Tuna Chain is a modular Layer 2 solution that functions on Bitcoin while also integrating with Ethereum. Learn more about how it works in this article.

 is rightfully known for its security through its use of 

 offers greater versatility. Until recently, blockchain projects had to choose between the two. Now, however, a hybrid solution is available that blends the benefits of both of these leading blockchains and takes a bold leap into the future.

 that functions on Bitcoin while also integrating with Ethereum.

) is strongly rooted in elevating the user experience (UX). Bitcoin is the most trusted cryptocurrency, largely due to the recognized strength of its security protocols. However, while it excels in security, it lacks the versatility that ultimately fosters innovation. In this regard, Ethereum is viewed as a superior blockchain. 

Tuna Chain’s modular Layer 2 solution works on Bitcoin through a 

 hybrid layer while offering Ethereum functionality. It uses 

-powered modularity to minimize transaction costs. At the same time, this modularity improves both trust and efficiency. Tuna Chain currently supports Solana, Ethereum and Bitcoin transactions. It works with Bybit, Phantom, MetaMask, UniSat Wallet and OKX Wallet.

Tuna Chain is a new project that was established by three unknown individuals, known under the names of Tuna Nigiri, Tuna Sushi and Tuna Sashimi. Each team member brings their unique experiences and knowledge with blockchain, cryptography and 

 to move Tuna Chain forward. Tuna Chain is financially supported by BSC News, Normie Capital, Serafund, ArkStream Capital, Cogitent Ventures, MH Ventures and other angel investors. After its Ocean Festival and Ocean Trio, Tuna Chain now has over 1.3 million wallets connected on the Tuna Chain Testnet, with a total 

The purpose of Tuna Chain is to bridge the gap between Bitcoin and Ethereum. Although Bitcoin’s chain boasts superlative security, it lacks the versatility that Ethereum’s 

 provides. As a hybrid Layer 2 solution, Tuna Chain’s primary goal is to blend the two. By doing so, its founders want to push the envelope on the future of blockchains and provide a better UX.

Tuna Chain’s functionality is based on three core features: the Toro native 

, Celestia-powered modularity and a hybrid ZK-OP layer. With the Toro stablecoin, users can purchase new digital assets through the overcollateralization of their BTC supply. Meanwhile, Celestia-powered modularity improves data availability, and the ZK-OP hybrid layer executes smart contracts with fast, secure transactions.

Rollup Solutions and Operational Mechanism of Bitcoin Layer 2

Layer 2 solutions similar to those found on Ethereum enhance Bitcoin's scalability, using technologies such as 

 (ZK). Tuna Chain enhances Bitcoin's transaction capacity by integrating optimistic rollup technology into its Layer 2 framework.

Securing Native Assets on Bitcoin: Leveraging Taproot's Upgrade

 upgrade into the Bitcoin network marks a significant advancement in the security of its native assets. This update incorporates advanced cryptographic techniques, such as Schnorr Signatures, MAST and Tapscript. To further secure these assets, Tuna Chain has implemented a multisignature security model and is exploring the addition of external validators to its network security protocols.

Tuna Chain processes transactions through a detailed system that begins with the precise arrangement and execution of transactions. These are then reliably recorded on 

's data availability layer and conclusively verified on the Bitcoin blockchain. Verifiers are essential to the chain's integrity, quickly producing fraudproofs to address any transaction discrepancies and ensure the network remains secure and reliable.

Tuna Chain is a next-level Layer 2 solution that moves blockchain into the future. Each of its core features provides unique benefits to support a superior UX. 

Tuna Chain uses Celestia-powered modularity to optimize its Layer 2 functionality. Specifically, this modularity is supported by Layer 2 data management that enhances trust, improves efficiency and reduces transaction fees.

The ZK-OP Layer is Tuna Chain’s hybrid Layer 2. This layer utilizes a dual-phase architecture that integrates Ethereum’s benefits with those of Bitcoin. By doing so, it empowers smart contracts and accelerates secure transactions.

 is a grand opening event celebrating Tuna Chain’s launch. During this grand opening, the first round of TUN tokens will be distributed. Distribution cap for this initial release is based on 

 growth driven by the community, and could range between 2% and 21%. The token supply increases by 2% as each new milestone is achieved.

