If you know the cryptocurrency market, you may have heard of the term “NFT” before. NFTs, short for non-fungible tokens, can be used in the digital world to designate ownership. If you are interested in learning more about how and where NFTs can be bought and applied, read more about how the e-game Axie plays a role in the distribution of NFTs.
The e-game, Axie, centers on Pokemon-like characters with fighting and breeding abilities, who strategically face challenges and tasks to move forward. What sets it apart from any other e-game is that aside from earning gems or gold bars, players are open to the possibility of something valuable. Axie, the blueprint for this “GameFi” trend, has generated over $2 billion in trading volume. Several other e-games that are promising crypto are becoming more popular. Alas, nothing will surpass Axie right now in the digital world.
Axie’s Relation With Metaverse
Games like Axie pave the way for other e-gamers to understand why this concept of earning crypto can be valuable. There’s no specific way to show the number of people who play to gain the benefits, but this game’s signs and upward trends support its actions. The relationship between e-games and digital wallets, which are used to receive and store crypto, has only just begun to grow stronger.
The metaverse and all of its possibilities demonstrate the potential to change the way we work, earn, and spend money. Not only is it the new way to illustrate the future of our earnings, but it displays the fundamental ways in which we live, plan, and even operate on a day-to-day basis. The metaverse will transform the way capitalism runs throughout the world.
Metaverse’s Relation With NFTs & Crypto
Non-fungible tokens are digital certificates that distinguish your ownership of items in the digital world. Some NFTs can sell for thousands or even millions of dollars. Although there are some extremes, the common denominator is that the majority have no outstanding economic value or the command for a high price.
When it comes to Axie, specifically in the metaverse, players have to buy NFTs before their gameplay. These NFTs, called Axies, are how NFTs are included in the game. The process of playing Axie begins with the minimum entry fee of $900. This is the price of three Axies, each sold around $300. These are paid for in Ethereum, which is the second largest cryptocurrency by market capitalization next to bitcoin. To start playing, you need to be confident that your deposit is worthwhile. To no surprise, many people who have a significant amount of Ethereum are more than happy to begin playing, and some even sponsor teams of other players to improve their return on investment.
Axie has become the single most valuable collection of NFTs anywhere yet. If you’re interested in learning more about how NFTs can apply to other digital aspects in the world of cryptocurrency, contact Luxolo Financial today. To get started, call us at (207) 298-2085 or fill out a contact form today. We look forward to working with you.
Written by Guest Author & Research Analyst: Kristina Galvin