And ideally, you should want to play the game.
I would argue that if you are considering buying Axie, at the very least you should understand crypto gaming. But Axie gamers are earning money from Axie by actively participating in the game. Investors earn money from Axie if the value of the coin increases. However, staking Axie tokens will be linked to your participation - either by playing the game or voting in governance decisions. This allows token owners to tie up their coins for a set amount of time and earn interest.
AXIE INFINITY GENRES FULL
If you buy the coin as an investment - without intending to join in - you may not reap the full rewards.įor example, Axie will soon introduce staking. Several coins are based around the active participation of token owners. When you buy crypto, you're often buying into a community as well as a coin. This includes a three-day outage earlier this month. The majority of applications are built on Ethereum's network, and until it can upgrade, the platform is congested and transactions are costly.įor Axie, its huge growth has given rise to a few technical troubles. As blockchain technology develops, crypto platforms may be able to host more complex games and we'll likely see more pay-to-earn coins like Axie.īut there are still several hurdles for the technology to jump. It is certainly an interesting segment of the cryptocurrency industry, especially as NFTs have revolutionized the concept of in-game assets. As such, it is important to understand crypto gaming if you want to buy this coin. Are you interested in crypto gaming?Īs with any investment, it isn't a great idea to buy something you don't understand in the hopes that the price will go up.
There are a few questions to consider before you buy Axie Infinity. According to CoinDesk, Axie generated more revenue in June than major decentralized exchanges like Uniswap and Aave. And the high participation is what's driving Axie's impressive revenue streams. The earning potential is what's made the game so popular, especially in developing countries. Learn more and get started today with a special new member discount. Sign up today for Stock Advisor and get access to our exclusive report where you can get the full scoop on this company and its upside as a long-term investment. In fact, you've probably used this company's technology in the past few days, even if you've never had an account or even heard of the company before. We’ve found one company that’s positioned itself perfectly as a long-term picks-and-shovels solution for the broader crypto market - Bitcoin, Dogecoin, and all the others. You need to buy three Axies to be able to participate in the game. The lowest-priced Axies available today cost around $200 and the most expensive one sold for 300 ETH (almost $550,000). They are also non-fungible tokens (NFTs) that can be bought and sold. Like CryptoKitties (collectible digital kittens which led the NFT craze), Axies are cute digital pets - and each one is unique. Investors who don't want to play the game can buy both tokens on decentralized exchanges. To earn tokens, players breed, raise, and battle Axies in this Pokemon-inspired universe. Users can earn the Axie Infinity Shard token (AXS) and the other in-game token, Smooth Love Potion (SLP) in several ways.
It's a play-to-earn crypto built on the Ethereum (ETH) network. Axie's mission is to bring blockchain technology to the masses in a fun way.
More: Check out our updated list of best crypto apps including one offer with a $100 crypto bonus What is Axie Infinity?Īxie Infinity is where cryptocurrency meets gaming.
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