NBA Top Shot (a digital trading card) is an example. They have exploded in other uses like art, collecting sports, and music. Sky Mavis begins to participate in the mass transition to NFT games. Sky Mavis raised $ 7.5 million in May with donors including billionaire and Dallas Mavericks owner Mark Cuban. Sky Mavis is currently developing a new game mode that will allow users to try the game for free. A Smooth Love Potion (the in-game currency you earn to take part in and win battles) is now worth $ 0.087, down 78% from the ATH two months ago. On the other hand, SLP has increased by more than 7% in the past 24 hours. At the time of publication, AXS is trading for $ 68.51. On September 4, AXS hit an all-time high (ATH) of $ 93.68, according to CoinGecko data. Players can earn SLP through the game and then sell it to other users who need the SLP to create a new ax. It currently has 1.5 million daily active players.Īs a play-to-earn game, Axie Infinity relies on AXS governance tokens and SLP utility tokens. Players must have at least three Axie characters to play.
While DappRadar reported in May that the average transaction in the Axie Infinity NFT collection was $ 226, that figure has almost doubled since then.
The Axie Infinity collection generated over $ 765 million in sales, representing approximately 83% of total NFT in-game sales in August. Axie Infinity is slowly expanding its lead as CryptoPunks lags behind with a peak trading volume of $ 1.29 billion. That said, Axies can still beat the big names in NFT collectibles like CryptoPunks, Art Blocks, and NBA Top Shot. The main function of Axie Infinity is a game, not an NFT collection. This proves that the play-to-earn (entertainment economy) model is very relevant at a time when the pandemic has lost so many people from their jobs. Rise of the Axie InfinityĪxie Infinity grew rapidly from the start in the Philippines, where people realized that by playing Axie Infinity they could make three times the minimum wage in one month. All of this is really cool for a company with $ 100,000 in January sales. This means the average transaction for an Axie Infinity NFT is worth around $ 420. DappRadar confirms that Axie Infinity has reached # 1 in NFT collections.Īxie Infinity NFT has been bought or sold in 4.88 million transactions by over 615,000 merchants. The ability to make money in the game is called “play-to-earn” and has evolved in many different ways.
#Axie infinity revenue upgrade#
You can upgrade characters and sell them, which will bring income to players. Players use real money to purchase these characters and participate in battles with other players.
Sky Mavis and its players generated $ 2.05 billion in sales for Axie Infinity, an NFT game founded by Team Synthetic Team.Īxie Infinity uses NFT to set up the characters in a unique way.
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