by crypto enthusiasts and listed Axie Infinity Shards. This implies that traders are exchanging AXS for stablecoins to safeguard profits. On further analysis of AXS, it is clear that 81% of the Axie Infinity trades are in the USD Tether (USDT) market. In the past two months, AXS has offered over 2,000% in returns to traders. Traders exchange these tokens on cryptocurrency exchanges to earn revenue. There are two Ethereum tokens that players earn, Axie Infinity Shards (AXS) and Smooth Love Potion (SLP). The game features Pokemon-like creatures called Axies, and their powers can be traded and exchanged as non-fungible tokens on P2P marketplaces. Coinbase listing Axie Infinity triggers bullish outlook on AXSĪxie Infinity, an online multiplayer video game, has gained popularity in the gaming and crypto community. On-chain analytics suggests that AXS has long-term growth potential, and the "play to earn" game is currently one of the highest-grossing crypto applications.Īnalyst Nick Grous of Ark Invest noted that players who lost their jobs in the pandemic earn by playing Axie Infinity 40% of the daily active users live in third-world countries like the Philippines.AXS has rallied over 900% in two months.Recent Coinbase listing led to a bullish week for Axie Infinity.Axie Infinity surpassed nearly $1 million in daily active users and $1 billion in sales.
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