When Axie Infinity was launched, it was selling for less than a dollar. At the moment, the coin is selling for more than $120 per token. A lot has happened between the period it was launched and now. Many of the earliest investors of Axie made lots of money when the coin reached its all-time high a few weeks ago. The coin actually reached its all-time high of $165.37 on 6the November 2021, a year after it recorded its all-time low price of $0.1234 per token.
The easiest way to make money through cryptocurrency investing is buying when the coin is cheap and selling when the price goes up. It can happen within the space of a year, which is the case with Axie Infinity. But does that mean that Axie infinity will make you rich in 10 years? There are several things you must consider before coming to this conclusion.
Depending on your level of experience in cryptocurrency investing, there are many key questions you must ask before investing in Axie. If your intention is to wait for several years before cashing out, then this is one of the best articles you can read before making up your mind. Axie Infinity is one of the trendy coins at the moment, and you need to be sure that it will be very valuable in the future before investing.
There are many coins that can make you rich in the next ten years. Is Axie Infinity one of them? It is difficult to tell how well a cryptocurrency will perform in the future. However, there are different ways to determine how a digital currency can perform in the future.
Here, we are going to discuss everything you need to know about the suitability of Axie Infinity as a long-term investment vehicle. Read carefully to understand and make a sound investment decision.
- What Is Axie Infinity?
- How Does Axie Infinity Work?
- More About The Axie Infinity Token?
- Is Axie Infinity A Good Investment?
- Will Axie Infinity Make You Rich In 10 Years?
- Price History Of Axie Infinity
- Recent Performance And Current Standing Of Axie Infinity
- Axie Infinity Price Predictions
- Where Will Axie Infinity Be In The Next 10 Years?
- Weighing The Pros And Cons Of Investing In Axie Infinity
- Should You Play The Long-Term Game With Axie Infinity?
- Final Words
What Is Axie Infinity?
Axie Infinity, according to its whitepaper, is a Pokémon-inspired universe that allows anyone to earn tokens through skilled gameplay and contribution to the ecosystem. It is an NFT-based online video game that allows users to make money by winning battles and adventures with digital pets called Axies. Players can buy, breed, and sell Axies (which are also non-fungible tokens). Depending on a player’s skillset and effort, the game can be very lucrative. Axie Infinity is built on Ethereum and supported by a custom-built chain called Ronin.
Axie Infinity has changed the online gaming industry. The team behind the platform created an excellent virtual world that offers values in the form of entertainment and investment opportunities. Players no longer play for pleasure alone. Rather, they can turn their leisure time profitable. Regular investors who are not really interested in playing the game can still invest in Axie Infinity by buying its token and selling when the market is favorable.
Like other cryptocurrency platforms, Axie Infinity has a native currency called Axie Infinity Shard or, simply, AXS. This native currency serves several purposes in the Axie Infinity universe. For a start, it is the governance token of the network. It is also the primary investment vehicle for those who want to invest by day-trading or HODLing. It is also the NFT players earn when they win the battles and adventures in the game. It can also be staked. Axie Infinity has another token called Small Love Portion (SLP), but it is mostly used to breed Axies.
Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
How Does Axie Infinity Work?
As mentioned in the paragraphs above, Axie Infinity allows gamers to participate in battles and adventures, and earn rewards when they win. To get started, a player will need to buy three Axies, which are unique digital pets. The Axies are represented by an ERC-721 NFT.
Axies generally have four statistics: Health, Morale, Skill, and Speed. The stats play a critical role in the performance of the Axies during a battle. They also come in six different classes: Aquatic, Beast, Bird, Bug, Plant, or Reptile. Their classes also determine their performance during a battle or adventure. Axies are also composed of six body parts, including the back, ears, eyes, horns, mouth, and tail. You can evolve these body parts to make them stronger.
In addition to using them to win battles, you can breed Axies to get offspring. Finding the right match for your pet can create rare and powerful offspring that can be more valuable for battles and command higher fees on the marketplace. Each Axie can only be bred seven times.
Besides the digital pets, Axie Infinity players can trade a variety of in-game resources, including plots of land, on a peer-to-peer marketplace.
More About The Axie Infinity Token?
We can't possibly discuss the Axie Infinity universe in detail here. If your intention is to invest for ten years, then your focus should be on the Axie Infinity Shards, the native currency of the network.
AXS is an ERC-20 token that serves as the governance token of Axie Infinity and the primary investment vehicle. It is the coin you will buy and possibly keep if you want to invest and make a profit from the network by only trading the token. The other token used in the network is called Smooth Love Portion. You shouldn't bother so much about it if you are not going to take part in the gameplay.
