Crypto Phenomenon Axie Infinity Records $800,000,000 in Revenue in Just 30 Days

Play-to-earn game Axie Infinity (AXS) has generated $800 million in revenue in a single month, highlighting the surging popularity of games based on non-fungible tokens (NFTs).

The online game developed by Sky Mavis allows players to generate profits through buying, breeding and selling digital pets known as Axies. Each time an Axie is purchased, the revenue is placed in a community treasury vault that’s governed AXS holders.

According to NFT analytics site CryptoSlam, Axie Infinity has now made over $1.65 billion in all-time sales with over 3.8 million transactions, pushing the gaming platform to the top spot of the NFT collectibles space.

Meanwhile, the AXS native token has nearly doubled in value from $42 to $74 over the past month.

Built on the Ethereum network, Axie Infinity is part of a video game boom stemming from the coronavirus pandemic worldwide shutdowns, with many jobless workers now earning full-time incomes through online gaming. According to one IT analyst in the Philippines,

“I started playing Axie the same day my employer terminated my contract. I’m so grateful.”

The entire NFT market has surged in 2021, netting $2.5 billion in sales through June.

 

Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.