“Red sky at night is a sailor’s delight. Red sky in the morning, sailor takes warning.” This is an old adage popular among sailors for when to expect a storm and pull up the sails to safeguard oneself against the foreboding expected tempest and alternatively, when to become complacent under the fiery stars and over the blue still oceans. In a way, crytpo-trading is very similar to sailing. Sometimes the winds blow in your favor and you steep the ship accordingly and sometimes you have to expect the wind and journey through the seas so you are not blown off course and a journey gives you more trouble than profit.
Not getting too much off course ourselves, one crypto-currency that has been taking the market by storm is token AXS of Axie Infinity. What is Axie Infinity, you might be wondering. It is a Ethereum-based play-to-earn game that has been majorly inspired the Nintendo’s Pokémon game series. But in Axie Infinity, players breed, raise, battle and trade NFTs in the form of pets called Axies. It has become extremely popular and the faith of the market has been reflected with AXS as the current price of the token is $144.28, with an upward trajectory from early august when it was just $10.35 till now.
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A graph that shows the increasing trend of the currency. Ref: coinmarketcap
Another unique aspect about the coin is that the market crash earlier in the year was absolutely brutal and many cryptocurrencies took a hard hit. But Axie Infinity exploded at the same time when the market was supposed to be cautious.
Now to how does the token work. Axie Infinity has two native tokens that are utilized on the network. Axie Infinity Shards (AXS) is the governance token while Smooth Love Potion (SLP) is earned while playing the game. Both are ERC-20 tokens and tradeable on Ethereum’s network. Every Axie is unique and is represented by a non-fungible token. The monsters in Axie have features similar to that of an enemy in a role-playing game (RPG) where each monster is distinct and has its class that attributes a value to them and decides their worth. Players earn SLP by performing quests, battles, etc. in the game. Moreover, Axies can also be bred to create rare and unique combinations. Each Axie has different genes with varying probabilities of it being passed down.
Finally coming to the future of this amazing run by a video game, the question is whether it can sustain itself and rival the greats or will it come to an end. Intuitively speaking, most video games have seasonal popularity and can sustain the interest of only a small part of the community that started it off. This can be overcome by introducing major updates ever so often, but that takes a lot of commitment from the developer’s side, to make the player feel like there is always something new. Regardless, Axie has proven to be extremely fruitful for its investors and its rise and fall would be quite the ride.