Is Axie Infinity (AXS) Worth Buying In 2023?

Last Updated January 5th 2023

8 Min Read

Is Axie Infinity worth buying? What are some reasons why you should invest in AXS, and are there risks to buying Axie Infinity?

Well, Axie Infinity has performed exemplary well since its launch, and it is expected to continue growing its value, which makes it worth buying. By the end of 2023, for instance, analysts are convinced that AXS will grow its worth by between 140% and 900%, making it a must-have for most short- to medium-term investors.

After growing its value by more than 110,000% in its first 12 months of operation, AXS proved just how profitable it can be. It also launched a comprehensive roadmap that outlines some highly innovative programs and projects that they are looking to integrate into the Axie Infinity ecosystem over the next few years. These include the Lunacia metaverse, upgrades to the Axie Infinity app, and eventual conversation of the AXS ecosystem into a social network. These are all expected to continue fueling the AXS token’s value gain and are a solid reason why you should consider buying Axie Infinity today.

In this Axie Infinity investment guide, we will be exploring more reasons why you should consider buying AXS in 2023, identify the benefits and risks of investing in AXS, and tell you why the 39th Most valuable cryptocurrency is so popular today.

First, though, let us try to understand what Axie Infinity really is and its vision for the future.

What Is Axie Infinity (AXS)?

Axie Infinity is a blockchain-based play-to-earn game. Its creation started in 2018 before eventually launching on the Ethereum network in November 2020. Today, however, Axie Infinity is hosted on the dedicated Ronin Sidechain.

According to its development team, led by Sky Mavis, Axie Infinity seeks to provide users with a comprehensive platform where gamers do more than just battle and earn. It seeks to evolve into a single social networking application that allows anyone to interact with the Axie Infinity universe and all it has to offer.

According to the Axie Infinity roadmap, this universe is made up of multiple highly innovative components. Some have already been launched, but most are still in their development or testing stages. They include the Axie Infinity game, the Ronin sidechain, AXS token staking, the Axie Infinity mobile app, the Axis Infinity marketplace, the Lunacia metaverse, and the Axie Infinity social network.

Such an innovative approach to the crypto industry, especially the play-to-earn gaming model and the NFT marketplace, have helped grow the Axie Infinity community. Today, Axie Infinity boasts of a following extending hundred of thousands across different social media networks and more than 2.8 million daily active users. Further, it has also constantly posted a higher transaction volume than such established blockchains as Solana and Avalanche.

Note that the Axis Infinity ecosystem has two tokens. AXS (Axie Infinity Shards) is the governance token, and SLP (Smooth Love Potion) serves as its utility token. The maximum token supply for AXS is capped at 270 million, and it is currently ranging between $45 and $111 for the past 30 days.

Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.

Why Is Axie Infinity (AXS) So Popular Right Now?

At the moment, Axie Infinity attributes its massive popularity to its wholesome approach to the gaming world. It has not only moved a conventional game to the decentralized blockchain world but has also infused it with the play-to-earn model.

In addition to making it possible to earn while playing, Axie Infinity also ensures that each Axie used in the game can also be traded as an NFT. And to make this possible, they have come up with a proprietary Axie Infinity marketplace where you can buy and sell Axies.

Other factors that contribute to Axie Infinity’s popularity include:

Play to earn model: The fact that you can make money while enjoying your favourite pastime has seen gamers flock the Axie Infinity blockchain in droves. So far, there are 2.8 million daily active AXS platform users, and these have transacted over $3.6 Billion in the Axie Infinity marketplace.

Inspiring past price action: Between November 2020 and November 2021, Axie Infinity token price grew by more than 110000%. This made AXS one of the fastest-growing tokens, which helped attract the attention of speculative investors - who make up the majority of the crypto community.

Potential for future growth: Moving forward, analysts are convinced that as the Axie Infinity ecosystem rolls up more upgrades and programs, AXS token prices will keep rising. This has ignited FOMO among speculative investors looking to be part of the altcoin’s next bull run.

Should I Buy Axie Infinity (AXS)?

Yes, you should consider buying Axie Infinity because it has proven to be a good long-term investment. It has not only performed exemplarily well in the past, but analysts and investors are convinced that it will sustain this uptrend in the foreseeable future.

