Over the past few months, the crypto market has been gaining momentum, driven by a growing institutional uptake of crypto and an improved regulatory environment. As a result, a number of crypto projects have emerged with promises of growth and high returns. Axie Infinity is one such platform.
Axie Infinity and its AXS token have been in the spotlight lately, thanks to its unique features and offerings. Moreover, due to the significant rise in the value of AXS, investors are curious to know whether Axie Infinity could be a millionaire-maker coin.
Blockchain-based game Axie Infinity saw its native crypto token rally by 2,100% in 2021 and now boasts a strong community. Notably, Axie Infinity is extremely popular at this time. The network has registered over 250,000 daily active players.
Impressively, the game has generated more than 13,000 ETH in revenue. Additionally, the network also offers a fun and educational way to introduce the world to blockchain technology.
Axie Infinity has the potential to be a millionaire-maker, considering the significant growth that the crypto platform is estimated to experience over the next couple of years.
But before we talk about Axie Infinity's potential as an investment, let us take a look at what the platform is and the factors supporting its quick rise.
Axie Infinity: What Is It?
Axie Infinity (AXS) is a play-to-earn cryptocurrency ecosystem and gaming network. The platform enables users to earn AXS by playing various games within the Axie Infinity Universe and user-generated content initiatives. Players can earn rewards by collecting, trading, battling, raising, and mating digital assets called Axies.
Axie Infinity entered the market in 2018. The firm is registered as a for-profit company out of Vietnam. Since its launch, Axie Infinity has seen impressive adoption. The platform features a massive gaming community and an equally notable social media presence.
The platform airdropped 800,000 Axis Infinity Shard (AXS) tokens to its early adopters and opened up staking capabilities, allowing users to lock in their coins and earn new ones in return, sending the value of its token soaring. AXS holders can receive rewards for playing, voting, and staking the token and will get paid dividends from Axie Infinity’s community treasury, valued at more than $2.3 billion.
In Axie Infinity, players buy, breed, and pit monsters called Axies against each other to win in-game currency (called small love potions), which can be exchanged for fiat cash. This business model is known as play-to-earn, where players earn crypto rewards for playing a game.
Each Axie is a non-fungible token (NFT), a unique collectible that can be bought or sold across exchanges outside of the game. To initiate battles, players must own at least three Axies. One of the most expensive monsters was sold in 2020 for 300 Ether (worth about $130,000).
Factors That Could Make Axie Infinity A Millionaire Maker
1. Attractive Offerings and Capabilities
With its unique fee structure, investing in AXS now could help you become a millionaire in the future.
There are lots of benefits users gain when they participate in the Axie Infinity ecosystem. For one, blockchain-based trading and battling games are very entertaining. Users can spend hours exploring, battling, and collecting valuable NFTs (non-fungible tokens). These tokens range in value based on their scarcity and usability in the game.
Another significant advantage of the Axie Infinity universe is its open-source nature. The developers behind the concept encourage other community members to create tools to better the overall user experience. In this way, the platform takes a forward-looking stance.
The crypto community has also lauded Axie Infinity for its fee structure. One of the biggest benefits Axie Infinity users gain is profits. Notably, 95% of its revenue goes back to the players. Specifically, Axie takes a 4.25% fee for buying and selling Axie NFTs. In addition, users also pay a small fee when they breed their Axies.
The ROI potential of Axie Infinity has caused the network to operate as a jobs platform for some regions of the world. Users are earning sustainable rewards through gameplay. The Covid-19 pandemic appears to have driven this income-seeking sector of the market to new heights. Currently, many full-time gamers are earning steady ROIs on the network.
2. Unique Gaming Features
Axie Infinity has garnered immense support in just a few months, making AXS a must-buy crypto token.
Axie Infinity is a Pokémon-inspired universe that combines some popular aspects from games like Cryptokitties and more. Users breed their Axies to develop particular skills and admirable traits. They can then take their specially Axies and complete quests to earn energy.
Axies are the digital creatures that roam the universe. They can breed and pass down their unique traits. Notably, each Axie can only breed up to seven times before they go sterile. This strategy ensures that there are never too many similar versions of these digital assets in existence.
Users can also battle each other to earn rewards. You can breed, raise, and then compete in PVP battles to win leaderboard prizes. These prizes can range from collectible NFTs to tokens. The more battles you win, the more valuable your Axie becomes in the ecosystem.
One of the core components of the platform is the breeding aspect. This feature is similar to Cryptokitties in that each Axie has a DNA code that holds their individual traits. Users can breed and sell their Axies on the marketplace to secure rewards easily.
Collectors gain a lot of advantages using Axie Infinity. The self-sterilizing features of the market help to improve scarcity, which then allows traders to speculate on super-rare Axies. Also, users can cash out their Axies using popular DEXs like Uniswap.
3. AXS Tokens
Buying AXS tokens could help you realize massive profits in the long term.
AXS is the primary utility and governance token of the network. Users can earn this ERC-20 governance token through a variety of tasks, such as playing games or participating in content creation campaigns. AXS is traded on multiple exchanges, including SushiSwap and Uniswap.
Players do not have to be gaming masters to secure rewards in the Axie Infinity network. Anyone can claim rewards by staking their AXS tokens. Staking provides a consistent payout and is far less labor-intensive than trading for new users. As such, most new users prefer staking over trading their crypto. Best of all, you retain ownership over your digital assets when you stake.
Axie Infinity incorporates a decentralized governance mechanism. This feature enables AXS token holders to vote on upgrades and more. This system also controls the release of funding from the Community Treasury. In this way, Axie Infinity is partially owned and operated by its users.
Buying and owing AXS tokens are a sure-fire way of becoming a part of the growing Axie Infinity ecosystem.
Axie Infinity is a perfect example of how NFT gaming can benefit all parties. Developers see more interactions and profits while users gain higher ROI potential with less risk. For these reasons, it is safe to assume Axie Infinity will remain a pioneering force in the market for the foreseeable future. AXS could likely become a millionaire-maker coin soon.
Before investing in Axie Infinity, it is best to understand crypto gaming, similar to other investments that require due diligence. It is an exciting new segment of the cryptocurrency industry. So ensure you perform due research before investing your savings in it.