I’ve earned 350k from my 5k investment by investing in one crypto. Here is the crypto …

1. Axie is a play-to-earn cryptocurrency game

Play to earn is a relatively new form of gaming, but the concept is catching on. Players in these games earn cryptocurrency tokens within the game, which they can trade on decentralized exchanges for hard cash.

2. Axie’s not the only play-to-earn game on the market

If you’re considering buying AXS today, bear in mind that there are other crypto games available that might eclipse today’s craze. What sets Axie apart is that it’s had years to develop the product and build its community. The project originally started in 2017 and it only took off recently, which the team believes will make it harder to imitate.

3. Axie Infinity generated more revenue in the past 30 days than the other top ten apps combined

According to data from Token Terminal, Axie has generated almost $90 million in revenue in the past 30 days. At the time of writing, the other top ten apps on Token Terminal’s list totalled around $41 million combined.

4. Axie land sale broke records

Back in February, a user spent 888.25 ETH (worth about $1.5 million at that point) on nine plots of land in Axie. CoinDesk said it was the largest NFT sale on record at that point.

5. You need three Axies to take part in the game

As an investor, you’re more likely to buy AXS tokens in the belief they will increase in value long term. However, Axie Infinity is not geared toward investors — it’s a community that encourages token holders to participate.

6. People are quitting their jobs to play Axie

According to the Cryptoday newsletter on Substack, the average player can earn around 4,500 SLP a month. At today’s prices, that’s around $1,500.

7. The price jumped over 600% in a month — then halved in value

From mid June to mid July, AXS jumped by over 600%. The price hit an all-time high of $29.13 on July 15 before falling to $14.19 on July 20. At the time of writing, AXS is climbing again.

8. You can’t buy Axie on major U.S. exchanges

Right now, AXS and SLP aren’t available on top U.S. cryptocurrency exchanges, which means they aren’t easy to buy. It is possible to use a decentralized exchange, but be careful, as these are not always open to U.S. investors, and buying from an unregulated exchange increases the risk of fraud.

--

--

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store
Darwin Limz

Darwin Limz

My writing is about My life journey from miserable to Significant. I hope my unique story inspires, educate & informs others! Entrepreneur, Sales Expert, Actor