The cryptocurrency market is often following some trends. Few years ago, making an ICO was fashion, while the recent bullrun we know was rather focused on the Decentralized Finance and the Non Fungible Tokens. While the hype for those two different type of projects was a bit more lazy, the NFT tokens are the ones that performed the most during last weeks, especially Axie Infinity and its token $AXS.
What is Axie Infinity ?
Axie Infinity is a blockchain game that is currently knowing a huge hype. We can count more than 500 000 players on a daily basis, which even made their web servers crash. Developpers are trying to find a way to solve this issue. There remains two tokens that can be used on Axie Infinity : $AXS and $SLP. The SLP (Small Love Potion) are the platform rewards for playing game. You can win money by playing games such as Sudoku for example. Even if it only represents few cents per game, in some countries that's really not negligible. So, especially in the countries where the money has a poor value compared to the dollar, people are playing a lot Axie Infinity. More than 450 million dollars are exchanged daily on Axie Infinity.
NFTs are hype
Axie Infinity is surfing on the wave of the Non Fungible Tokens. Inspired by Cryptokitties or Pokemon, it is not the only game using this principle. Indeed, Crypto punks, Polkamon or others are making this special market a huge financial marketplace.
There are also other things than the gaming NFT industry. Binance has launched its NFT marketplace where you will be able to purchase NFT from athlete such as UFC fighters, for example. Decentraland and its token $MANA is a virtual world where you own a territory purchasable in $ETH. Those territories are becoming some marketing place where brands can make many ads for their products.
What is your favorite NFT projects ? Tell me in the comment section.
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