No doubt, Decentralized Finance (DeFi) has taken the finance world by storm. In fact, the $80 billion industry is projected to reach $800 billion by the end of 2022. With this in mind, companies worldwide are capitalizing on blockchain and DeFi related projects popular investments. As an emerging company in the DeFi sphere, Axis Technologies Group, Inc. (OTC: AXTG) is focused on promoting, developing and managing different blockchain and DeFi projects. As the company announced the removal of its shell status, investors’ anticipation drove a 33% increase in AXTG stock’s price.
AXTG Stock News
In Q3 2021, AXTG’s CEO – William Tien – issued a letter to shareholders introducing himself and his achievements in the DeFi industry. He then laid out the future of the company and its goals for the upcoming year. AXTG is rapidly gaining interest from investors within the DeFi industry in part because of this new direction.
Right now, AXTG’s primary focus is acquiring companies with untapped potential to develop blockchain and DeFi related projects. With this in mind, ATXG recently acquired TiENCHAT – a global multilingual social networking platform relying on blockchain – which works in combination with AXTG’s other acquisition,T8 Exchange (T8EX).
TiENCHAT is creating a comprehensive platform for crossborder payment, communication, payment, transaction, shopping, information acquisition, and knowledge sharing. According to the company, “it uses its unique integrated methods of life, entertainment, games, and financial management to realize the value of time and the decentralized finance of social products”.
It appears that TiENCHAT also has plans to mine ETH and other cryptocurrencies that yield favorable ROI’s using its team with experience in the management and mining of cryptocurrencies.
Meanwhile, T8 Exchange is a decentralized exchange platform that allows TiENCHAT users to trade, swap, and utilize cryptocurrencies as payment through the app. As part of T8EX, ETHFUND acts as a decentralized NFT minting, swap, listing and exchange platform which works with TiENCHAT to let users utilize NFT tokens as a form of payment inside the platform. Ultimately, TiENCHAT users are able to trade NFTs through ETHFUND which introduces AXTG’s platforms to a wide audience of NFT investors and traders.
ETHFund.io offers three major NFT categories for investment including: online movie productions, original music, and digital art. Using the ETHF token, users can invest in NFTs projects and stake ETHF through Ethereum smart contracts, as well as become eligible for reward programs. As an incentive, ETHFund has loyalty rewards programs that allow users to earn dividends and multi-NFT token fee payments. AXTG has been pursuing partnerships to promote its platform having recently completed a tokenized project with the non-profit – ABC Legacy Foundation.
The company has also promoted ETHFUND by sponsoring a charity event held by Black Tie Magazine at Manhattan Motorcars in New York City. According to AXTG’s President of Media, “The International community of collectible car owners are combining with Black Tie Magazine, AXTG and the ETHFund to create the first Classic Car Collection Charity NFT,” which the organizations hope will generate millions of dollars to fund global humanitarian projects.
The company first broke ground on its NFT plans last September, after securing exclusive rights to develop a historic Babe Ruth and Roger Maris autographed baseball NFT. This advancement into the lucrative area of collectable sports memorabilia could prove a profitable investment for the company. As NFTs take off with the Metaverse boom, AXTG stands to make considerable gains.
Considering the rapid growth of the NFT industry over just the last year, the company’s CEO – William Tien – believes “the timing is right to embrace the new possibilities of the world’s market in NFTs”. With this in mind, AXTG’s pivot towards this burgeoning sector could prove promising for the company’s investors.
*Update on February 10th
Upon the removal of its shell status, AXTG is now well-positioned to deliver on its metaverse and NFTs plans. On February 9th, the company announced the planned launch of its TiENWORLD private sales page. Given AXTG’s commitment to expand this project, the company signed a strategic partnership with Wanhubaidian Electronic Digital Technology (Shenzhen) Co., Ltd – a company co-owning an agricultural logistic group with a network of over 6,000 members in China.
This partnership will enable AXTG’s TiENWORLD to reach China and will help the company secure new metaverse initiatives. As both companies continue “acquiring virtual land and building virtual shops inside TiENWORLD”, the CEO believes they are well-positioned to build a “virtual city for Wanhubaidian City – which means multiple businesses in thousand shops in Chinese”. This is only one of the initial steps the company is taking towards becoming a major player in the metaverse industry.
Currently, investors are waiting for updates regarding the CEO’s recent meeting with OWUV’s Jerry Craig at the MVP VIP screening. However, there is speculation surrounding the possibility of a partnership between both companies. While they are yet to disclose any information, a partnership could open up more growth opportunities for AXTG within the metaverse – considering OWUV’s ongoing expansion and efforts to penetrate the industry. With this in mind, investors remain bullish on AXTG’s efforts.
Media Sentiment
@Modrnerapharaoh is anticipating AXTG stock could see a run-up by EOM in light of its ongoing metaverse initiatives.
@WhoesNext1 is bullish updates could send AXTG stock on a run because of its low float and credible CEO
Technical Analysis
Currently, AXTG stock is trading at $.0368 with a strong resistance at .04 and a weak resistance at .0428. The stock has a primary support at .035 and a secondary support at .0291. The RSI is currently at 49 and the MACD is bearish to the downside. Despite this, accumulation has been steady and is showing a recent uptick.
These indicators highlight investors’ strong belief in AXTG’s future. Despite a bearish MACD, the RSI continues to trend upwards and accumulation remains steady – reflecting more investors holding on to their shares in anticipation of a run-up. As AXTG stock trades near its support, investors could find now a good entry point on a promising stock.
AXTG Stock Forecast
With ETHfund tapping into 60 million crypto wallets worldwide through the Ethereum blockchain and its innovative NFT platform, AXTG is positioning itself to become a major player in the NFT world. Currently, the company is intensifying its efforts to penetrate tjhe growing metaverse industry. With this new agreement and growing connections within the market, AXTG could be well on its way to become an emerging leader. With all these catalysts in play, investors are bullish AXTG stock could test its recent highs sooner than expected on news and updates from the company.
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