05 Aug 2021 10:50 AM +00:00

Axie Infinity NFT Game Nears 1 Million Daily Users

The NFT-based play-to-earn game Axie Infinity now has almost 1,000,000 daily users, according to data from Axie World (via CoinTelegraph).

The blockchain game sees players raise, battle and trade Axies -a form of digital pets. Players need to first buy or borrow three Axies from the Marketplace to download the Axie Infinity, with one Axie potentially costing upwards of $300.

Axie Infinity has already made $70,000,000 in revenue during August, as of August 5.

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Axie Infinity Sees Record Revenue

According to Axie World, Axie Infinity had a total revenue of nearly $196,893,595.19 in July 2021. Of this, 85% came from breeding fees while the rest came from marketplace fees. The previous month, its revenue was just $12,229,390.23.

Over 1.4 million Axie worth a combined 344,997 ETH ($894,916,769 at the time of writing) have sold in the last 30 days.

Axie Infinity's token AXS has similarly seen a price increase over the last month. Only July 1, its price was $5.5083. It ended the month at $43.6, before dropping to $41.81 at the time of writing (via CoinMarketCap).

Players use AXS to pay for Axies, along with paying any transaction fees coming from breeding or trading.

On November 6, 2020, an Axie known as Angel sold for 300 ETH- worth $124,778.33 at the time of sale.

Axie Infinity is the creation of Sky Mavis - a Vietnamese developer based in Ho Chi Minh City. It first released in 2018 following the success of CryptoKitties. The AXS token launched in 2020.

Read More: What Are CryptoPunk NFTs?

[Featured Photo by Sky Mavis]