BigONE Strategy: Is Axie Infinity (AXS) worth the investment?

BigONE Exchange
5 min readJul 22, 2021

Since May, the prices of many cryptocurrencies have fallen drastically. But there seems to be an exception every few weeks. From Keep Network to Baby DogeCoin, a new cryptocurrency, will make headlines every once in a while due to a sharp price increase. Like Axie Infinity (AXS), it is also a new cryptocurrency, and its price has soared by nearly 550% in just one month. According to BigONE’s data, on June 15th, its transaction price was US$4.45. By July 15th, it hit an all-time high of US$28.61. Let’s take a look at why Axie Infinity suddenly became popular.

What is Axie Infinity?

Axie Infinity is the result of combining cryptocurrency with games. Axie’s mission is to bring blockchain technology to the public in an interesting way. It is a profitable cryptocurrency built on the Ethereum (ETH) network. Users can obtain Axie Infinity Shard Token (AXS) and other game tokens, Smooth Love Potion (SLP), in various ways. To earn tokens, players can cultivate, breed, and battle Axies in this Pokemon-inspired universe. Investors who don’t want to play games can buy these two tokens on cryptocurrency exchanges.

Just like CryptoKitties (collectible digital kittens leading the NFT boom), Axies are cute digital pets — each one is unique. They are also non-fungible tokens (NFT) that can be bought and sold. At present, the lowest price Axies sells for about 200 US dollars, and the most expensive one is 300 ETH (nearly 550,000 US dollars). According to the requirements of Axie Infinity, investors need to connect your wallet and purchase three Axies before they can participate in the game. Due to the huge profit potential, this game is top-rated, especially in developing countries. High participation and high income are the reasons that promote Axie’s popularity. According to CoinDesk data, Axie’s revenue in June exceeded major decentralized exchanges such as Uniswap and Aave.

Should you buy Axie Infinity (AXS)?

Before buying Axie Infinity, BigONE recommends that investors should consider several issues.

1. Are you interested in crypto games?

As with any investment, it’s not a good idea to buy something you don’t know in the hope that the price will increase. Therefore, if you want to buy Axie Infinity (AXS), it is important to understand crypto games. This is undoubtedly an interesting part of the cryptocurrency industry, especially after NFT completely changed the concept of in-game assets. With the development of blockchain technology, crypto platforms may host more complex games, and we may see more crypto games like Axie that earn tokens through payment.

However, there are still many obstacles to this technology. BigONE believes that the most important one is scalability. Most applications are built on the Ethereum network. Before it can be upgraded, the platform is very crowded, which makes transaction costs change. Very high. For Axie, its huge growth has also brought about some technical problems. Earlier this month, the game could not log in for three days due to technical reasons.

2. Do you want to participate in Axie Infinity (AXS)?

When you buy cryptocurrency, you are usually buying community tokens, and some tokens are based on the active participation of token owners to push it forward. If an investor buys tokens as an investment but has no intention of participating in it, they may not obtain the maximum value of the return. For example, Axie will soon introduce staking, which allows token owners to earn interest by locking their tokens for a period of time. However, whether by playing games or voting in governance decisions, staking of Axie tokens will be associated with investors’ enthusiasm for participation.

Ideally, as an investor in Axie Infinity (AXS), you should at least be A person who likes playing games very much. There are two ways to make money through Axie, the value of the token increases, or game players actively participate in the game to make money from Axie. BigONE believes that if you consider buying Axie, you should at least understand what game NFT is. These contents can be obtained by viewing other BigONE articles and videos.

3. Do you see a long-term potential?

When a cryptocurrency soars 550% in a month, investors must know how far it can go. It is a common pattern for people to invest in them just because of price increases. This is why BigONE always recommends that investors do more research on their own and make long-term investment plans. This will push up prices further and increase the risk of these investors buying at high prices.

On the surface, Axie has many advantages:

⦁ Calculated by market value, it is one of the top gaming cryptocurrencies.

⦁ Its senior team has experience in blockchain and games.

⦁ It has a white paper with a clearly defined roadmap and goals.

⦁ It is profitable. According to Token Terminal, which measures revenue from various agreements, Axie Infinity has made $40.2 million in just the past 7 days.

⦁ Billionaire and cryptocurrency enthusiast Mark Cuban joined Axie’s latest round of financing, which raised $7.5 million.

Here are some specific risks of Axie:

Many investment institutions believe that the sharp increase in Axie Infinity (AXS) price makes it feel more like a flash in the pan rather than a long-term investment.

⦁ Axie may encounter more server issues or face different technical issues.

⦁ If the value of Axie drops, the community may continue to move forward, but participating in the game will no longer be profitable.

⦁ Considering the speed of technological development, the emergence of new games may eliminate them from the top spot.

Axie Infinity (AXS) looks interesting, and many people have added it to the watch list. But BigONE still advises investors to decide whether to buy Axie Infinity (AXS) through the exchange after playing the game in person, nurturing their own Axies, and immersing themselves in the game world.

About BigONE

BigONE is a global cryptocurrency exchange that provides a platform for trading various cryptocurrencies. It was founded in 2017 and registered in the Netherlands. The group operates in Russia, Brazil, Vietnam, Seychelles, Singapore, Japan, and Indonesia, providing marketing, investment, and blockchain technology research & development.

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