Fun

Axie Infinity Game Tokens Skyrocket in Value, AXS and SLP Capture All-Time Price Highs

News Feed - 2021-07-14 12:07:32

Axie Infinity Game Tokens Skyrocket in Value, AXS and SLP Capture All-Time Price Highs


While most digital currency markets are down in value, a token called axie infinity, the native coin tethered to the blockchain-based trading and battle game of the same title, has reached new price highs jumping to $21.55 on Tuesday. The Axie Infinity platform has seen massive demand in recent days, and other tokens from the gaming economy like “smooth love potion” have also seen significant buying pressure. Axie Infinity Token Values Surge


Last week, Bitcoin.com News reported on the booming Axie Infinity economy, as the project’s non-fungible token (NFT) assets and its native token have skyrocketed in value. The project is basically an Ethereum-based game that also offers a digital marketplace and governance protocol.


The token, axie infinity (AXS), is leveraged for governance and other actions within the game. The game involves a battle between token-based creatures called “Axies,” and players can collect items, breed the creatures, and train them similarly to Pokemon or Hearthstone game characters. Data shows that the token axie infinity (AXS) tapped an all-time high on Tuesday morning (EDT), July 13, 2021.


On Tuesday morning (EDT), axie infinity (AXS) tapped an all-time price high at $21.55. The token has been on a market rampage in recent weeks, outpacing coins like BTC and ETH in terms of percentage gains. Seven-day statistics show AXS is up 86.72% against the U.S. dollar and 410.11% over the trailing 30 days.


Coingecko stats and nomics.com data show the market capitalization for AXS is around $1.3 billion and there’s $1.2 billion in 24-hour trade volume on Tuesday. At 0.00062 BTC per AXS, the axie infinity token has gathered 18.11% on Tuesday against bitcoin (BTC). Out of the thousands of cryptocurrencies in existence, Coingecko shows AXS holds the 74th position ranking on July 13. Smooth love potion (SLP) is also a token tied to the Axie Infinity economy and has seen major demand.


The attention lately has not just been focused on AXS, as the Axie Infinity economy’s other tokens are seeing demand as well. One specific token called smooth love potion (SLP) is one of the Axie Infinity tokens seeing buying pressure. Axie Infinity players can earn SLP as rewards and when they battle in the game’s adventure mode.


SLP too tapped an all-time high (ATH) on Tuesday morning, reaching $0.39 per unit on Binance. Besides earning and collecting SLP and AXS, the Axie Infinity economy’s tokens can be purchased and sold on exchanges like Uniswap, Binance, Bkex, Digifinex, and Huobi. While the Play-to-Earn Structure Is Popular, Some Call It a Pyramid Scheme


The Axie Infinity universe was developed by a game studio created in 2018 called Sky Mavis. The game leverages a play-to-earn structure and players can collect rare Axies and breed them by leveraging SLP. Axie Infinity players earn more resources by competing in PVP battles hosted in the game’s adventure mode.


Players need to download the game, Ronin wallet and Ronin bridge to get started, and the web3 ETH wallet Metamask is also used to connect with the game. In addition to all those steps, users also have to have at least three Axies sold on the Axie marketplace to begin gaming. NFT Games will be a GAME CHANGER, get it? get it???


Games like #AxieInfinity will bring finance into games and also gamify finance.


The border to gamified Ponzi schemes will also blur, though 🤷‍♂️


— Holger 🌈 (@rohmeo_de) July 9, 2021



Blockchain-based games have become very popular in recent times especially with the emergence of NFTs. With the play-to-earn structure, people can earn funds in the Axie Infinity economy but they still have to fork over some ether to get started.


For this reason, some people have begun to think of Axie Infinity as a borderline Ponzi scheme. “Is it just me or [does] Axie Infinity feel like a Ponzi/pyramid scheme?” one individual said on Twitter on Tuesday. Twitter is littered with comments from other individuals saying the same thing.


