Home / Price Predictions / Axie Infinity Price Prediction 2024: Does AXS Play-to-Earn Token Have A Future?

Axie Infinity Price Prediction 2024: Does AXS Play-to-Earn Token Have A Future?

Last Updated February 16, 2024 12:11 PM
Peter Henn
Last Updated February 16, 2024 12:11 PM

Key Takeaways

  • Play-to-earn token Axie Infinity has gone through a tough time over the last year.
  • Designed to reward players of the Axie Infinity game, AXS is one of the largest gaming tokens.
  • One Axie Infinity price prediction says it may reach $30.83 next year.

The Axie Infinity crypto token supports its eponymous metaverse game and was launched to much fanfare in late 2020. A year later, as the cryptomarket enjoyed the boost from the NFT fad and metaverse mania, it was worth more than $100.

That said, metaverse coins and tokens suffered massively during the market turmoil of 2022 but, despite signs of a small recovery in 2023, it crashed following the market downturn surrounding the United States Securities and Exchange Commission (SEC) taking the Binance and Coinbase  exchanges to court in June last year.

In December last year, the company announced  Axie Evolution was live. Users of App.Axie can use Atia’s flame to evolve an Axie part with materials.

“Part Evolutions are set to revolutionize the Axie economy by introducing a method to apply deflationary pressure to the Axie population while strengthening the connections we have with our own creatures,” Axie Ifninity said.

However, evolving Axies comes with a cost. Users need the correct amount and type of materials, an ascended Axie, some AXS tokens, and time.

Axie Infinity did not immediately respond to a request for comment.

But what is Axie Infinity (AXS)? What is Axie Infinity used for? Let’s take a look and see what we can find out and also look at some of the Axie Infinity price predictions that were being made on February 16, 2024.

Axie Infinity Price Prediction 

With that all out of the way, let’s take a look at some of the Axie Infinity price predictions that were being made as of February 16, 2024. It is important to remember that price forecasts, especially for something as potentially volatile as cryptocurrency, very often end up being wrong. Also, many long-term crypto price predictions are made using an algorithm, which can change at a moment’s notice. 

2024 2025 2030
Prediction #1 $17.80 $21.05 $60.67
Prediction #2 $13.47 $20.11 $121.75
Prediction #3 $22.72 $30.83 $71.41

CoinCodex  had a short-term Axie Infinity price prediction that said the token would fall to $ 8.13 by February 21 before recovering to $8.23 by March 15. The site’s technical analysis was bullish, with 24 indicators sending positive signals and just six making bearish ones. 

Axie Infinity Forecast for 2024

As far as other AXS price predictions for this year went, DigitalCoinPrice  said that the token could more than double by the end of the year to trade at $17.80. PricePrediction.net  was a bit more cautious, saying AXS would get to $13.47 while Bitnation  was a bit more optimistic, saying that it could be worth $22.72. 

Axie Infinity Forecast for 2025

In terms of Axie Infinity price predictions for 2025 went, Bitnation argued for a future AXS price of $30.83 while PricePrediction.net thought that the token would be worth $20.11. DigitalCoinPrice was even more upbeat about the token’s chances, suggesting it could stand at an average of $21.05.

Axie Infinity Forecast for 2030

When it came to a more long-term Axie Infinity price prediction for 2030, PricePrediction.net said that AXS would be worth $121.75. DigitalCoinPrice said the speed of travel would have slowed a bit, but Axie Infinity would still stand at $60.67, while Bitnation claimed it would be worth $71.41.

Google Gemini Price Prediction for Axie Infinity (as of February 16)

Google’s Gemini platform gave the following price prediction for Axie Infinity on February 16. Please remember that the exact price prediction of an asset or cryptocurrency in the future is nearly impossible to achieve.

Additionally, artificial intelligence price predictions are predicated on past performances and are in no way entirely accurate.

Short Term (Next 3 months)

  • Expected price: $7.59
  • Factors to Consider:
    • Overall Crypto Market Performance: The price of AXS is likely to be influenced by the broader trends in the cryptocurrency market. If the overall market experiences a bullish run, AXS could potentially see some price appreciation. However, if the market experiences a bearish trend, AXS could see its price decline.
    • Adoption and Use of Axie Infinity: Increased adoption and use of the Axie Infinity platform and its AXS token could boost its value. However, a decline in user engagement could put downward pressure on the price.
    • Regulatory Environment: Regulatory changes related to cryptocurrencies could impact the price of AXS positively or negatively.
    • Team Development and Partnerships: Progress made by the team behind Axie Infinity and any new partnerships formed could affect investor confidence and potentially impact the price.

Medium Term (Next 6 months)

  • Expected price: $10.74
  • Factors to Consider:
    • Overall crypto market performance: If the general sentiment in the crypto market improves, AXS could benefit along with other cryptocurrencies. However, if the market experiences a downturn, AXS could fall further.
    • Adoption and use of Axie Infinity: Increased adoption and use of the Axie Infinity platform and its AXS token could boost the price. However, a decline in usage could have the opposite effect.
    • Development and updates: Upcoming updates and developments related to Axie Infinity, such as new features or partnerships, could positively impact the price. Conversely, delays or setbacks could dampen sentiment.
    • Regulatory environment: Regulatory changes related to cryptocurrencies could impact the price of AXS, either positively or negatively.

Long Term (Next 5 years)

  • Expected price: $25
  • Factors to Consider:
    • Overall crypto market performance: The price of Axie Infinity is likely to be influenced by the broader trends in the cryptocurrency market.
    • Adoption and use of Axie Infinity: Increased adoption and use of Axie Infinity within the gaming and play-to-earn ecosystem could boost its value.
    • Regulatory environment: Regulatory changes related to cryptocurrencies or play-to-earn games could impact Axie Infinity’s price positively or negatively.
    • Team development and partnerships: Progress made by the team behind Axie Infinity and any new partnerships formed could affect investor confidence.
    • Competition: Competition from other play-to-earn games or blockchain-based projects could affect Axie Infinity’s market share and price.