, the setup experience for new community members, consists of Calm Waters, Whimsical Tides and Majestic Depths. With Calm Waters, new users can receive 60 points for following Tuna Chain on social media and linking their wallet. Additional points are available by referring friends to Tuna Chain. Whimsical Tides, the testnet phase, is still in development along with Majestic Depths.

In the first quarter of 2024, Tuna Chain successfully completed several milestones, including the launch of the Tuna Testnet — Alpha, Ocean Trio Points campaign, Ocean Festival (which highlights the TVL) and the rollout of the TunaChain Explorer. 

Moving into Q2 2024, progress is ongoing with significant developments. Tuna Chain’s team is currently deploying an optimistic rollup (OP)-based Mainnet, establishing a native bridge from Bitcoin to the Tuna Mainnet, launching a Mainnet decentralized exchange (

), and developing a modular data availability (DA) layer.

Tuna Chain functions with three primary tokens: TORO, TUNA and WOOG. Each serves a different and integral role.

TORO, Tuna Chain’s native stablecoin, helps users transform their BTC into their choice of high-yield digital assets. This is accomplished seamlessly and with full transactional stability. The user doesn’t need to liquidate the BTC to complete the transaction.

 of Tuna Chain, is used for various purposes, such as revenue generation, funding builders and contributors, benefiting token holders, incentivizing users and community members, and promoting community engagement within the Tuna Chain ecosystem.

TUNA has a total token supply of 210,000,000.

 token that acts as the primary ticket into the Tuna Chain ecosystem. Only 200 of 1,000 available WOOG tokens were distributed at the BRC-20 Launchpad event. The remaining WOOG will be distributed only when they’re activated by external forces.

Looking to get your hands on the TUNA token? Bybit will soon offer it via our 

In the meantime, you can also purchase TUNA through 

WOOG tokens grant access to the Tuna Chain ecosystem. Of the total supply of 1,000 tokens, only 200 are currently scheduled to be released. These tokens are exclusively available through the 

. There’s a purchase limit of one WOOG token. While 800 WOOG tokens will remain, they’re sealed, and their release isn’t scheduled. You must have an active Bybit account with a funded wallet to participate in the event. 

TUNA tokens play a fundamental role in governance of the Tuna Chain’s unique hybrid Layer 2 chain, designed to deliver the benefits offered by both Bitcoin and Ethereum. Tuna Chain is presented as the future of blockchain, and is poised to change the blockchain landscape in exciting ways, which could place a premium on TUNA tokens. 

As an investment, TUNA should be purchased conscientiously because the value of the tokens will decrease when additional tokens are released, even for a short period of time. In addition, all cryptocurrencies are speculative in nature, with a risk of partial or complete loss. Therefore, 

 cryptocurrencies before making an investment.

Tuna Chain is a hybrid Layer 2 solution that provides a much-needed service in the blockchain world. By bridging the gap between Bitcoin and Ethereum, it allows users to enjoy the best of both worlds. In doing so, it has the potential to move the dial forward significantly in blockchain technology. Moving forward, Tuna Chain is a platform worthy of attention.

Intermediate

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Tuna Chain (TUNA): Reinventing Bitcoin With a ZK-OP Approach

Notable Ethereum Spot ETF applications have come from high-profile issuers that received approval for Bitcoin Spot ETFs earlier this year. Learn more here.

The cryptocurrency landscape could be on the brink of a major shake-up as several Ethereum spot exchange-traded fund (

) applications await regulatory approval. These financial instruments promise to bridge the gap between traditional investment markets and the fast-growing world of digital assets, offering investors a regulated and accessible means for gaining exposure to 

This article explores the top pending Ethereum Spot ETF applications, exploring their significance, potential impact on the market and implications for the broader adoption of cryptocurrencies.

What Is an Ethereum Spot ETF Application?

An Ethereum Spot ETF application is a filing submitted to regulatory bodies, such as the U.S. Securities and Exchange Commission (SEC), to list an exchange-traded fund that tracks the price of Ether (ETH), allowing investors to gain exposure to the cryptocurrency without directly holding it.

How Does an Ethereum Spot ETF Application Work?

An Ethereum Spot ETF application is a formal request by a financial institution to gain regulatory approval to offer a financial product that tracks the price of Ether (ETH), the second-largest cryptocurrency and the token of the Ethereum network, in real time. 

Investors can participate in the ETF by purchasing shares through their brokerage accounts. This way, they can gain exposure to Ether's price movements without the complexities associated with directly buying or holding the cryptocurrency. The ETF provider assumes responsibility for securely holding the Ether, managing the fund's day-to-day operations and ensuring ongoing compliance with regulatory requirements.

