Axie Infinity continues to generate more revenue than almost all of the top cryptocurrencies, including Bitcoin and the DeFi and NFT market leaders.
The revenue of Axie Infinity has increased dramatically.
The parabolic run of Axie Infinity continues.
From July to August, revenue for the Ethereum-based NFT game increased by over 85 percent. Apart from Ethereum, the game generated more fees than any other crypto protocol.
According to data from AxieWorld, the game earned $364 million in protocol revenue in August, up from $196 million in July. This represents an increase of 85.7 percent month over month.
Only Ethereum, with $670 million in revenue, outperformed Axie Infinity in August. Many leading crypto projects, such as OpenSea, Uniswap, and Aave, were ranked ahead of it. The game topped the leaderboard in July, surpassing Ethereum.
On top of the Ethereum blockchain, Axie Infinity has a play-to-earn mechanism. Axies, which are digital pets that take the form of NFTs, are available for purchase, breeding, and trading in the game. When someone buys an Axie, the game generates revenue.
The game contributes a portion of its revenue to an AXS-managed community treasury. AXS is Axie Infinity’s governance token, and it has risen in value as the game’s popularity has grown. It’s up 88 percent in the last 30 days, and it’s currently trading at $71.79 at press time.
In recent months, the game has become the talk of the crypto world, thanks in part to its rising popularity in the Philippines. The game’s meteoric rise has been one of the most talked-about aspects of the crypto industry’s “NFT summer.”
The team announced in early August that the game had over 1 million active users around the world. As the game’s popularity has grown, in-demand Axies and virtual land plots have sold for up to seven figures. Axie Infinity’s trading volume has been among the highest of all NFT projects throughout the summer, ranking alongside CryptoPunks, Bored Ape Yacht Club, and Art Blocks. According to the most recent growth statistics, Axie Infinity has maintained its position as the market leader in blockchain gaming and non-fungibles.