• Latest
  • Trending
Mind-Blowing Growth of One Altcoin Highlights Rapid Expansion of Crypto Industry, Says Coinbase CEO

Mind-Blowing Growth of One Altcoin Highlights Rapid Expansion of Crypto Industry, Says Coinbase CEO

October 13, 2021
Crypto Analyst Says Altcoin Bulls Are Taking a Dangerous Gamble As Bitcoin Dominance Surges – Here’s Why

Crypto Analyst Says Altcoin Bulls Are Taking a Dangerous Gamble As Bitcoin Dominance Surges – Here’s Why

May 27, 2022
Approaches and Strategies for 2022 By DailyCoin

Approaches and Strategies for 2022 By DailyCoin

May 27, 2022
Terra to burn 1B UST from the community pool as holders vote for it

Terra to burn 1B UST from the community pool as holders vote for it

May 27, 2022
Small Bitcoin whales may be keeping BTC price from ‘capitulation’ — analysis

Small Bitcoin whales may be keeping BTC price from ‘capitulation’ — analysis

May 27, 2022
Huobi Global co-hosts Blockchain Forum to spearhead Vietnam’s Metaverse future

Huobi Global co-hosts Blockchain Forum to spearhead Vietnam’s Metaverse future

May 27, 2022
What is Ethereum? Is it a blockchain or crypto? History, co-founders and more, find out here

What is Ethereum? Is it a blockchain or crypto? History, co-founders and more, find out here

May 27, 2022
Spooky Solana breakdown begins with SOL price facing a potential 45% drop — Here’s why

Spooky Solana breakdown begins with SOL price facing a potential 45% drop — Here’s why

May 27, 2022
Could Litecoin (LTC) and Shiba Inu (SHIB) be Outdone by Newcomer Logarithmic Finance (LOG)?

Could Litecoin (LTC) and Shiba Inu (SHIB) be Outdone by Newcomer Logarithmic Finance (LOG)?

May 27, 2022
Bird, Beast, Plant Guide & Tutorial | Axie Infinity – Blockchain NFT game

Bird, Beast, Plant Guide & Tutorial | Axie Infinity – Blockchain NFT game

May 27, 2022
Top cryptocurrencies in the UK 2022 

Top cryptocurrencies in the UK 2022 

May 27, 2022
Uvalde massacre ripples across towns along Highway 90

Uvalde massacre ripples across towns along Highway 90

May 27, 2022
Expect BOJ to keep up with monetary policy with inflation target

Expect BOJ to keep up with monetary policy with inflation target

May 27, 2022
OOF CRYPTO
  • Home
  • Bitcoin
  • Ethereum
  • Solana
  • Altcoins
  • Market & Analysis
  • ICO
OOF CRYPTO
No Result
View All Result

Mind-Blowing Growth of One Altcoin Highlights Rapid Expansion of Crypto Industry, Says Coinbase CEO

by oof_pj
October 13, 2021
in Altcoins
0


One scorching altcoin is a chief instance of the crypto business’s speedy growth into different sectors of the financial system, in accordance with Coinbase CEO Brian Armstrong.

Armstrong shares a brand new Coinbase weblog put up to his 862,000 Twitter followers detailing the rise of Axie Infinity (AXS), the non-fungible-token-focused (NFT) play-to-earn online game that has not too long ago exploded into prominence.

 

The report highlights the quantity of income earned by Axie Infinity, which at $186 million is second solely to Ethereum within the final 30 days, in accordance with Token Terminal.

Supply: Token Terminal

“Past the wealth Axie Infinity has created, the sport’s reputation has served as a way for getting a big new class of customers comfy utilizing crypto purposes. As these 1 million customers interface with cryptocurrencies, NFTs, digital wallets, and DEXs [decentralized exchanges], it’s not exhausting to see this new cohort as pure customers of different DeFi and Web3 purposes.”

Like Coinbase mentions within the report, Axie Infinity is usually in comparison with Pokémon due to how customers acquire varied creatures known as Axies and battle in opposition to these of different gamers.

Axies may also be “bred” with one another or traded to different gamers. When an Axie is bred or traded, the income goes to the Axie Infinity Treasury, which at present holds greater than $600,000,000. The Axie Infinity financial system consists of a governance token (AXS), and an in-game forex known as Easy Love Potion (SLP).

