$COIN.NE Purchases PoS Tokens From the Video Game Axie Infin Tokens.com ($COIN.NE) just announced that they had purchased 2 proof-of-stake cryptocurrencies from the popular game Axie Infinity.
- Axie Infinity is an NFT-based game that hosts 2 Ethereum-based cryptocurrencies: AXS and SLP
- Purchased 980 AXS and 174,000 SLP
- The current values are as follows: AXS: $45,354, SLP: $48,111
- “The Company plans to deploy various yield-generating strategies with these tokens, including providing liquidity and eventually staking.”
For those that don’t know what Axie Infinity is, it’s similar to Pokmon, where players use their Axies to adventure and battle against others. The game has around 350,000 daily active users and has generated about $135M in revenue over the past month! (2nd largest project by revenue in the cryptocurrency ecosystem behind Ethereum).
https://ca.finance.yahoo.com/news/tokens-com-purchases-tokens-blockchain-113000287.html
Great news from tokens.com, they’re continuing to expand their operations, wasting no time deploying the cash received from the Genesis Global loan. Now their total purchases (or at least announced) comes to 900 AXS, 174,000 SLP, 300 ETH 2.0, and 7,625 DOT1. This brings the total token acquisition amount for this month to $897,190 USD
- Assuming a 10%-13% combined yield, I’m estimating the annual revenues generated from these newly acquired tokens will come to around $89,719–$116,635 USD
- Those numbers don’t include any underlying price changes, but I’m pretty sure they’ve already made a decent profit since they announced the purchase of DOT1 and ETH when it bottomed on July 20
Overall, I’m super excited for what $COIN.NE has to offer in the future. With a market cap of only $41M, there’s still lots of room to grow. Will be adding more during the dips for the long run! GLTA