The continued value gain and resultant ballooning of your invested capital will be made possible by growing Axie Infinity’s growing popularity, in-network developments, and growing community support.

But just how high do crypto analysts expect Axie Infinity token prices to reach in the near future?

Technical analysis by the all-popular Wallet Investor indicates that Axie Infinity token prices will continue rising in the foreseeable future. They are confident that the token price will appreciate by 1630% in the next 5 years to reach $815.

Experts at CryptocurrencyPricePrediction also expect AXS to continue building on its 2021 momentum and sustain a moderate uptrend. By the end of 2025, they expect AXS to have broken above $1000.

A longer-term analysis of the token prices by TechNewsLeader reveals that it will gather pace and embark on a price run in the last half of this decade. They project that in 10 years, the AXS token will have grown its value by close to 6000% to reach $2986.

PricePrediction.Net share this optimism about the AXS token’s future price action. In the next 10 years, they too expect Axie Infinity token prices to have appreciated by more than 6400% to reach $3200.

But even before deciding whether AXS is a good long-term investment, we need to decide if it is worth buying in 2023.

Check Out: Axie Infinity Price Predictions

So, Is Axie Infinity (AXS) Worth Buying In 2023?

Yes, even though Axie Infinity is currently on a downtrend and is currently trading about 70% below its all-time high, the majority of analysts and speculative investors are convinced that it still is worth buying. They are hopeful that AXS can rebound, rise above its current all-time high, and possibly reach new heights within the next 12 months.

Crypto pundits at Coinquora, for instance, are convinced that a recovering crypto market will inspire a wild AXS price run that pushes it above the ATH in the first half of 2023. By the end of the year, they believe AXS will be 5X up its current market price and trading around $250.

Technical analysts at Gov Capital have an even more optimistic view of AXS token’s short-term price action. They expect a fast rebound that helps AXS rise above its current ATH by April 2023 before pushing it above $477 by the end of the year.

Still not convinced that Axie Infinity is worth buying? Here are three more reasons why you should consider buying AXS tokens today.

Why Should You Buy Axie Infinity?

Potential for massive future growth: You should consider buying Axie Infinity tokens today because they have the potential to appreciate and hit unprecedented highs soon. A few analysts, for instance, have argued that given its innovative approach to gaming and the comprehensiveness of the Axie Infinity ecosystem, AXS will most likely reach $5000 in the next 10 years.

Multiple income-generating activities: You may also consider investing in AXS because it presents you with multiple income-generating streams. These range from buying and holding, staking, gaming rewards, breeding and selling Axies on the NFT marketplace, and lending Axis teams to other players.

Resilient crypto asset: After rallying to $10 in the first half of 2021, the market crashed, and AXS tokens shed more than 70% of this peak value. In November, it rallied again and hit the current ATH of $165. At the moment, the market has crashed, and AXS has shed 705 of its peak price. Having proved to be a resilient crypto asset in 2021, analysts are convinced that AXS will rebound within the next few months and set aim for new highs - which effectively makes now the best time to buy.

Don't Miss: Could Axie Infinity Be A Millionaire-Maker Coin?

Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.

Risks Associated With Axie Infinity (AXS) Investment

Massively volatile: Like all other cryptocurrencies, Axie Infinity is a massively volatile crypto asset. In the last 8 months, it has dipped twice and shed more than 70% of its value during each price crash. This shows the ease with each AXS price fluctuation can liquidate your positions and tells you that you should only invest in Axie Infinity if you can stomach such volatile value losses.

Stiff competition: Axie Infinity faces stiff competition in the play-to-earn niche from the more popular blockchain platforms like Decentraland and Sandbox. Analysts believe that the competition for the market between these platforms will most likely limit the rate with which AXS price rises over the next few years.

Conclusion: Should I Buy Axie Infinity (AXS) In 2023?

Yes, you should consider investing in Axie Infinity in 2023 because the token has proven to be a reliable long-term investment. You should also consider AXS today because they have sustained an uptrend since its launch, and both the fundamentals and technical indicators that its value will continue rising in the foreseeable future.

The majority of analysts are convinced the altcoin will rebound and rise above the current ATH before the end of the year, and others expect it to grow by more than 6000% in the next 10 years. Some of the factors that they believe will help AXS prices grow and its token prices worth buying include a recovering crypto market as well as the addition of more projects to the Axie Infinity ecosystem.