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Why Does The Price of SLP and AXS Keep Skyrocketing?
Well, to understand it, you need to consider a few things.
The game is growing extremely fast, and to play the game as a manager, you need these tokens.
The Axie Infinity team have doubled the amount of AXS required to breed Axies, 2 AXS up to 4 AXS.
The game is gaining an extremely large amount of exposure and hype, people are purchasing these tokens for investment.
Now let’s reflect on each one very briefly.
How fast is the game growing? Well, to put it into perspective, the game had 15,000 active users at the start of 2021 and now has over 310,000 active users. That is an increase of 2,000% in 6 months.
As you can see above, these are the user numbers as of July 4th 2021, the growth has been astronomical.
Now, Why did they increase the breeding count from 2 AXS to 4 AXS? Well, the answer is actually quite simple. Here is a message from the Axie team as to why they chose to do this:
In summary, it is for the sustainability of the in game economy. The price increase of AXS would have been an easy bet for many investors after this announcement.
Finally, the game is popular! With popularity comes larger reach and more eyes. When the eyes of the whales are caught, you can guarantee that the money will start to flow into the tradings pairs, and with this, the price should begin to increase. On top of this, both tokens are on Binance, which is the world’s largest exchange. Millions of people have access to these tokens, meaning billions of potential trading money. See the regular trading volumes for both tokens below:
It goes without question that AXS and SLP have huge potential and opportunity to grow in the future. However, the ride will not be smooth, that’s a given. Be safe and have fun. Only invest what you can lose.
Sky Mavis’s Jeffrey Zirlin said in an interview with GamesBeat that when Axie Infinity started three years ago (2018), “…almost nobody cared or understood what a Non-Fungible Token (NFT) was”. Now, Axie has grown sales by over 500% in 2 months! Let’s find out why:
Three Years in the Making
Axie Infinity is not a new game. Their team has been working tirelessly for 3 years straight. Many of the original team members met playing Crypto Kitties, another crypto based collecting game. Crypto Kitties was their first time ever using Blockchain for anything other than pure speculation and trading. They soon started working on Axie to introduce the magic of Blockchain technology to billions of players.
Axie Infinity is funded by 10very largeinvestors (Mark Cuban for example), and quite a few smaller investment firms and individuals. 500 StartupsVietnam and Collaborative Fund are the most recent investors. The game has raised a total of $9M in funding over 3 rounds and their latest round of funding was completed on May 11, 2021, a Series A round.
Axie Infinity has some exceptionally experienced advisors, including: Hashed (https://www.hashed.com/), DelphiDigital (https://www.delphidigital.io/), EdwardLee Lee (Blackwing Intelligence, Security researcher), SebastiènBorget (The Sandbox, COO and Co-Founder), and Binance.
High Quality Team
The Axie Infinity team consists of 25 full-time employees (growing daily) and has its headquarters in Ho Chi Minh City, Vietnam.
The game’s founding team has a high level of understanding in the gaming industry and are experienced in player psychology and blockchain engineering. Some of them have a vast network inside the Blockchain industry and even deep gaming connections.
Transition from ETH Blockchain to the Ronin Blockchain
In April 2021, the most impactful event for Axie, AXS token and SLP happened: Ronin Phase 2 was launched! This massive upgrade enabled gamers to move their Axies from the Ethereum blockchain to the Ronin sidechain, removing the massive fees involved with the Ethereum blockchain. Since then, breeding, buying and selling Axies is now only possible on Ronin. During that time, breeding fees had been set at 1 AXS, instead of the old 0.005 ETH. But on July 3, 2021, breeding fees increased from 2 AXS to 4 AXS to ensure that Axie population growth remains healthy and to create additional utility for AXS.
All of these events have contributed HEAVILY to the eruption of Axie Infinity. Each team member, each decision, each investor and each upgrade has contributed and laid a foundation for years to come. Axie Infinity will pave the way for future games and because if that, the game demands respect and appreciation.