Current Ethereum Spot ETF Application Landscape

, Fidelity, VanEck and ARK 21Shares have all thrown their hats into the ring by submitting applications to the SEC for approval. These particular issuers have previously applied to run Bitcoin Spot ETFs that are currently approved and trading.

However, the SEC has pushed back on the recent Ethereum Spot ETF applications, prolonging the decision-making process. They've also sought public feedback in order to gauge whether the arguments supporting the approval of Bitcoin Spot ETFs are applicable to Ethereum Spot ETFs as well.

Anticipation has continued to build with the approach of the final deadlines for the SEC's decisions, set for between May 23 and Jul 5, 2024 for various applicants. The SEC's review process involves assessing factors such as the potential for market manipulation and the resemblance between Ethereum spot and futures exchange-traded products.

The outcome of these applications holds significant weight, as it could shape the future landscape of cryptocurrency investment vehicles and play an important role in driving broader adoption of Ethereum within traditional financial markets. Investors and observers alike are closely monitoring these developments, recognizing their potential to influence the trajectory of both Ethereum and the wider crypto market.

Top High-Profile Ethereum Spot ETF Applications

Several high-profile financial institutions have applied for Ethereum Spot ETFs, reflecting a growing interest in cryptocurrency investment products. Following is a list of some notable contenders.

BlackRock, a global investment giant and the world’s largest asset manager, submitted its 

 Ethereum Trust, in November 2023. However, the SEC postponed its decision to late January 2024 and again to March. The SEC is currently seeking public comment on the application, particularly concerning Ethereum’s susceptibility to fraud, and has delayed its decision until Jun 11, 2024.

Franklin Templeton, another major player in the investment world, 

 for an Ethereum Spot ETF in February 2024, making it the latest contender to join several other firms in the race. The SEC has delayed the deadline to June 2024 to rule on the firm’s application. If approved, the fund will be listed on the Chicago Board Options Exchange as Franklin Ethereum ETF.

Known for its ETFs and mutual funds, investment management firm VanEck has expressed doubts about the SEC's approval of its Ethereum Spot ETF application, 

 in July 2021. Although the SEC’s decision is expected in May 2024, VanEck’s CEO has voiced his skepticism of approval by the May 23, 2024 deadline, citing the regulators' ominous silence. Notably, VanEck holds the distinction of being the first investment management firm to file an ETH Spot ETF application in the United States.

21Shares specializes in cryptocurrency exchange-traded products (

), while ARK Invest focuses on thematic investing. The two firms 

 for the ARK 21Shares Ethereum ETF in September 2023, with the SEC expected to decide by May 24, 2024. The application has been 

 to include a cash-creation model, and has proposed plans to stake a portion of the ETF’s Ether for generating additional income.

A global asset manager focused on cryptocurrencies, Hashdex 

 with the SEC in September 2023 to list and trade shares of the 

 its decision on the application, with a verdict expected by late May 2024.

Grayscale is the world’s largest digital currency asset manager, with a range of investment products that provides exposure to cryptocurrencies and the digital currency asset class. The firm 

 its Grayscale Ethereum Trust into an Ether Spot ETF in October 2023. The SEC extended the review period, setting a new deadline for June 2024. 

Invesco, an investment management firm, has partnered with Galaxy Digital, a diversified financial services firm, to create a 

 for an Ethereum Spot ETF to be named the Invesco Galaxy Ethereum ETF. The SEC's decision, expected in December 2023, has been 

Fidelity Investments is a major financial services corporation with a global presence and millions of customers. Fidelity first filed for an Ethereum Spot ETF in November 2023. It later 

 its application in March 2024 to include ETH staking, which would allow investors to earn additional income from staking rewards. The SEC has set a deadline of May 23, 2024 to approve or deny the application.

What Could Happen If an Ethereum Spot ETF Application Is Approved?

The approval of an Ethereum Spot ETF application holds significant implications for the cryptocurrency market.

