What is virtual currency AXS? Thorough explanation of future price forecasts / outlooks and future potential

Many people may be interested in AXS, which is a brand whose price soared in 2021.

AXS is an NFT-related virtual currency that is currently attracting attention, and it is a currency that can be expected for future price trends.

However, you may be wondering what kind of brand AXS is and what the future holds.

This time, I will explain the future potential of AXS.What you can see from this article

  • AXS is a virtual currency that started handling in 2020
  • A currency that can be used in NFT games called “Axie Infinity”
  • You can earn AXS by playing the game
  • It is a stock whose price soared in 2021, and has recorded over 10,000% since the beginning of the year.
  • Expectations for currencies and NFT games are high, but prices may fall in response to the surge.
  • AXS is currently not available for purchase on domestic exchanges and must be traded via overseas exchanges

table of contents

  1. What is AXS?
  2. Features of AXS
    1. NFT related virtual currency
    2. You can earn virtual currency by playing the game
    3. You can use AXS for in-game transactions
  3. Price transition of AXS
    1. Price transition of AXS before 2021
    2. AXS 2021 price trends
  4. Future outlook and forecast of AXS
    1. AXS 2021 outlook / forecast
    2. AXS outlook and price forecast for 2022 and beyond
  5. Future price forecast for AXS
  6. Coincheck to start cryptocurrency trading
  7. Summary of future outlook for AXS

What is AXS?

AXS game

First, let’s check the basic information of AXS.

symbolAXS
Issuance limit270,000,000 sheets
Price (as of November 2021)¥ 16,393.46
Market capitalization (as of November 2021)¥ 997,690,902,597.63
Major exchanges where you can buyNot available on domestic exchanges
Official sitehttps://axieinfinity.com/

Axie Infinity is a game produced by a company called “Sky Mavis” in Vietnam, with the theme of “Play to Earn”.

Akushi game called Infinity on it to develop a character, you can earn virtual currency .

It is a mechanism to purchase characters with virtual currency at the beginning of the game, earn virtual currency while training and buying and selling characters, and convert it to legal tender to earn money.

Axie Infinity is inspired by the breeding games developed in Japan such as Pokemon and Tamagotchi, and the purpose is to raise stronger monsters by raising and breeding monsters.


Features of AXS

  • NFT related virtual currency
  • You can earn currency by playing the game
  • You can use AXS for in-game transactions

Let’s check each feature in detail!

NFT related virtual currency

AXS will be an NFT-related cryptocurrency that is currently attracting attention.

In the first place, NFT is a token called non-fungible token.What is non-substitution?

The non-substitutability, ” which does not work with replacement to other means that”.

For example, a “10,000 yen note” has a currency value of 10,000 yen and can be exchanged for 10 thousand yen bills (substitutable).

However, if you think of it as “the first 10,000-yen note issued in Japan,” there is only one in history, so it has a unique value (= non-substitutable).

The currency called AXS is the currency used on the NFT game “Axie Infinity” .

Characters cultivated by playing the “Axie Infinity” game have “non-substitution”, which means that they have unique value.

In this way, the currency created for trading NFTs is an NFT-related virtual currency, and AXS is also a currency for trading on NFT games.

You can earn virtual currency by playing the game

AXS token

AXS can earn virtual currency by training and competing characters in a game called “Axie Infinity”.

Since the earned virtual currency can be exchanged for the player’s legal tender (yen, dollar, etc.), among people in countries with low income such as the Philippines, Indonesia, Brazil , some players earn living expenses with “Axie Infinity”. There seems to be .

You can also buy and sell characters that have been bred and bred, and since more than 500 types of characters will appear, each character has its own unique value.

You can use AXS for in-game transactions

You can earn AXS (Axie Infinity) by playing “Axie Infinity”, but you can also use AXS to purchase in-game characters and so on.

The characters in the game are called Axies, and you need to purchase Axies at the beginning of the game.

Not only can you sell the Axie you raised and earn AXS, but you can also buy Axie at AXS to keep the game running smoothly.

Therefore, not only investors but also game players have the advantage of purchasing AXS, which makes it a currency that can be traded by various people.

Price transition of AXS

There is no doubt that how the price of AXS is changing will be a factor in making future investment decisions.

From here, I will explain the price changes of AXS so far, separately for before 2021 and after 2021.

Price transition of AXS before 2021

First, let’s take a look at the price changes of AXS before 2021.

Quote: TradingView

AXS is a relatively new cryptocurrency that was just launched in 2020.

At the time of listing, the price did not move much and remained at about US $ 0.1.

By the end of 2020, it had risen to US $ 0.5 to US $ 0.6, and it can be said that expectations at the beginning of the listing were not very high.

AXS 2021 price trends

Let’s take a look at the price changes of AXS from 2021.

Quote: TradingView

Until 2020, the price of AXS did not change significantly, but in 2021, the price rose sharply.

The year-to-date price was $ 0.52, while the current price is $ 75.56.

The price increase has exceeded 10,000% since the beginning of the year, and it can be said that it is a representative of the stocks whose prices soared in 2021.

However, it has not been rising since the beginning of 2021, and AXS also crashed once on May 19 due to the impact of the big crash of major virtual currencies such as Bitcoin in May.

Prices have been stagnant for some time since the May 19 plunge, but prices rose sharply from late June to July and gained even more momentum in August, reaching US $ 68.

The reason why the price of AXS has risen significantly is the introduction of “Ronin”, a side chain created exclusively for Axie Infinity.

