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The coin of the Vietnamese game set a new high

The coin of the game Axie Infinity set a new price spike, bringing the total capitalization of that project to 7.3 Billion USD.

On the morning of October 2, the AXS cryptocurrency of the NFT Axie Infinity game project recorded strong growth and set a new high on the price level. 120 USD/Copper. The total capitalization of this project has reached the milestone 7.3 Billion USD.

At the same time, data from CoinMarketCap shows that the 24-hour trading volume of this cryptocurrency has increased by 50% and has reached the milestone 4.3 Billion USD. Currently, Axie Infinity ranks 27th in the ranking of cryptocurrency projects with the largest total capitalization in the world, 3 places more than on September 4th.

On the night of October 2, the price of AXS dropped slightly 114 USD.

When joining Axie Infinity, users will have to spend money to buy animals. This is considered a risky investment. Photo: AXS.

After the correction of the cryptocurrency market on September 7th, the price of the AXS coin fell 48,1 USD and recovered on 09/21. At the current market price, this crypto currency has grown more than twice after the last “crash”.

According to Nikkei Asia, Axie Infinity is considered to be one of the top games on the famous blockchain platform. The team that created the game are Vietnamese programmers.

Behind this game is Sky Mavis, a studio based in Vietnam. According to information from Sky Mavis, this studio was founded in 2018 with a founding team consisting of Nguyen Thanh Trung, Aleksander Leonard Larsen and Jeffrey Zirlin.

Axie Infinity is one of the largest money making games by market cap that allows players to accumulate exchangeable cryptocurrencies. In Lunacia, the game’s virtual world, the player controls creatures called Axies to collect two coins, the Smooth Love Potion (SLP) and the Axie Infinity Shard (AXS).

Currently, the trade in coins in Vietnam is not legally recognized and protected. So when a player deposits money into Axie Infinity to “plow coins”, it is also a risky investment.

Venture capital group founder Vanessa Cao believes that a gambling model like Axie Infinity is inherently unstable and unhealthy.

“Players have to pay hundreds USD kick off. This is a wrong idea. You can’t make someone pay until you know how the game is, ”said Ms. Cao.

A khang

Zing.vn

Annie

Championing positive change through finance, I've dedicated over eight years to sustainability and environmental journalism. My passion lies in uncovering companies that make a real difference in the world and guiding investors towards them. My expertise lies in navigating the world of sustainable investing, analyzing ESG (Environmental, Social, and Governance) criteria, and exploring the exciting field of impact investing. "Invest in a better future," I often say. That's the driving force behind my work at Coincu – to empower readers with knowledge and insights to make investment decisions that create a positive impact.