Approval of an Ethereum Spot ETF could mark a significant milestone for the crypto market. It would greatly improve Ethereum's accessibility, bolster market confidence and potentially drive up Ether’s price. In addition, such an approval would represent a new milestone in cryptocurrency adoption, providing investors with a regulated and easy avenue for investing in Ethereum. Nevertheless, regulatory hurdles and market volatility are variables that could influence the timing and magnitude of the approval of the pending applications.

ethereum spot etf applications featured image

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An Overview of the Top Pending Ethereum Spot ETF Applications

Stripe is reentering the cryptocurrency market by allowing merchants to accept payments in USD Coin (USDC) on Ethereum, Solana, and Polygon networks

The SPX index is down 0.46%, influenced by disappointing economic data indicating a slowdown and persistent inflation, along with poor earnings from companies such as Meta Platforms and IBM. The broader cryptocurrency market is up, with Bitcoin and Ether rising by 1.12% and 1.45%, respectively in the past 24 hours.

Today’s outperformer is W, which jumped 16.1% after Wormhole launches Native Token Transfers for seamless W token interoperability across blockchains.

Wormhole (W), launched in 2020, is a cross-chain protocol that facilitates communication and token transfers across over 30 blockchain networks. Originally a crypto bridge between Solana and Ethereum, it has expanded to include features like the Portal token bridge and messaging protocols, serving as a comprehensive platform for cross-chain interactions. Wormhole has launched Native Token Transfers (NTT) to enable seamless transfers of the W token across blockchains like Solana and Ethereum without needing liquidity pools. This innovation supports Wormhole's introduction of a multichain governance system and W staking, enhancing the token's functionality and security across diverse ecosystems. NTT marks a key step in Wormhole's roadmap, advancing its commitment to interoperability and decentralized, flexible token usage.

Check Out the Latest Prices, Charts, and Data of 

Stripe is reentering the cryptocurrency market by allowing merchants to accept payments in USD Coin (USDC) on Ethereum, Solana, and Polygon networks starting this summer. Originally, Stripe accepted Bitcoin in 2014 but discontinued this option in 2018 due to increasing costs. The new initiative will support USDC transactions that are automatically converted to fiat currency for merchants, aiming to enhance global payment accessibility, particularly for those without traditional banking facilities. This marks Stripe's continued interest in the evolving potential of cryptocurrencies.

Bitcoin's price showed volatility near $64,000, influenced by reduced ETF inflows and a market tug-of-war. U.S. inflows slowed, ending a streak for BlackRock’s iShares Bitcoin Trust. Meanwhile, Morgan Stanley may soon enable direct broker recommendations for Bitcoin ETFs, potentially increasing demand. In contrast to U.S. regulatory hesitations, Hong Kong is launching three spot BTC ETFs. Despite these fluctuations, Fidelity Digital Assets remains optimistic, citing an increase in smaller Bitcoin wallets as a positive indicator of broader adoption.

The Aethir Cloud Drop campaign features an airdrop that is accessible through various activities, including purchasing Aethir Checker nodes, engaging on social media, participating in quizzes, referring friends, and being part of certain NFT/token communities. Eligibility for the airdrop is determined by a badge and quest system. More details are provided on their website and Twitter page.

Beginner

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Stripe Reintroduces Crypto Payments with USDC Support on Multiple Blockchain Networks

Merlin Starter (MSTAR) is an IDO launchpad and accelerator dedicated to supporting Layer 2 projects for Bitcoin native asset applications.

Over the last couple of years, projects aiming to develop the wider Bitcoin (

) crypto ecosystem have been gaining more attention in the crypto industry, taking some focus away from 

-based initiatives. With the arrival of projects such as 

, one might even say that the Bitcoin ecosystem is experiencing a kind of innovative development that characterized Ethereum's heyday between 2015 and 2020.

Among the projects driving this phenomenon are Merlin Chain (MERL) and its integral Merlin Starter (MSTAR). Merlin Chain is a Bitcoin Layer 2 (L2) platform committed to supporting utilization and enhanced liquidity for Bitcoin native assets, while Merlin Starter, a Bitcoin-focused 

 and L2 project accelerator, is a core part of the wider Merlin ecosystem,

 (MSTAR) is an IDO launchpad and Layer 2 accelerator dedicated to supporting promising Bitcoin-focused decentralized projects.

 It's an integral part of the L2 Merlin Chain (MERL), designed to facilitate a seamless flow of Bitcoin native assets across various protocols in the Bitcoin ecosystem. Merlin Starter aims to support projects dedicated to enhancing the circulation and liquidity of Bitcoin native assets, both on Merlin Chain and across a variety of Bitcoin-focused protocols and networks.

