Non-fungible tokens (NFTs) have taken a grip on the world over the last year. It seems like nowadays everybody’s minting or buying an NFT of their own. The industry is also finding ways to tap into new demographics. Networks like Axie Infinity (CCC:AXS-USD) are doing well to attract a gamer demographic to blockchain technology. And with today’s news, investors are seeking out Axie Infinity price predictions to see how high the NFT play can go.
Axie Infinity is a game in which players can train and fight with creatures called Axies. These Axies are NFTs, meaning each one is unique to its owner. Additionally, the NFTs vary in rarity and can be made more rare by “breeding” them together to mint new tokens. Think of it as a blockchain version of Pokémon.
Moreover, the network presents an opportunity for its users to generate crypto while playing their game. Users earn a token called Smooth Love Potion (CCC:SLP-USD) in lieu of experience points. SLP is a real token that can be bought and sold for real profits, presenting one of the most entertaining ways to generate passive income.
Axie Infinity Price Predictions Soar on Record High
Axie is drawing big interest from investors today thanks to its airdrop and staking announcement. Just last week, Axie developers airdropped 800,000 AXS tokens to community members, an act worth over $60 million. And today, the network is announcing that 12 million AXS have been staked by holders. Of course, that’s quite the milestone for the relatively new network.
The announcement and the airdrop are combining to create a bullish week for AXS holders. Indeed, transaction volume today is up 244% over the average daily volume for the token. The momentum carried the token to a new all-time high this morning as well. AXS posted a price of $155.08 before faltering. Still, the token stands at a 33% gain on the morning.
Investors are wondering just where the AXS token might be headed with such buzz to its name. Let’s take a look at some Axie Infinity price predictions and see what analysts are thinking:
- WalletInvestor thinks AXS is on the cutting edge of a very lucrative space, judging by its 12-month prediction for the token. By October of 2022, the outlet sees AXS hitting $386.42.
- Gov Capital is on the opposite side of the spectrum completely, posting a bearish 12-month price target. The outlet is eyeing a $124.22 value for Axie Infinity come next October.
- Finishing out 2021, the Economy Forecast Agency says Axie Infinity will climb to a high of $177. By next October, the outlet thinks AXS can push through $250.
On the date of publication, Brenden Rearick did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.