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The crypto-based game that is Axie Infinity (AXS) is making quite a buzz as of late as it allows its players base to earn while playing the turn-based strategy title at the same time. Also, it’s worth noting that it reached a milestone after being out for several years now.
Axie Infinity’s milestone – reaching the $2.5 billion market cap within just four years from its introduction to the crypto market. As of writing, however, it currently sits at $2.2 billion making it the 44th largest cryptocurrency on the planet. Also, it is said that its price rallied 82 times this year alone and it’s at $37.71 apiece.
Prior to this, on Friday, AXS’ price was at an all-time high as it broke through the $30 mark, suggesting an impressive gain well above 5,700 percent year-to-date. With that in mind, the crypto monitoring platform of TheTie made a research about Axie Infinity stating that the turn-based strategy game has grown to become Ethereum blockchain’s highest revenue project. Since April, its revenue is up by an impressive 17,000 percent. The said token is so popping up as of late that it is now projected to rake in a whopping one billion dollars in total revenue at the end of 2021.
AXS Economics
As for Axie Infinity’s economics, 21 percent of the AXS allocation goes straight to its developer and parent company – Vietnam-based Sky Mavis. Seven percent of AXS are for the advisors, alongside other eight percent for the so-called Ecosystem Fund. TheTie also noted that Axie held a private sale in mid-2020 where it was priced at $0.08 per AXS.
AXS, on the other hand, are hard-capped with a maximum supply of 270,000,000 and these are to be released over 65 months. Currently, these tokens are rolled out via the above-mentioned ecosystem fund and play-to-earn as a reward in Axie Infinity. That said, the developers are now devising a new way on how these tokens can be released and that is through staking.
Axie Infinity and play-to-ear
Axie Infinity players are well acquainted with the in-game item known as Smooth Love Potions (SLPs). These are uncapped and are distributed based on the user agreement. There are several ways on how to earn these in the game: winning matches in either of the game’s Adventure or Arena mode, winning tournaments, and have other players interact with your land.
The play-to-earn part has piqued the interest of many as this helped the game establish a cult-like following. This feature of Axie Infinity – where people can earn real-world cash – has eventually put up a microeconomy within the Axie Marketplace, not to mention that this has a solid demand.
Axie player base
Axie Infinity is believed to have a huge playerbase in The Philippines where users are earning at around $50. Now that’s 66 percent more as compared to a regular employee’s daily salary of just $30. This play-to-earn feature of the game has created a trend in blockchain gaming overseas. Also, Axie Infinity has grown to become the most popular NFT platform by volume.
Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain.
