Why Is Axie Infinity (AXS) The Crypto Of The Day?

The following post was written and/or published as a collaboration between Benzinga’s in-house sponsored content team and a financial partner of Benzinga.

Axie Infinity recently upgraded its gaming platform, making the game more profitable to play. Yes, you read that right. Gamers are making money, sometimes even more than they make from their day jobs, from playing a video game.

What is Axie Infinity?

Axie Infinity is a blockchain based game where players use creatures called Axies to battle, breed and progress through the game. These Axies are non-fungible tokens (NFTs) which players can buy and sell on marketplaces. These creatures have unique traits, rarities and experience levels. 

Depending on these factors, Axies can fetch anywhere from $150 to over $100,000 in special cases. While playing the game, users earn Small Love Potions (SLP) which are Ethereum tokens used to breed Axies, but players can also choose to sell these tokens on an exchange.

At the time of writing, Small Love Potions are trading at $0.35 each. Axie Infinity has been extremely popular in the Philippines, as low income individuals have been able to significantly supplement their income through playing the game.

Axie Infinity (AXS) is Up 20% in 24 Hours

While the rest of the crypto markets have been down, Axie Infinity has seen new all-time highs. Axie was trading around $10 when Bitcoin hit its peak of $64,000. Since then, Bitcoin has halved in value while Axie Infinity has doubled.

This is impressive, as smaller cryptocurrencies typically follow the price of Bitcoin. At the time of writing, Axie is trading at $21.20 per token.

Why is AXS Moving?

Axie Infinity is gaining in popularity, and as more users play the game, the more valuable the platform becomes. Non-fungible tokens like Axies, CryptoPunks and Bored Ape Yacht Club seem to be entering a bull market alone, leaving BItcoin in the dust. 

Where to Buy Axie Infinity

If you’re based in the U.S, the easiest way to buy AXS is on Crypto.com. Binance also supports Axie Infinity, but you’ll only be able to trade AXS on Binance outside of the United States. Another great option is to use a decentralized exchange (DEX) like Uniswap. 

These are exchanges that are powered on the blockchain, and all you need is Ethereum to trade on the exchange. There’s no need to make an account with Uniswap, simply connect your Ethereum wallet and you’re ready to trade a huge variety of crypto instantly. If you don’t already own Ethereum, Coinbase is the best place to get some. Plus, you can earn free crypto with Coinbase Earn!

The preceding post was written and/or published as a collaboration between Benzinga’s in-house sponsored content team and a financial partner of Benzinga. Although the piece is not and should not be construed as editorial content, the sponsored content team works to ensure that any and all information contained within is true and accurate to the best of their knowledge and research. This content is for informational purposes only and not intended to be investing advice.