What do you think about the Axie Infinity blockchain gaming universe and the project’s associated tokens swelling in value? Let us know what you think about this subject in the comments section below. S&P Dow Jones Launches 5 New Cryptocurrency Indices MARKETS AND PRICES | 7 hours ago Baby Doge Sheds Over 40% This Week Despite NASCAR Debut and Animal Shelter Donation MARKETS AND PRICES | 1 day ago Tags in this story axie infinity, Axie Infinity players, axies, blockchain game, ERC20, ether, Ethereum, Ethereum Game, game, metamask, nft, NFTs, Non-fungible Token, PVP battles, Sky Mavis, SLP, Smooth Love Potion, Tokens


Image Credits: Shutterstock, Pixabay, Wiki Commons, Axie Infinity, nomics.com data, Twitter, Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article. Read disclaimerShow comments

News Feed

CEX.IO to Offer Instant Cryptocurrency-Backed Lending Service in 217 Countries and Territories
CEX.IO to Offer Instant Cryptocurrency-Backed Lending Service in 217 Countries and TerritoriesLONDON, the United Kingdom– CEX.IO, one of the largest international exchanges in
El Salvador: Hackers leak code of state Bitcoin wallet
Helen Partz9 hours agoEl Salvador: Hackers leak code of state Bitcoin walletAfter leaking the entire database of Chivo users in early April, the hacker group CiberInteligenciaSV started releasing the wallet’s code.1405
XRP Price Forecast – Analyst Sets $4 Target After Potential Retrace
Este artículo también está disponible en español. XRP has seen a sharp 25% pullback from its recent local high of $2.90, leaving investors questioning its next move. Desp
Consumers find more use cases onchain, devs face challenges: Solana Foundation
Derek Andersen3 hours agoConsumers find more use cases onchain, devs face challenges: Solana FoundationDecentralized finance is becoming more things to more people. That’s not easy to do.1220 Total views2 Total sharesL
Ezra Reguerra27 minutes agoCrypto mining hardware retailer Phoenix Technology mulls IPO in UAE: ReportA mainstream media report highlighted that the mining hardware firm Phoenix Technology is planning to go public in Abu
VC Roundup: Investments in Web3 startups top $1B in July
Ana Paula Pereira3 hours agoVC Roundup: Investments in Web3 startups top $1B in JulyThis edition of Cointelegraph’s VC Roundup features Pichi Finance, Sybill, Hyperbolic, Raad Labs, and zkLink.483 Total viewsListen to
Fee war breaks out among spot Ether ETF issuers ahead of listings
Alex O’Donnell7 hours agoFee war breaks out among spot Ether ETF issuers ahead of listingsFranklin Ethereum ETF (EZET) has emerged as the fee race’s frontrunner.2395 Total views5 Total sharesListen to article 0:00New
Bitcoin Miners May Get Another Break This Week as Network’s Mining Difficulty Is Expected to Drop
Bitcoin Miners May Get Another Break This Week as Network"s Mining Difficulty Is Expected to Drop Bitcoin miners may catch another break this week as the network’s mining di
‘Bird Beak Sign’ Appears On Bitcoin Price Heikin Ashi Chart, Analyst Explain What This Means
Este artículo también está disponible en español. The Bitcoin price may be on the verge of hitting new all-time highsas a crypto analyst has unveiled the emergence of a n
Derek Andersen3 hours agoCourt confirms Celsius bankruptcy exit plan, $2B in crypto to go to creditorsThe decision ends the complex case with a creditor-approved plan that will see their partial reimbursement and make th
Cordoba Becomes the First Argentinean Province to Impose Taxes on Crypto-Related Activities
Cordoba Becomes the First Argentinean Province to Impose Taxes on Crypto-Related Activities In Argentina, a provincial legislature has voted in favor of a bill t
Many terrible cryptos are trading at ‘crazy valuations,’ warns Bitwise CIO
Ciaran Lyons7 hours agoMany terrible cryptos are trading at ‘crazy valuations,’ warns Bitwise CIOBitwise chief investment officer Matt Hougan cautions that not every token having a price surge in the cryptocurrency m