The crypto market recently made new gains due to exciting new developments in the GameFi sector. The surge of GameFi tokens like Axie Infinity (AXS) and Ronin (RON) has revitalized the market as crypto users have started losing interest in spot ETFs.
Eleven crypto ETFs were rolled out in January in the US and received a phenomenal response from investors. These financial products were launched after their parent companies overcame multiple regulatory challenges for ETFs. However, after the initial hype, crypto users are now ready for new developments.
It all started with Axie Infinity (AXS) which rolled out the seventh in-game competitive season of ‘Axie Infinity Origins’. The new season will offer 18,900 tokens as rewards. The announcement of the new season was followed by the sale of a rare Axie Infinity for around $246,000.
The events also boosted the price of Ronin (RON), an Ethereum-powered sidechain. Axie Infinity developer Sky Mavis was the brainchild behind Ronin and developed it in 2021. The chain of events led Ronin to reach a two-year high.
Apart from the GameFi sector, another name that has been making waves in crypto verse is InQubeta (QUBE). The altcoin is among the top names in analysts’ best cryptocurrency ICO list for the year and is currently dominating crypto discussions on Reddit.
InQubeta: Creating the Future of AI
With InQubeta, you are most likely to forget all worries about what cryptos to buy now as it gives you more than one way to earn passive income. Its native cryptocurrency, the QUBE token, can be staked and token holders earn crypto rewards in exchange.
The platform helps startups find investors to back their AI-based projects. So far, its presale has raised over $8.9 million.
QUBE can also be staked. Staked assets support blockchain growth by infusing more liquidity into the ecosystem. If you plan on holding QUBE tokens for the long term, it is a great opportunity to let the asset work for you without losing its ownership.
The supply of these tokens is capped at 1.5 billion which is used for purposes like public sales, meeting operational expenses, facilitating rewards, and maintaining liquidity pools.
Investing in AI-led projects is not rocket science, thanks to InQubeta’s transparent model. Crypto users evaluate and invest in startups’ projects by buying their corresponding NFTs at InQubeta’s digital marketplace. These NFTs can be purchased in fractions or as a whole with QUBE tokens.
QUBE is considered one of the best cryptocurrencies to buy today by experts as it can help crypto users beat the effects of inflation and market volatility on their portfolios. It draws this edge from its deflationary model which reduces token supply whenever markets tank. The demand stays high but it gets difficult to buy the QUBE token and the mismatch allows the asset to trade at competitive prices.
If the supply increases under such conditions, the excess tokens are burned.
Axie Infinity Updates the Utility of In-Game Consumable ‘Coco’
Axie Infinity is a decentralized gaming platform where crypto users can acquire NFTs called ‘Axies’ and play diverse games to earn crypto rewards. Axies are digital pets where each creature has a different set of features. To acquire them or to make any payment on the platform, players use Axie Infinity’s native token AXS.
Axie Infinity also upgraded the utility of ‘Coco’, which is powered by the ERC-1155 standard and is a kind of consumable to boost Axies’ power. The updates will increase the cap on Coco and improve user experience.
The GameFi platform recently hit the headlines after one of its rare NFTs fetched around $246,000 or 105 Ethereum tokens. Axie Infinity co-founder Jeff Zerlin posted on social media that the NFT ‘Aamogenesis’ was originally sold for roughly 6 Ethereum tokens in 2018.
The sale also pushed up the price of Ronin, another DeFi platform created by Axie Infinity developer Sky Mavis.
Conclusion
Market experts are calling InQubeta and Axie Infinity among the altcoins to watch out for this year. These cryptocurrencies are topping popularity charts as they have posted consistent growth. Their rise has trumped the returns of several asset categories that were impacted by global market volatility.
Crypto users are also drawn to these assets as they have high growth potential. At a time when the debate over the legal aspects of BTC ETFs refuses to die down, these two cryptocurrencies could help buyers achieve inflation-beating returns in the long term.
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