Founded in 2023, the Merlin project launched its operations in early 2024, with Merlin Starter's native MSTAR token debuting in mid-April 2024.

Merlin Starter is made up of two main components — an 

 launchpad and a Bitcoin Layer 2 project accelerator. Additionally, the 

 NFT collection is a critical element within the project's ecosystem.

The IDO launchpad on Merlin Starter facilitates the launch of projects dedicated to native asset issuance, enhanced 

 and free asset circulation for the Bitcoin ecosystem. It's the first native launchpad of the Merlin platform. The launchpad also supports new projects that explore cross-chain functionality and focus on enabling Bitcoin native assets across different platforms.

As of late April 2024, the launchpad is still in the early stages of its operation, but already lists a couple of initial projects that it’s helped to launch. The most recent of these is Sparkle (FCFS), a gamified astrology app.

The Merlin Starter launchpad offers a number of different token launch modes, including 

, oversubscription lotteries and allocations based on preset weightings. A variety of token standards are supported, including the highly popular 

 and ERC-20 as well as the less common BRC-420, ERC-404 and Atomicals (ARC-20). Standards supporting cross-chain assets may also be available. 

Merlin Starter’s IDO launchpad also features an insurance protocol that helps protect investors from either 7-day or 14-day loss.

While the Merlin Starter IDO launchpad is dedicated to facilitating the launch of new tokens, its accelerator is an initiative aimed at providing consultancy and support to L2 apps and protocols at the pre-launch stage, as well as in the critical post-launch period.

Via the accelerator, the Merlin Starter team offers multidisciplinary consultancy services in areas such as technical support, marketing strategies and initiatives, human resources and 

Merlin's Spellbook is an NFT collection issued by Merlin Starter. Spellbook NFTs grant holders eligibility for a 20,000,000 MSTAR token airdrop, should they choose to stake the NFT. Staking a Spellbook NFT in exchange for MSTAR locks the NFT, and the NFT is subsequently burned. As an NFT staker, you may also qualify (depending upon random selection) for IDO whitelist entries.

At the center of the wider Merlin ecosystem, Merlin Chain is an L2 platform dedicated to enabling cross-chain applications utilizing Bitcoin native assets. Although it operates as a dedicated Bitcoin L2 network, Merlin Chain also offers 

 (EVM) compatibility in order to better support cross-chain use cases.

 network, which allows it to achieve significant scalability and cost efficiencies. The average block time on the chain is less than one second, while the average transaction fee is measured in tiny fractions of a cent.

Merlin Starter's native crypto, MSTAR, is a recently launched token (April 2024) that’s used for the following functions on the IDO launchpad:

The token's maximum and total supply is 1 billion. Supply allocation shares for MSTAR are shown in the chart below.

You can buy the MSTAR token on Bybit through a Spot pair with USDT (

). Additionally, you can join Bybit's MSTAR campaigns to grab a share of the 

The first campaign, MSTAR Community Airdrop Quest, runs through May 10, 2024, 8AM UTC. It’s offering a total prize pool of 8,900,000 MSTAR, featuring a 7,000,000 MSTAR community airdrop, a 1,000,000 MSTAR referral prize pool and an exclusive affiliate referral event with a 900,000 MSTAR prize pool. The second campaign, Token Splash, is being held through Apr 30, 2024, 9AM UTC, with a 2,800,000 MSTAR prize pool.

As a plethora of projects such as Merlin Starter look to extend Bitcoin's functionality, its blockchain is steadily moving away from a passive state of use that’s reserved for asset transfers and storage. Merlin Starter is contributing a great deal to putting Bitcoin native assets to use in various apps and protocols.

While Merlin Chain is doing the critical job of enabling the actual utilization of assets via its Layer 2 network, Merlin Starter is a pivotal endeavor aimed at supporting numerous new projects looking to make Bitcoin a more active crypto environment. The more of these projects we see, the more likely it is that Bitcoin will develop into a thriving ecosystem that could rival Ethereum’s. To achieve such a goal, Merlin Starter is exactly the catalyst the industry needs.

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Merlin Starter (MSTAR): Empowering Startups and Innovation

Altcoins

Crypto

GameFi

web3

Axie Infinity is a play-to-earn crypto game where players can collect NFT pets through battles and raise land-based kingdoms for their pets. Learn how you can translate your gaming skills into crypto.

