The cryptocurrency of play-to-earn gaming pioneer Axie Infinity is among the virtual assets that gained more than 10,000 percent this year. Emma Newbery is a writer for investing, finance, and stock market news source The Motley Fool, and she confirmed this development.
We have learned much about Axie Infinity this year. We gathered that it is a blockchain-based trading and battling game partially owned and operated by its players.
We learned that Axie Infinity had gained popularity among gamers, and since it is related to virtual currencies, we believe our readers will benefit from learning about it.
Based on Newbery’s December 19, 2021 article published in The Motley Fool, the Axie Infinity cryptocurrency’s trading price is up more than 18,300 percent this 2021.
At the time of writing, the $AXS crypto-asset trades at exactly US$94.71, per the information from Coinmarketcap.com.
Moreover, the Axie Infinity virtual asset features players earning two in-game tokens, which are $AXS and $SLP or Smooth Love Potion, which they can swap on cryptocurrency exchanges for real money.
Newbery owns Axie Infinity cryptocurrency, as well as Ethereum, Chainlink, Sandbox, Solana, Polygon, and Terra. She pointed out that Axie Infinity is modifying the conventional manner gaming works via giving rewards that possess value outside the game itself.
Besides the virtual asset of this blockchain-based trading and battling game, other cryptocurrencies that produced astronomical trading price increases this year are Gala, Sandbox, Polygon, Terra, and Solana.
Upon learning about Axie Infinity, Newbery wrote that it could be very tempting for interested investors to pour their hard-earned investment money into this game’s crypto-asset, as well as in those cryptocurrencies with trading prices that skyrocketed this year.
These investors are usually wowed by the news of incredible gains and feel motivated to invest in the hopes of getting wealthy.
However, Newbery warned that high cryptocurrency returns are not guaranteed, even if investors carefully research and learn about each crypto-asset’s advantages.
She relayed that it is never wise to buy cryptocurrency at the cost of accomplishing other financial targets.
Newbery’s article also mentioned that expecting to reap astronomical investment returns by merely investing in virtual assets like Axie Infinity is a risky and difficult investment strategy.
We think the cryptocurrency of Axie Infinity is a promising token, considering that it is among the crypto-assets that have received massive support this year. Nonetheless, we agree with Ms. Newbery when she advised interested investors to be cautious and not give in to temptation.
We recommend interested investors carefully study and follow the latest developments regarding Axie Infinity first. We think this step is exciting and safe at the same time.
They can check whether this game’s cryptocurrency will continue to perform well this coming 2022. We recommend being prudent and cautious in the highly volatile cryptocurrency investment scene so investors will not lose their investment funds.