When choosing a digital asset to invest in, many people consider the most popular crypto assets, such as Bitcoin, Solana, Ripple, Ethereum, etc. However, experienced investors also recommend investing in less popular yet promising tokens. For example, some in-game tokens and NFTs gain momentum. In this article, we would like to talk about AXS coin, its essence, and prospects.
What is Axie Infinity?
Axie is the first play-to-earn blockchain-based project that emerged in the market. The platform made a buzz in the industry, attracting many players and participants. The essence of the game is to play and receive the AXS token in return. AXS is an NFT made in the form of little cartoon-painted animals that can be used in the following ways:
- breeding and creating new Axie NFTs;
- expanding the platform through buying land and plots;
Is the Axie Infinity Token a Good Investment Option?
In 2022, the platform faced many troubles when it was hacked and lost $625m. That caused a huge drop in the Axie infinity crypto value. In spring 2022, the AXS token recovered a bit and gained 10%. The all-time high of the AXS coin was fixed at the mark of $165.37 in November 2021. As of October 2022, the price is $9.02.
The important role in building the AXS coin price belongs to the platform’s popularity. The more players use it, the more chances for the token to gain value. With the decreasing interest in the Axie blockchain-based game, the project may face challenging scenarios in the future.
However, experts have a positive opinion on the future AXS coin price, claiming it may reach $200 in 2023. Keep track of the Axie project on its social networks to stay up-to-date with the latest news and updates.