Axie-Infinity-in-game-pets.jpeg

Axie Infinity is a blockchain game that is partially operated and owned by the players. As the players earn AXS tokens, they can decide the future of the game. The game’s core has been drawn from Pokémon, except that Axies — the monsters that players create in the game — are NFTs bred by collecting Smooth Love Potion and AXS tokens. Since Axie is a creation of real-world effort and time, it has a specific value, allowing players to trade in-game “monsters” for money.

In this guide, you’ll learn everything about Axie Infinity, including its native token AXS functions and how digital pets work. Ultimately, you’ll get a good grasp on how you can play to earn crypto.

Axie Infinity is a play-to-earn blockchain-based game where players can collect, battle, build or raise land-based kingdoms for the pets they’ve created. 

, the game lets players interact with each other in the Axie Infinity ecosystem, where they win AXS tokens as rewards for their performance in the gaming universe. This crypto play-to-earn game was created by a company called Sky Mavis. 

Third parties can access Axie’s genetic data and art assets, letting community developers build their personal experiences into the game’s universe. Currently, Axie Infinity is the #1 Ethereum game with respect to monthly, weekly and daily active users. It has generated over $16 million in revenue or an equivalent of 13,000 ETH.

Players can earn AXS tokens in the following ways:

Before learning how NFT games work, you need to know what NFTs are. NFTs, or 

, are unique digital assets representing real-world items such as videos, music and art.

Typically, NFTs are bought and sold online and have similar underlying software as cryptocurrencies. While most people are only becoming aware of them now, NFTs first entered the 

Today, they’ve become a popular means of investing and selling digital work. Through 2017,

 had been spent on non-fungible tokens worldwide.

So, what does the term “fungible” mean? Basically that the item is unique, and you cannot replace it with something else.

For instance, cryptocurrency is fungible. If you have a 

, you can exchange it with another Dogecoin, and the two will be exactly the same. However, a non-fungible item is one-of-a-kind, which creates digital scarcity — thus accounting for the high price of an NFT.

Think of an NFT as a collector’s item, but digital. For example, a personal autograph from Audrey Hepburn or the original diary of Anne Frank is a collector’s item. These objects cannot be replaced, nor can there be any more items exactly like them. NFTs are just like that but in a digital format.

When Jack Dorsey founded Twitter, he wrote his first tweet, “just setting up my Twitter,” in 2016. There have been millions (if not billions) of tweets since then, but there will only always be a single “first-ever” tweet.

That’s why it was sold as an NFT for a 

 to the CEO of Bridge Oracle, Sina Estavi.

Every Axie — the in-game digital pet in the Axie Infinity game — are NFTs with unique characteristics and build. Since no two Axies are the same, they are non-fungible.

, players can build Axie teams and conquer enemies. Depending on their genetic makeup, each Axie has unique strengths and weaknesses.

Since there are billions of different genetic combinations, no two Axie NFTs will be the same.

Players have to buy three Axies to start playing. The cheapest Axie NFT is around $200, while the 

Players earn AXS coins through their contribution and performance in the game. Once you’ve bred an Axie, it’s an NFT that can be sold in the marketplace. The play-to-earn model has given Axie Infinity immense popularity in developing countries.

Axie Infinity vs. Axie Infinity Shard (AXS): Differences

In early 2021, Axie Infinity introduced Axie Infinity Shard to become the first game truly operated and owned by its players. According to their white paper, “Axie Infinity Shards (AXS) are an 

AXS holders can stake their tokens, participate in governance votes and play the game. The developers claim that Axie Infinity Shards will help accomplish the following goals:

Axie Infinity Shard doesn’t differ from Axie Infinity, since the incentive is a part of the game and offers a way other than NFT creation for the players to earn rewards. Players can make AXS through “user-generated content initiatives” and by playing games in Axie Infinity.

SLP or Smooth Love Potion are tokens that Axie Infinity players can earn in adventure and battle modes. You can earn SLP by completing daily quests, like winning ten times in single-player adventure mode or opening the game once daily.

These tokens can be further used to breed Axies. Players can breed their first Axie for 100 SLP, and the cost increases after that. The second Axie is bred for 200, the third for 300, the fourth 500, the fifth 800 and the sixth for 1,300. At maximum, players can breed up to seven times, with the seventh breed costing 2,100 SLP.