By introducing “Ronin”, transaction fees (gas charges) have been significantly reduced, transaction speed has been improved, and the onboarding process for new players has been simplified, and it has been successfully incorporated into people who are not familiar with blockchain. It is said.

In addition, the popularity of NFTs is increasing, and the novelty of being able to earn virtual currency in a game called Axie Infinity is increasing the popularity of players.

Future outlook and forecast of AXS

AXS is also a virtual currency whose price soared in 2021, but is there any possibility that the price will rise further in the future?

From here, I will explain the future outlook of AXS and the prospect of price increase.

AXS 2021 outlook / forecast

AXS’s 2021 price outlook suggests that prices may fall.

Certainly, AXS’s profit model and novelty are so good that prices have continued to rise so far, but the following are the factors that will cause prices to fall in the future.Factors that cause the price of AXS to fall

  • Futures traders are aggressive in short positions (short sales) and the funding rate is negative
  • The valuation of AXS may have been raised extremely, and it is in a state close to a bubble, so there is a risk of price collapse.
  • Many investors are buying and supporting AXS, but prices may drop sharply when long positions are reduced.

AXS is a currency whose prices are rising significantly, but there is a risk that you will not know how far the price limit will be .

Currently, it is a currency that attracts a lot of attention from investors, but since prices do not continue to rise, the rate of decline in the event of a reversal is unpredictable.

On the other hand, NFT-related stocks are still attracting attention even after the collapse of the Bitcoin bubble, and are promising currencies.

AXS outlook and price forecast for 2022 and beyond

The outlook for AXS after 2022 is as follows.AXS Price Outlook / Factors

  • Price may rise due to the introduction of staking
  • Future Axie Infinity updates may increase prices
  • Prices may rise as more exchanges handle

Let’s take a closer look at each factor.

Price may rise due to the introduction of staking

AXS has been announced that staking will be possible in the future, and the price may rise when the introduction of staking is started .

Staking is a mechanism to receive rewards as compensation by holding the target virtual currency and participating in the blockchain network.

Currencies that can be used for staking tend to be expensive because you can get rewards just by owning virtual currency.

AXS is also likely to be expensive when staking is introduced.

Future Axie Infinity updates may increase prices

AXS is a virtual currency that can be used in the NFT game “Axie Infinity”.

In other words, the possible reason for the price increase of AXS is the increase in the number of users of “Axie Infinity” .

As the number of users of “Axie Infinity” increases, the exchange of currencies in the game will increase, which will inevitably increase the demand for AXS.

In order to increase the number of users of “Axie Infinity”, it is necessary to increase the satisfaction of many users by updating the game.

Therefore, by checking the news such as future “Axie Infinity” game updates and feature additions, you will be able to find out the factors that change the price.

Future price forecast for AXS

Wallet Investor , which forecasts the price of virtual currencies, forecasts the price of AXS as follows.

Yearprice
2021 price forecastUS $ 31.273
2022 price forecastUS $ 66.678
Price forecast for 2023US $ 98.309
Price forecast for 2024US $ 140.259
Price forecast for 2025US $ 195.360

Price forecasts for the end of 2021 are negative, and we expect prices to plummet once this year.

There are concerns about a reversal due to the sharp rise in prices, and prices are expected to drop to US $ 31.273 by the end of 2021 .

However, we expect prices to rise in the long run.

By the end of 2022, the price will return to the current level, and after that, the price will continue to rise and is expected to rise by about + 50% every year.

In addition, coindesk.com , one of the largest cryptocurrency media in the United States, covers the views of two experts on the future of AXS.

ExpertOpinion
Denis Vinokourov
Synergia Capital, Quants Financial Management Company, London )
-Although ecstatic crowd psychology has raised valuations extremely, price fluctuations are extremely volatile if unwinding occurs, as seen in any overcrowded transaction.
• Partly because the market is still in its infancy, it is difficult to determine if AXS will continue to generate revenue at its current high levels without further data.
Investors may not hesitate to jump from one of the most popular to another, similar to the yield farming boom earlier this year.
Renikkusu Lai (Lennix Lai) Mr.
encryption assets Exchange Okay X )
-Because the ratio of long / short between active purchases and active sales of AXS in Binance, FTX and OKX is relatively balanced, more institutional investors than individual investors are short to AXS. May be in a position-Even
if the fund has several short accounts, many long accounts can outperform AXS, the long-short rate is positive and the funding rate is It is possible that it will be negative

As mentioned above, Dennis Binokolov said that the future of AXS is uncertain and there is a concern that it will change without hesitation if another cryptocurrency trend comes.

On the other hand, Renix Lai points out that institutional investors’ short positions are outweighed by individual investors’ buying support, and said that it will affect the rise in AXS prices.

Although their views are different, it can be expected that prices will rise and fall.

Summary of future outlook for AXS

This time, I explained the future outlook of AXS.Summary of this article

  • AXS is a virtual currency that started handling in 2020
  • A currency that can be used in NFT games called “Axie Infinity”
  • You can earn AXS by playing the game
  • It is a stock whose price soared in 2021, and has recorded over 10,000% since the beginning of the year.
  • Expectations for currencies and NFT games are high, but prices may fall in response to the surge.

AXS is a stock whose price has skyrocketed earlier this year, and it can be said that it is a currency that has received a lot of attention.

However, you need to be careful when trading because it also includes risks due to the price rising too much.

In addition, NFT-related stocks are also attracting attention due to the sharp rise in AXS.

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