Axie Infinity Raises $860K While Their AXS Token Rises 55% In The Last 24 Hours
October 02 2021 - 6:19AM
NEWSBTC
The Axie Infinity team is making moves. On the one hand, they
raised $860K “through a strategic sale of our governance token,
AXS.” On the other, they announced an in-game decentralized
exchange and their AXS increased in prize by 55% in the last 24
hours. Great numbers all around that would satisfy and attract any
investor. And speaking about satisfied investors, their original
backers were the people invited to Axie Infinity’s private sale.
Related Reading | New To Bitcoin? Learn To Trade Crypto With The
NewsBTC Trading Course Let’s digest all that part by part. Axie
Infinity ‘s $860K Private Sale The terms of the “strategic sale”
state the following: “Axie Infinity raised $864,000 in a private
sale of AXS to strategic investors in the middle of 2020. These
investors purchased AXS at a 20% discount. 20% of the private sale
tokens will be unlocked during the AXS public sale. The rest of the
private sale tokens will be unlocked quarterly over the next 2
years.” In the press release, they disclosed the investors: Arca
Three Arrows Capital DeFiance Capital DeFi Capital Sparq Ventures
Animoca Brands Hashed Dialectic as well as angel investors:
Alexander John Amsel Alex Svanevik (Nansen) Bashylok Oleksander The
investors seem extremely satisfied. In a recent tweet, DeFiance
Capital’s Zhu Su announced Axie Infinity and their Axie Infinity
Shards (AXS) are the company’s most profitable seed investment by
far. “Craziest thing is at the time of the round, it was so
undersubbed that many people invested just to support ecosystem
without any expectation of returns,” he adds for color. $AXS
@AxieInfinity I think is now @DeFianceCapital best seed investment
ever and it's not even close Craziest thing is at the time of the
round, it was so undersubbed that many people invested just to
support ecosystem without any expectation of returns World is
unbound growth — Zhu Su 🔺 (@zhusu) October 2, 2021 The Great AXS
55% Rise According to Chinese journalist Colin Wu, “Axie Infinity
is launching a decentralized exchange and its price rose 55% in
24h. However, its trading volume and active users are declining.”
He also said it was “the highest increase among top50 crypto.” At
the time of writing, the number has decreased a little. According
to Coinmarketcap, AXS is “up 42.90% in the last 24 hours.” Axie
Infinity is launching a decentralized exchange and its price rosed
55% in 24h. However, its trading volume and active users are
declining. — Wu Blockchain (@WuBlockchain) October 2, 2021 The
recently announced decentralized exchange will eliminate the need
to leave Axie Infinity to trade tokens. “People want to acquire and
use their tokens from the same place without having to use a bridge
constantly,” growth lead Jeff Zirlin told The Block” That website
broke the Axie Infinity meets DeFi story, saying: “The DEX could
help keep users playing the game because it will remove certain
frictions that exist for players who have to move their tokens off
the platform to trade them. The DEX will be built on Ronin, an
Ethereum-linked sidechain purpose-built for Axie Infinity.” In the
“Strategic Sale” press release, they quote Defiance Capital’s
Arthur0x, who said: “Axie has been building relentlessly since 2018
and we are impressed by their execution so far. Their vision of
combining NFT, gaming and DeFi together is extremely exciting. We
are thrilled to see Axie continue to be at the forefront of
innovation in NFT gaming and DeFi space.” AXS price chart for
10/02/2021 on Gemini | Source: AXS/USD on TradingView.com Epilogue:
Our Prediction Just three months ago, when NewsBTC first covered
Axie Infinity, we predicted: “In the long run, Axie Infinity
could add new features to its game, a new game mode, more
resources. The expansion of this universe is set to provide
cryptocurrencies and blockchain technology with a real-world use
case that nurtures the gaming experience.” Related Reading | Jack
Dorsey Plans to Build A Decentralized Exchange For Bitcoin They did
add new features, just not the ones we were expecting. At
that time, AXS was trading at $17,47. Each token is worth $111.21
nowadays. Featured Image: Axie Infinity screenshot from their press
release | Charts by TradingView
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