AXS Price History

Let’s now take a look at some of the Axie Infinity price history . Although past performance should never be taken as an indicator of future results, knowing what it has done previously can help us if we want to either make or interpret an Axie Infinity price prediction. 

When AXS first came onto the open market in November 2020, it was worth about $0.18. The start of 2021 saw the market flourish and AXS reached a high of $10.85 on 28 April. After that, the market and the token slumped, but the second half of the year brought better news, as the cryptosphere was consumed by fads for NFTs and the metaverse as a whole. When Bitcoin (BTC) reached record levels in November, pretty much every crypto got a boost and Axie Infinity shot up, reaching an all-time high of $165.37 on 6 November. After that, though, things slowed down, with AXS closing the year at $93.30. 

After going up to $97.78 on 3 January 2023, AXS joined pretty much the rest of the crypto market in going downhill in 2022. There were some minor ups to go with the downs, but by early April it was below $50 and, when the markets seemingly went through crashes on a regular basis, it felt like coins and tokens related to the metaverse took the brunt of the losses. AXS closed the year at $6.04, a loss of nearly 95% year-on-year.

Axie Infinity in 2023 and 2024

Axie Infinity price history
Axie Infinity price in 2023 and 2024 | Credit: CoinMarketCap

2023 has offered more encouragement for AXS and, in the first three months, it operated at above $10. After that, it fell back down, with the worst to come following the SEC charges and, on 14 June 2023, it was worth about $5.

It ended 2023 at $8.8445 before starting a downtrend in January, despite it started the new year at $9.2406. It fell to $6.9595 on January 31 and stayed at that level for the first half of February. AXS then bounced back and is worth $8.10 on February 16, 2024.

At that time, there were 137.3 million AXS in circulation, out of a total supply of 270 million. This gave the token a market cap of around $1.11 billion, making it the 68th largest crypto by that measurement. 

Is Axie Infinity a Good Investment?

Axie Infinity helps power an online game and is used to reward successful players. Whether or not it is a good investment depends on a range of things. Firstly, whether it will make a recovery from its current lows, secondly, when it will make a recovery, thirdly, how fast and how far it will recover and fourthly, whether the metaverse can become anything like the hot property it was in the second half of 2021. Until then, it might be best to wait and see how the token does, and whether both the game and the token can make a comeback. Either way, you will need to make sure that you do your own research. 

Will Axie Infinity go up or down?

No one can really tell right now. While the longer-term Axie Infinity token price predictions are, broadly speaking, optimistic, price predictions are very often wrong. Remember, too, that prices can, and do, go down as well as up.

Should I invest in Axie Infinity?

Before deciding whether or not to invest in Axie Infinity, you should make sure that you do your own research, not only on AXS but on other metaverse-related coins and tokens, like The Sandbox (SAND). More importantly, though, you should make sure you never invest more money than you can afford to lose.

Axie Infinity (AXS) Explained

Axie Infinity is a Metaverse game. People can collect non-fungible tokens (NFTs) representing monsters and set them to battle against each other. This way, they can earn the game’s native token, AXS, as a reward. Set up by the Vietnamese gaming studio Sky Mavis, Axie Infinity has become one of the largest games in the Metaverse and the play-to-earn (p2e) sectors. 

The game first made headlines in 2020, when a report  said that  people in the Philippines were earning money through playing the game. However, it appeared that no one picked up on the fact that, not only was the article’s writer was the director  of a company which worked with play-to-earn game companies, including Sky Mavis investor Animoca, but the person named as making money through AXS’ sole social media presence was a Twitter  account, set up after the piece was published and not updated since early 2021. 

It may well be that the initial interest in Axie Infinity may have been down to some seriously poor media literacy. 

How Axie Infinity Works

AXS is a token which is used to earn rewards in the Axie Infinity game. Players who battle in the system can earn AXS and another crypto, Small Love Potion (SLP). AXS can also be bought, sold, and traded on exchanges.

Something else you should know about AXS is, because it is based on the Ethereum (ETH) blockchain, it is a token, rather than a coin. You might see references to such things as an Axie Infinity coin price prediction, but these are wrong. 

Axie Infinity Attention Tracker

Axie Infinity Google search volume
Axie Infinity Google search volume | Credit: Google

Here is a chart for the Axie Infinity Google search volume for the past 90 days. This represents how many times the term “Axie Infinity AXS” has been Googled over the previous 90 days.

FAQs 

How many Axie Infinity are there?

As of February 16, 2024, there were 137.3 million AXS in circulation, out of a total supply of 270 million.

Can Axie Infinity reach $100?

It might do, but it is not likely to happen for a little while yet. PricePrediction.net said that it thought AXS would break through the $100 mark in 2029.

Keep in mind that the token has traded at over $100 before, with it reaching an all-time high of $165.37 on 6 November 2021.

Can you make money with Axie Infinity?

Theoretically, you can. The game rewards winners with AXS and SLP tokens, which can be bought, sold, or traded on exchanges. However, in order for you to actually make any meaningful money with AXS, you would need to be very lucky and you would probably also have to wait for the price of the tokens to go back up.

Disclaimer 

Please note that the contents of this article are not financial or investing advice. The information provided in this article is the author’s opinion only and should not be considered as offering trading or investing recommendations. We do not make any warranties about the completeness, reliability and accuracy of this information. The cryptocurrency market suffers from high volatility and occasional arbitrary movements. Any investor, trader, or regular crypto users should research multiple viewpoints and be familiar with all local regulations before committing to an investment.