Those who invested in bitcoin, the main cryptocurrency on the market today, 10 years ago, are now celebrating. In mid-2011, just a few bucks left in the pocket were enough to have the merit of a millionaire patrimony years later.
After all, crypto accumulates 13,500% appreciation, going from $0.3 to the level of $40,000.
It was a multiplication of about 270 times for those who managed to invest in the most famous crypto in the world since the beginning.
But believe it or not, the valuation bitcoin has delivered all these years is nothing close to what the “new generation” of the cryptocurrency market has offered.
Currently, there are more than 6,000 digital assets around the world, involving the most different types of projects and that, in some cases, represent even greater profit opportunities than bitcoin itself.
One of them is a cryptocurrency inserted in the games modality that has attracted the attention of investors. It is the AXS, token created to serve as a “buy and sell currency” in the Axie Infinity game.
In recent weeks, he has attracted attention from all corners after breaking record after record and delivering 84.7% appreciation in 30 days.
Not even companies with a solid history of growth and revenue generation like Google, Apple, Amazon and Tesla were any match for the return delivered by the new “star” of the cryptocurrency market.
To give you an idea of the size of the upside, it’s been over 7,000% since the beginning of the year. In the same period, bitcoin delivered around 250% appreciation.
And while we’re talking about a relevant leap in a small time window, there’s more to come.
I say this because analysts in the crypto market assess that AXS is still below its fair value, especially if we take into account the growth horizon for Axie Infinity.
Axie Infinity: You Can Profit More Without Learning to Play
Created on the Ethereum blockchain by Vietnamese technology startup Sky Mavis in 2018, Axie Infinity is a game with many similarities to the famous Pokémon game.
As with Nintendo’s video game, players can capture and battle small digital creatures, nicknamed “Axies”.
However, with one difference: in this new game, the blockchain is used to reward gamers for contributions to the system, in a “play to earn” model.
For this, the platform makes use of two cryptocurrencies, the AXS and the SLP.
AXS is the protocol governance token, where users can staking (a way to get passive income from cryptocurrencies) and receive AXS by voting and playing.
SLP is used internally to remunerate players. And that’s where the “cat leap” is: as players improve their characters and meet the proposed challenges, they can earn and accumulate cryptocurrencies.
This is one of the main reasons for the popularity of Axie Infinity.
The possibility of generating income by playing attracted several players from emerging countries, especially in South America. In all, the game has more than 500,000 active users daily and has already enabled players to generate thousands of reais a month.
(vídeo – https://www.youtube.com/watch?v=rlVIhYVQxKM )
Axie Infinity: How it works and what are the risks of cryptocurrency games
But despite the impressive profit of some Axie Infinity players, there is a way to earn even more money without necessarily having to be inside this universe.
As said before, the game concentrates much of its functionality in a single token: the AXS.
It functions as the game’s Treasure and that’s why the cryptocurrency has been appreciating so quickly.
To give you an idea, Axie Infinity had its highest historical revenue in July, accumulating $ 128.6 million in revenue.
And all of this even though it is still in the alpha phase, that is, in its first stage, as the developers on the project’s website promise the creation of an entire universe based on creatures.
In the game’s current marketplace, it is already possible to acquire lots of land, which will be used in a future version of Axie Infinity, in which cities are planned to be built.
In this new phase, the cheapest land already costs more than $9 thousand, while the cheapest axies have already reached a sales price of $250 dollars.
These factors lead us to believe that the expansion of Axie Infinity is just beginning and, therefore, the valuation of AXS still has a lot of room to go.
And, if both have more room to grow, this is excellent news for investors. After all, even without playing, it is possible to capture very expressive gains being the holder of some lots of the digital currency that commands the game.
And if you think that the growth of AXS stopped here, maybe you could be wrong.
This month, an event has the potential to raise its price to much higher levels, pulled by another cryptocurrency with even greater reach.
AXS has the potential to be powered by Ethereum
I don’t know how much you follow the cryptocurrency market, but I must tell you that on August 5th, the long-awaited Ethereum update happened.
Called “London fork”, the update aims to reduce rates and make the currency deflationary, that is, to make the competition of the ETH cryptocurrency increasingly fierce, since it will be limited, as the production of bitcoin is today.
However, although the update is the Ethereum protocol, other cryptocurrencies end up “surfing the wave” and having even higher valuations.
And that’s what analysts now estimate for AXS, since it’s a token that was developed inside the cryptocurrency blockchain.
Events of this magnitude have happened before and have had impressive results. Let’s take the case of Halving as an example, an update that happens every four years in the bitcoin protocol.
It takes place to control the inflation of the most famous cryptocurrency in the world, thus avoiding the artificial fluctuation of prices.
But what really stands out are the results after each event:
- In the first of them, in 2012, there was an increase of 8,438% in a 12-month interval.
- In the second, in 2016, the valuation was 2.875%; and
- In the third, since the 5th of August until now, the appreciation was 72.05%.
This is not to say that profits will be guaranteed, don’t get me wrong. However, there is no way to rule out the possibility of making money that the investor could have from this month, with AXS being driven by one of the main cryptocurrencies in the world today.