SLP facilitates the game’s play-to-earn model since players have to win SLPs and then use them to build Axies. Players can sell their farmed SLPs at the 

To play the Axie Infinity game, you need to buy three Axies from the marketplace using Ether. Here’s how to do it:

We’ve already discussed SLP above. Now, let’s explain Axies a bit. These are the players’ virtual pets, who have different attributes. Axies have nine classes:

Each class has unique attributes that determine its role in the Axie team you create. And each Axie has four primary attributes:

Each class has a highlighting attribute. For example, “Plants” are good at defense, while the “Beasts” are perfect for their attacking capabilities.

Axies have six body parts; tail, back, horns, mouth, ears and eyes. More importantly, each Axie has four abilities/moves, called cards. The game has 

An Axie’s ability can be attacking the opponent or being on the defensive. Some might even steal energy from your opponents. As a rule of thumb, an impressive Axie has balanced abilities to perform its role perfectly.

Players combat their competitors in battle, earning SLP when they win. They then use this SLP to breed more Axies and build their team.

Axie Infinity is quite different from other games. It uses a Blockchain economic design to reward players for their performance. In this way, it is a play-to-earn game that has garnered attention from thousands of players worldwide.

The developers assert that their game presented people with a unique income stream during the pandemic. Many Axie Infinity players are the older generations who were unfamiliar with Blockchain technology before they started playing the game.

While other Blockchain games — such as Evolution Land and Gods Unchained — have a niche-specific market, Axie Infinity has attracted people of different age groups from all over the globe.

 in the Philippines who started playing Axie Infinity during the pandemic says, “What matters is having money so we can eat, avoid debts and get through every day. It [Axie Infinity] sustained our daily needs, paid our bills and debts. I was thankful to Axie because somehow it helped us.”

Interestingly, it has become fundamental in people’s lives in the global south, having

 for some players. In fact, players in the Philippines may have to

 on their Axie trades, according to the Philippines’ finance undersecretary. No other Blockchain game has reached this level of significance in players’ lives.

Axie infinity may be comparable in popularity to Pokémon Go, from which it took its inspiration. Still, it has given economic importance to gaming that other games have yet to achieve.

AXS token is growing impressively since its launch in November 2020. To put things into perspective, if you’d bought $1,000 worth of AXS at the time of launch, you would have $214,873 in July 2021, with a 21,000% increase in price.

In May, the price of one AXS was just $3.38, and it peaked at $29.13 in just two months. Right now, in the last week of August 2021, the price of a single AXS is $73.47, with a 

, a website that forecasts the value of cryptos in the future, estimates the maximum price of 1 AXS to be $93.98 in 2021. Meanwhile, they expect the price to go up to $147.18 in the next year, exceeding $1,000 by 2028.

Quite simply, AXS is expensive due to its rising popularity. At the beginning of 2021, the game’s revenue was $1.92 million, which skyrocketed to $120 billion by July.

Also, AXS price rises with an increase in SLP price since the potion is required to breed Axies. The 

 in the past few months, leading to the production of fewer Axies. The price has risen since the 

, especially in countries like the Philippines, Cuba, United Arab Emirates, Venezuela and Qatar.

At the grassroots level, this is a straightforward supply-and-demand mechanism. The supply of Axies is less than the demand, which increases the price of AXS.

 are an incentive the developers offer players to hold AXS. Players who stake their AXS coins for a certain period, such as 6 or 12 months, can claim weekly rewards.

AXS staking is not currently active, but the developers are expected to announce it soon.

Here’s a general overview. For example, if you have $1,000 worth of AXS and stake them for a year at 15% estimated APY, you’ll earn 161.56 AXS, which is around $1,793.32 (per the currency’s current price) at the end of 12 months.

What Does the Future Hold for Axie Infinity?

With Axie Infinity’s popularity increasing, the future seems to be bright for AXS. According to Gov Capital, “Axie Infinity price has a promising future. It may get marginally impacted, but bulls will be back, and around 2025, the 

 of Axie Infinity may skyrocket to $110, making it a good investment, and the trend continues.”

AXS had done well by the end of the second quarter of 2021, logging a year-to-day 

 of more than 7,000%, which put Ether’s 212% and Bitcoin’s 33% to shame.

While most people consider AXS a good investment for the future, some experts suspect that the “herd mentality” currently driving the valuation to extremes may not last for too long, bringing a volatile price swing.

Axie Infinity (AXS): A Crypto That Rewards You For Gaming

Grab Up to 5,000 USDT in Rewards

Grab Up to 5,000 USDT in Rewards