Though it is used to breed Axies, you can simply buy AXS for investment reasons. Of course, it will also give you voting right in Axie Infinity’s decentralized organization.
Is Axie Infinity A Good Investment?
It has been reported that people in the Philippines quit their jobs to play Axie Infinity. Of course, this was mainly because the game is profitable to those who know how to play. But does it also mean that investing in AXS can be so profitable?
It is important to start by stating that playing Axie Infinity is different from investing in Axie infinity. To play the game, you will need to buy or borrow Axies. To invest, however, you just need to buy the token and sell when the market factors are in your favour.
Axie Infinity can be a good investment if you buy at the right time and sell at the right time. However, it is not often easy to get it right with timing, especially in a volatile market. You must also take a peek into the future of a digital currency to determine whether it is a good investment or a bad one.
Will Axie Infinity Make You Rich In 10 Years?
It will be very difficult to become rich in ten years by playing Axie Infinity. Most players may not even have the patience to play the game for several years. But when it comes to investing, you can make some significant investment in the token and wait for ten years before cashing in. This can bring massive profit if the price of the coin goes up significantly. Does Axie Infinity have the potentials?
There is no way to be certain that AXS will make you rich in the years. However, there are different ways to determine its chances of becoming so valuable in the future that an investment you make now can be worth a lot more than its current value. You will need to consider the past, the present, and the future of the very coin you want to buy.
Price History Of Axie Infinity
Though Axie Infinity was released in 2018, AXS was launched through an ICO in November 2020. The token sale happened between 3rd and 4th November 2020 and the ICO token price was officially recorded as $0.1 per token. However, the coin recorded its official all-time low price of $0.1234 on 6th November 2020. It eventually ended the month at $0.475 per token. AXS gained value in December, reaching $0.752 on the 20th. It eventually finished the month (and the year 2020) at $0.534.
AXS started 2021 at $0.5373 and started rising slowly. By 27th January, it had reached $0.948. It finished the month at $0.840. AXS started becoming really valuable in February 2021. It reached $1 on February 2nd. By February 19th, it was already selling for $2.15 per token. March was also a very good month for the coin. Though it started the month at $1.39, AXS reached $5.88 per token on 15th March 2021. It eventually finished the month at $6.24.
On 1st April 2021, AXS traded for $5.69 per token. By 6th, it had climbed to $9.29. It dropped for a while and fluctuated for weeks and eventually ended the month at $10.11 per token. May was not just the month for AXS. The coin lost value throughout the month. By 24th May, it had dipped to $3.40. It improved a little to end the month at $4.55.
AXS did not record any significant improvement in June. It started the month at $4.95, fluctuated a little, and eventually finished the month at $4.61. July was a much better month as the coin started at $5.72 and reached $11.01 on 7th July. By July 14th, AXS traded for $20.76 per token. It reached $23.74 on 16th July before dropping to $15.19 on 21st. In a space of five days, AXS jumped to $43.40 on 26th July. It finished the month at $43.29.
On August 1st, 2021, AXS traded for $42.91. It dropped to $38.53 before picking up to reach $66.42. It climbed further to $77.01 by 23rd August, before finishing the month at $73.40. By September 6th, AXS reached $82.18 per token. However, it dropped to $64.36 on September 8th before dropping further to $55.05. It recovered in time to end the month at $69.22.
October was a remarkable month for Axie Infinity as the hype was just ripe. The coin traded for $74.59 on 1st October but by the 2nd, it was trading for $109.65. It climbed further to $135.96 on 4th October before dropping to $127.06 on the 7th. It dropped in the second week, reaching $116 on the 12th. It fluctuated during the 3rd and 4th week but eventually finished the month at $147.37.
Recent Performance And Current Standing Of Axie Infinity
November has been a spectacular month for AXS. It started the month at $138.16 but rose quickly to its all-time high value of $165.37 on the 6th. By the 12th, it was down to $146.99. By 20th, the digital coin was trading for $132.64. AXS ended 2021 at a price of $93.30.
At the time of writing this piece, AXS was trading for $52.31 per token, with a 24-hour trading volume of $336,477,404. In the previous 24-hour period, the coin recorded a low price of $52.05 and a high price of $54.59. Its market capitalization is $3,185,037,136, making it the #41 ranked cryptocurrency in the world.
Axie Infinity Price Predictions
Though it is difficult to tell how much a coin will be worth in the future, some experts have been able to get really close with algorithm-based predictions and other viable methods. Price predictions may not always work out, but they can help us determine the level of risks involved in long-term investment on a particular coin.
Wallet Investor is one of the most respected prediction sites, so we will start from it. According to its latest prediction, AXS can be worth as much as $191.36 by the end of the year. It also predicts that the Axie Infinity coin will be worth as much as $690.98 in the next five years (2027).
