• In July, Axie Infinity generated more revenue than Bitcoin and Ethereum combined

  • Because of Axie Infinity’s meteoric rise in popularity, the protocol broke all records in July.

    Axie Infinity earned more revenue in July than Bitcoin, Binance Smart Chain, Uniswap, and even Ethereum.

    Axie Infinity is on the verge of exploding.

    With the heavily mediated price rise of Axie Infinity, the blockchain game has risen up the rankings of revenue-generating crypto protocols. According to Token Terminal, it is the highest-earning protocol for the month of July.

    Axie Infinity claims the top spot, beating out entire blockchains like Ethereum, Binance Smart Chain, and Bitcoin. Additionally, the game generated more revenue than decentralized exchanges Uniswap, PancakeSwap, or lending protocol Aave. Axie Infinity made more than $200 million in revenue in July. Annualized, this means Axie Infinity could generate more than $2 billion in revenue in the coming year.

    In terms of trading volume, Axie is also the first NFT product, ahead of CryptoPunks, ArtBlocks, and NBA Top Shot. Most notably, AXS trading volume was more than four times that of CryptoPunks, which has seen a remarkable revival in recent weeks.

    The number of daily active players is also rapidly approaching one million, as players from countries such as the Philippines continue to flock to the game. Axie Infinity’s team has outlined the next steps in game development in their most recent update. The next update will include a new version of PvP battles.

    In addition, the new update will include a territory system in which players can fight to defend their territory or attack their opponents.

    The play-to-earn trend continues, with the rise in AXS, Axie Infinity’s governance token, leading to an increase in the price of small love potions (SLP), the in-game currency players receive after winning battles.

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