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

Axie Infinity. Yes, it’s AXS. The first Gaming Crypto

Had risen around 7000% in 3 months. sounds crazy? isn’t it?

I am gonna explain more the reason why AXS reached ATH.

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

In Axie Infinity, players own cute creatures called Axies. Each Axie is a non-fungible token (NFT), which means it is a unique digital collectible in its own right. Players can breed and battle Axies, as well as complete quests and farm resources.

There’s a whole economy within the game (a world called Lunacia). Players can use their in-game tokens — Smooth Love Potion (SLP) and Axie Infinity Shard (AXS) — to buy land, farm, or breed Axies in Lunacia. And since the tokens have value, gamers can also use them to pay for rent or food in real life.

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

However, blockchain technology is also developing rapidly, and every successful coin seems to spawn a number of copycats. With any cryptocurrency, there’s always a risk that something better will quickly replace it.

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

Revenue comes from in-game purchases, such as land. Axie takes a 4.25% fee for buying and selling Axie NFTs and charges fees for breeding. What’s truly remarkable is that 95% of its revenue goes back to the players. Which is why, as we’ll discuss shortly, people in developing countries are devoting so much time to the game.

However, one thing to remember is that cryptocurrencies are not stocks. If you buy stocks in a company that produces huge revenue, you may get a share of the profit through dividends. If you buy AXS, you don’t own a share in the business. The main way you can profit is through an increase in the token’s price.

4. Axie land sale broke records

Since then, we’ve seen a host of multimillion dollar NFT sales, including Twitter CEO Jack Dorsey’s first tweet, which sold for almost $3 million. This highlights the fact that AXS tokens are not the only way to invest in Axie Infinity — owning Axies and digital land could also be profitable for those willing to immerse themselves in Lunacia.

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

And participation can get expensive. Especially as one downside of Axie Infinity’s success is that the price of Axies has shot up. Players used to be able to get started with $5 to $10. Right now, the minimum price for an Axie is around $200, so gamers need to spend $600 to play. Axies can breed up to seven times before they go sterile.

You’ll also need two wallets and a chunk of Ethereum (ETH) before you can even buy your first Axie.

6. People are quitting their jobs to play Axie

Axie says there are more than 250,000 daily active players. The game is both time consuming and strategic. Not only do players need to carefully breed their Axies to develop particular skills, they also need to complete quests to earn energy that lets them participate further.

As a result, some workers in countries like Vietnam and the Philippines are giving up their day jobs to dedicate themselves to Axie. It has helped many people through pandemic-related economic struggles, though most see it as a side hustle rather than a day job.

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

All cryptocurrency prices are volatile, and big price jumps are often driven by investors who see a coin is rising and get scared they’ll miss out. Make sure you do your homework and look at Axie’s long-term potential before you buy.

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

All in all, Axie could be an interesting one to watch. But it’s a good idea to understand the crypto gaming industry and the play-to-earn concept before spending your hard-earned cash.

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

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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