Digital Coin Price is also optimistic about the future of Axie Infinity but not as optimistic as Wallet Investor. According to its latest predictions, AXS will be worth about $109.51 in November 2025. However, the site also predicts that the highest price of the Axie Infinity token in the future will be $235.07.
Long Forecast, gives a more subdued prediction about the future of Axie Infinity. It predicts that Axie Infinity (AXS) will be worth around $115.5 in December 2022. It also predicts that the coin will close at $108.7 and $90.8 on December 2023 and December 2024, respectively. By December 2025, the website predicts that AXS will close at $186.1.
Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
Where Will Axie Infinity Be In The Next 10 Years?
Judging from what we have discussed so far, where do you think Axie Infinity will be in the next ten years? The game has already attracted millions of players globally. Its native token has also soared within one year. The majority of prediction sites are also optimistic about the future of the coin.
Axie Infinity can become a lot more popular in the future. It is possible that the price of AXS will go up further, but there is no certainty in the cryptocurrency market. Ten years is a very long time, considering the fast-paced nature of the industry. As we have seen with the coin, a lot can happen even within a year. A coin that has provided an ROI of 52167.87% in just one year, according to Coin Market Cap, can perform wonders in one year. At the same time, ten years is enough time for a competition to emerge and knock Axie Infinity off its top spot.
Don't Miss: Axie Infinity Price Predictions
Weighing The Pros And Cons Of Investing In Axie Infinity
Sometimes, it is easier to decide to either invest in an asset or ignore it after considering its pros and cons. Here, we will briefly highlight the pros and cons of investing in Axie Infinity:
✅ Axie Infinity has popularized the concept of Play-to-Earn, and this has introduced many gamers to the blockchain industry.
✅ Axie Infinity is well created, with an excellent virtual world and exciting gameplay. It will continue to appeal to gamers for years.
✅ Axies are among the most valuable non-fungible tokens (NFTs), and Axie Infinity is making waves in the fast-emerging new sector in the blockchain universe.
✅ Axie Infinity is built on Ethereum and has a sidechain that helps to make it more secure and impressive.
✅ There are different ways to make money from Axie Infinity, and users can decide what they want to do. You can buy and sell Axies, breed and rent Axies, as well as trade the numerous NFTs on the platform in a P2P marketplace.
✅ Axie Infinity has performed really well and many will be drawn to the Pokémon-inspired universe once they understand how exciting and rewarding it can be.
✅ It is possible to stake AXS and earn passive income, even when you are not engaging in battles and adventures, or breeding digital pets (Axies).
✅ As the governance token of the network, AXS makes holders the decision-makers of the network.
❌ Axie Infinity is a relatively new project, and there is no way to be sure that the appeal it has on gamers will not wane with time.
❌ Like other cryptocurrencies, AXS is a volatile asset. In fact, it has shown signs of extreme volatility, which is not really a good thing.
❌ AXS can reach its peak quickly and begin to fall. Once this happens, many gamers may abandon Axie Infinity, and that will have a major negative impact on the value of the coin.
❌ The fast-paced nature of the cryptocurrency space means that another exciting game can come out and knock Axie Infinity out of its top spots in the gaming industry.
❌ It has become a bit expensive to start gaming on Axie Infinity or to buy a reasonable amount of AXS. The cost of getting started feels bloated at the moment, which is a threat to long-term profitability.
Should You Play The Long-Term Game With Axie Infinity?
While there are reasons to believe that Axie Infinity can perform well in the future, there are also concrete reasons to doubt its sustainability. The game is well designed to offer fun and money-making opportunities, but it has grown at a pace that is considered unsustainable.
Already, Axie Infinity has helped many to make lots of money. The earliest investors have enjoyed staggering ROI, but it is unlikely that it will continue to get better for many years. The nature of the Axie Infinity universe at the moment means that you can get in and make money through different activities, but it appears to be most suitable for short-term investing.
There are chances that Axie Infinity will continue to make waves in the future. After all, the team behind the project has vast experience in both the gaming and blockchain industries. But truth be told, there are few chances that the gaming platform will sustain the momentum it has now for ten years. Short-term investing is clearly a better approach than waiting for ten years.
Axie Infinity is an exciting new world for gamers and blockchain enthusiasts. We have discussed the most critical things you need to know to understand whether long-term investing is ideal for it. Regardless of your investing strategy, you should know that choosing the right place to buy digital currencies is important. You should also remember at all times that cryptocurrencies are generally volatile, which means they are all risky. Axie Infinity has shown signs of extreme volatility, which means it presents bigger risks than the average cryptocurrency. It may also not be the best asset for long-term investing, so invest cautiously.