Battle Infinity, the play-to-earn fantasy sports games platform that launched its IBAT token on the LBank exchange on Friday, has been listed on CoinGecko.
CoinGecko is a leading crypto data site that currently lists around 12,000 crypto assets. Along with Coinmarketcap it is considered to be the top listings site for the crypto community to track token prices and rank projects.
IBAT is the utility token of the Battle Infinity ecosystem. It is used to pay for purchasing NFT passes to play the games and is the rewards currency accumulated by users undertaking various in-game activities, topping the leaderboard, winning battles etc.
At the time of writing, the coin is priced at $0.00407 on PancakeSwap and $0.0037 on LBank, giving the asset a diluted market capitalisation of $40.7 million – IBAT has a total token supply of 10 billion.
IBAT airdropped to 1,800 Axie Infinity wallet addresses
The news comes at the same time as the Battle Infinity team announced that it has air dropped 125 IBAT to 1,800 wallet addresses of the holders of the Axie Infinity (AXS) token.
Battle Infinity’s move is likely to be the first in a number of aggressive marketing moves as it seeks to wrest the gaming crown from the likes of Axie Infinity, which until relatively recently was the most successful game in the crypto P2E space.
It is a bold step to attract holders of the Axie Infinity token, which experienced great success earlier this year as the top coin in the P2E space but has since suffered due to the severe hack of the Ronin bridge, an essential part of its ecosystem.
As a result of the $650 million hack and the more general crypto winter conditions, AXS is trading 91% below its all-time high of $164.
In terms of fundamental analysis, Battle Infinity compares favourably against Axie Infinity, which in addition to its bridge problems suffered from a number of designed flaws.
In order to pay the rewards in its P2E economy, Axie came to rely on speculation on the in-game currency Smooth Love Potion.
That, along with constant inflationary pressure, made it harder and harder for new entrants of average means, especially in developing countries where individuals were making a living from playing the game, to get involved.
But perhaps most damningly of all, Axie was a boring game to play and devoid of a skill element.
Battle Infinity has learnt from Axie’s mistakes
Battle Infinity by contrast is not seeking to reinvent the wheel, but instead to transform an already-existing popular gaming format – fantasy sports.
To move up the leaderboard will depend on the knowledge and skill of the creator of the team, with players’ performance linked to the real-world performance.
The deeper a team manager’s understanding of their sport – Battle Infinity Premier League is launching with cricket as its first sport – the greater the rewards they can accumulate.
Furthermore, teams will be able to battle one another and the ecosystem’s Battle Arena brings an augmented and virtual reality aspect to the game, with avatars all hooked up in a metaverse environment.
Virtual real estate Land will also be on sale, as well as the opportunity to advertise teams and services using virtual billboards and much more besides.
Transaction fees on the Battle Market trading of in-game assets will help fund rewards as will sales of the NFT passes and fees in the Battle Swap DEX.
A recent report by DappRadar found that blockchain games have been the least affect by the bear market in crypto, making Battle Infinity a choice selection for diversified portfolio at this time.
Battle Infinity IBAT price builds platform for advance
The price of IBAT has stabilised after one holder of 83 million tokens exited the position by dumping coins.
In order to control the whale’s selling activity the anti-dumping measure that had previously limited sells to a maximum of 0.05% of total supply, was changed to every 3 minutes in order to discourage the whale from dumping when the coin listed LBank.
Another uncertainty hanging over recent price action has been the activity of the project’s marketing wallet, where tokens were sold to pay for the LBank exchange listing. A perceived lack of communication from the team is thought to have created uncertainty among potential buyers.
With more transparent messaging on both of those issues and now the CoinGecko listings and the airdrop, not to mention targeted advertising on Twitter, select Telegram groups and elsewhere, a foundation for further price advance is likely in place.
Battle Infinity’s IBAT can weather the crypto winter
Market participants will be concerned by the drawdown is risk asset valuations since Fed Chairman Jerome Powell’s hawkish speech at the central bankers’ annual Jackson Hole gathering.
However, discerning crypto investors are now more likely to focus on project’s such as Battle Infinity that have a clear route to market and generating substantial earnings as, in Battle Infinity’s case, it taps into the burgeoning fantasy sports gaming segment globally, starting in its home market of India.
Battle Infinity’s launch on decentralised exchange PancakeSwap was market by national press coverage in India and the support of celebrities from the world of Bollywood and cricket.
Battle Swap and Battle Stake are expected to be the first products on the roadmap to go live, although an exact date has not yet been shared with the community.
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