Coinbase says the entire ecosystem acts as its personal digital financial system.

“If Axie Infinity is its personal digital nation, recreation developer Sky Mavis serves as its Federal Reserve. The place the Fed has varied instruments it makes use of to affect the financial system, Sky Mavis can modify the SLP issuance fee and breeding charges with the intention of preserving the Axie financial system wholesome.

Similar to an actual financial system, digital economies have to contemplate the results of inflation.”

Armstrong and Coinbase consider that Axie Infinity’s progress highlights how the digital asset panorama has matured into one thing extra than simply speculative buying and selling and investing.

“With DeFi [decentralized finance], NFTs, and now crypto gaming, we’re quickly evolving previous the unique crypto killer app of speculative buying and selling and right into a universe of expressive new apps and fashions.

We’re in fascinating occasions as crypto’s utility part marches ahead with a full head of steam.”

At time of writing, AXS is buying and selling at $128, up over 100,000% in lower than a 12 months, according to CoinGecko.

Do not Miss a Beat – Subscribe to get crypto electronic mail alerts delivered on to your inbox

Observe us on Twitter, Facebook and Telegram

Surf The Daily Hodl Mix

 

Check Latest News Headlines

Disclaimer: Opinions expressed at The Every day Hodl should not funding recommendation. Traders ought to do their due diligence earlier than making any high-risk investments in Bitcoin, cryptocurrency or digital property. Please be suggested that your transfers and trades are at your individual threat, and any loses it’s possible you’ll incur are your accountability. The Every day Hodl doesn’t suggest the shopping for or promoting of any cryptocurrencies or digital property, neither is The Every day Hodl an funding advisor. Please be aware that The Every day Hodl participates in internet affiliate marketing.

Featured Picture: Shutterstock/stockphoto-graf/GrandeDuc

YOU MAY ALSO LIKE

Crypto Analyst Says Altcoin Bulls Are Taking a Dangerous Gamble As Bitcoin Dominance Surges – Here’s Why

Kyuubi Token Announces First Of Its Kind 3-1 Altcoin Contract





Source link

Tags: AltcoinCEOCoinbaseCryptoExpansiongrowthhighlightsindustryMindBlowingrapid
ShareTweetPin

Search

No Result
View All Result

Recent News

Crypto Analyst Says Altcoin Bulls Are Taking a Dangerous Gamble As Bitcoin Dominance Surges – Here’s Why

Crypto Analyst Says Altcoin Bulls Are Taking a Dangerous Gamble As Bitcoin Dominance Surges – Here’s Why

May 27, 2022
Approaches and Strategies for 2022 By DailyCoin

Approaches and Strategies for 2022 By DailyCoin

May 27, 2022
Terra to burn 1B UST from the community pool as holders vote for it

Terra to burn 1B UST from the community pool as holders vote for it

May 27, 2022

Recent News

  • Crypto Analyst Says Altcoin Bulls Are Taking a Dangerous Gamble As Bitcoin Dominance Surges – Here’s Why
  • Approaches and Strategies for 2022 By DailyCoin
  • Terra to burn 1B UST from the community pool as holders vote for it

Categories

  • Altcoins
  • Bitcoin
  • Blockchain
  • Chainlink
  • Cryptocurrency
  • Dogecoin
  • Ethereum
  • ICO
  • Litecoin
  • Market & Analysis
  • Rippl
  • Videos

Follow Us

Find Via Tags

Altcoin Altcoins analysis Analyst Bitcoin blockchain BTC Buy Cardano Chainlink coin Crypto Cryptocurrencies Cryptocurrency DeFi Digital DOGE Dogecoin ETH Ethereum exchange Heres Inu Investors Launch launches Litecoin Market Markets metaverse news NFT NFTs Price Prices rally Ripple Ripples Shiba Solana Today token Top Trading XRP
  • Privacy & Policy
  • About Us

© 2021 oof Crypto

No Result
View All Result
  • Home
  • Bitcoin
  • Ethereum
  • Solana
  • Altcoins
  • Market & Analysis
  • ICO

© 2021 oof Crypto