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Lately, amid market fluctuations, tokens connected to the metaverse like $AXS, $SAND, and $MANA have demonstrated strong growth. Several elements, encompassing news developments, fundamental characteristics, and technical signals, have jointly contributed to the significant upswing in Metaverse tokens.

In terms of news, a particular bullish factor seems to be intensifying the surge in buying interest for these tokens. This article will delve into fundamental factors driving the surge and provide a price prediction for one of the prominent Metaverse tokens, Axie Infinity (AXS).

Factors and Forces Behind the Surge

The rapid ascent of Metaverse tokens can be attributed to several key factors, including their integration with non-fungible tokens (NFTs). This symbiotic relationship benefits both sectors by opening up new opportunities for value and investment, which in turn, fuels the demand for Metaverse tokens.

This growing demand for Metaverse tokens is fueled by the gaming industry, a strong multi-billion-dollar market. Gamers, already familiar with virtual currencies and digital transactions, naturally gravitate toward Metaverse tokens.

With more gaming companies adopting Metaverse technologies, the value of these tokens is expected to rise in tandem. Notably, major corporations are also recognizing the potential of the Metaverse.

As the value of these tokens continues to soar, the Fear of Missing Out (FOMO) phenomenon further compels investors to participate in the Metaverse trend, creating a self-reinforcing cycle of interest. Everyone wants to be part of what could be the next significant development, and at present, that appears to be the Metaverse.

Axie Infinity’s Journey

Axie Infinity entered the market in 2019, introducing its alpha-phase battle system in December of the same year. Interestingly, this game’s debut coincided with the onset of the global COVID-19 pandemic.

At a time when job losses and home confinement were prevalent, the opportunity to earn income through mobile gaming became an attractive proposition on multiple fronts. Engaging in gameplay offered a means to combat boredom, while the integration of crypto-NFT elements provided a chance to supplement lost earnings.

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Upon its initial launch, Axie Infinity experienced significant success, particularly in the Philippines, where it allowed individuals to participate in gaming with the prospect of earning substantial sums of real money. However, the game’s inherent passivity eventually became a limitation.

Throughout 2022, Axie Infinity witnessed a gradual decline in its popularity. Notably, the game’s daily player count plummeted from 2.3 million a year ago to just 359,254 (averaged over monthly players) as of August 2023.

Despite these setbacks, those with a broader perspective recognize that Axie Infinity can serve as a pioneering step toward enhancing the NFT mobile gaming experience in the future.

AXS Price Prediction

The native cryptocurrency of Axie Infinity, known as $AXS, has experienced a 7.43% surge in the past week. Interestingly, this price increase appears to lack any significant catalysts or official announcements from $AXS’s channels, suggesting that it may be driven primarily by technical factors.

As of September 19th, the price of Axie Infinity stands at $4.52, accompanied by a 24-hour trading volume of $70.03 million and a market capitalization of $375.70 million.

According to technical analysis, the current price of Axie Infinity is expected to experience a slight decrease of approximately -0.59%, reaching $4.57 by September 24, 2023. Presently, the Relative Strength Index (RSI) value is at 43.61, indicating that the $AXS market is in a neutral phase.

To get a comprehensive $AXS price prediction analysis, you can watch the video above. For additional cryptocurrency-related content, consider subscribing to his YouTube channel. Jacob Crypto Bury also manages a Discord community with 17,000 members, offering trading tips and information about upcoming crypto presales.

Conclusion

Despite the usual negative impact of market turbulence on investments, Metaverse tokens are defying the odds and experiencing a remarkable surge in value. This surge can be attributed to a combination of factors, including the growing appeal of virtual real estate, increased corporate adoption, and valuable insights from on-chain data.

While some tokens are grabbing the spotlight with their impressive performance, others are quietly and consistently generating gains. For instance, Decentraland (MANA), a platform enabling the creation and interaction with 3D content in a decentralized manner, has achieved an impressive 11% growth over the past seven days.

The emergence of play-to-earn games represents a groundbreaking development in the blockchain gaming sector, promising to revolutionize how individuals engage with in-game economies. These games prioritize the principles of an open economy, ensuring that players who contribute value to the gaming ecosystem are duly rewarded.