Axie Infinity has been in an absolute tearing state recently. The game earning platform has become synonymous with the new integration of cryptocurrency and games, with incredible potential.
Axie Infinity has more than 1 million daily active users, and it generates more revenue than any protocol or platform (except Ethereum). Yes, compared to major platforms such as OpenSea, Uniswap, Bitcoin or Binance Smart Chain, Axie Infinity generates more fee income.
If you haven’t followed Axies yet, you probably should. Need to quickly understand the basics? View our report It started with the appearance of Axies a few months ago.
Axie Infinity: at the top of the list
Series of tweets Connor Dempsey from Coinbase Ventures explained the short and sweet story very well. As Dempsey aptly pointed out, every Axie transaction will charge a pricing fee—in $SLP or $AXS.
At the time of writing, in the past 24 hours, Axies had sales of more than $170,000, leading the way in NFT. The closest NFT project on the sales chart is Bored Ape Yacht Club, which is priced just under US$90,000.
You read that right, Axies almost Doubled The next closest comparable NFT project today. Of course, Axies is also ahead of the 30-day and historical chart of NFT sales volume, because the platform’s transaction volume exceeds $1.7B and is close to 1.5 million owners.
If you look at blockchain fee income in the long run, Axies will become even more impressive.according to Token terminal, Any 90-day chart and longer long-term time frame reflect that Axies incurs more expenses than Ethereum. As Dempsey emphasized in his tweet, the pool of funds for Axie fees has swelled to nearly $600.
Axie Infinity's governance token, AXS, has been explosive this year as the platform crosses over 1MM active daily users. | Source: AXS-USD on TradingView.com
The sky is…infinite?
Dempsey’s tweet leads to A new Coinbase blog post This week mainly focuses on Axie Infinity, related game guild Yield Guild Games, and a wider game earning model.
The demand flowing into Axie Infinity caused the average cost of Axies this month to be about $300, and at least 3 Axies are required to play games. Income in August almost doubled from July. How did this happen?
It began to appear in the Philippines last year.It has developed so fast in the country that government finance officials reiterated that the profits made by the game Should be declared as an income taxOther developing and emerging countries, especially those that have been hit hard by the COVID-19 pandemic (and the local currency may have weakened), have also discovered a living wage modeled by Axie Infinity.
The biggest criticism surrounding Axie comes from sustainability; will the continuous increase in the cost of entering the market lead to insurmountable barriers to entry? Enter Yield Guild Games, they loan Axies to get a small return. Yield Guild Games even cooperated with exchange FTX to sponsor more than 100 players in developing countries. The surrounding economy that supports Axie Infinity is reappearing before our eyes.
Axie Infinity is paving the way for playing a money-making model and impacting personal lives in a very important way.
Featured image from AxieInfinity.com, Charts from TradingView.com