The success of Axie Infinity( AXS) does not ebb: the Ethereum-based NFT game Axie Infinity has crossed the $ 1 billion mark, according to data from CryptoSlam! show. First, a fifth of Axie Infinity’s sales took place last week.
At that time, tokens of the Pokémon-inspired NFT game worth $ 1,055,735 were traded through 2.4 million transactions. There are 324,850 buyers, 936,065 owners and more than a million daily active users.
The milestone is the latest evidence that the blockchain game launched in 2018 has truly gone viral this summer. Nearly a fifth of Axie Infinity’s sales took place last week – and three-quarters were completed last month.
Axie Infinity is the first NFT game to exceed $ 1 billion in revenue. The next highest-grossing game is NBA Top Shot. This is the basketball trading card game that runs on the Flow blockchain and has generated $ 675 million in revenue. Then comes the Ethereum-based CryptoPunks with $ 657 million.
What is Axie Infinity?
Removing the blockchain from Axie Infinity, the game plays like a simple monster battler. Axies have different values that determine their fate in battles with other players-just like Pokémon.
The inclusion of cryptocurrencies makes the game much more lucrative than Pokémon, giving players an incentive to spend money and – with a little luck – also earn.
However, cryptocurrencies also make Axie Infinity (here to our AXS forecast) incredibly expensive. While a new Pokémon game costs well under $ 60 for a more than 100-hour experience, a single Axie Infinity monster costs a few hundred dollars. Even a green shrub costs 60 dollars.
However, unlike Pokémon monsters, players are free to sell their Axie Infinity tokens on secondary markets-and given today’s $ 1 billion milestone, they obviously do. Developer Sky Mavis calls the model “play to earn”.
In November 2020, Vietnamese developer Axie introduced Infinity Shards – AXS)-a governance token that allows players to vote on the future of the game. The token has experienced a boom in the past month. On July 20, AXS had a market capitalization of $ 900 million; now it has a market capitalization of $ 2.6 billion.
Sky Mavis has also established a decentralized market for 90,601 virtual plots where players can build their operations, collect resources, and craft items. Land is often sold for well over $ 10,000 – although most game features for land have not yet been implemented.
Text credit: Decrypt
Last updated on August 9, 2021
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