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The Rise of Axie Infinity

In the last few days, Axie Infinity has sold more than 50,000 NFTs a day, making it to $25 million in daily sales.

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Axie Infinity has sold more than 50,000 NFTs a day in the last few days, making it to $25 million in daily sales.

Every day, more than 350,000 people from all over the world dive into the Axie digital world. The blockchain game has become an enormous hit using Pokemon-like dynamics, especially since it is linked to the Ronin sidechain. There is a new digital economy being built because of Axie Infinity. This isn’t just another game.


The rise of the Axies

Sky Mavis’ Axie Infinity is a blockchain game. NFTs may be used to fight in-game monsters, breed more Axies, or acquire game goodies.

An Axie Infinity project is the most talked-about thing going on in the blockchain world. If you read Dappradar’s Q2 Industry Report, we already talked about how big the project has been. Since Axie moved to the Ronin sidechain, this has mostly happened. However, over the last 30 days, the game has had about 350,000 people play it every day. The metric went up by more than three times during the previous month.

Because NFTs are so vital in the game, there is a significant correlation between use and sales. In the last 30 days, Axie has had the second-most sales of NFTs on all dapps, with more than 887,000 sales. NBA Top Shot had more sales.

More than $372 million in sales have come from Axie over the last 30 days alone, as well. CryptoPunks, BAYC, and NBA Top Shot are some of the best collections of NFT art. Each of them has a value of between $30 and $40 million. On a daily basis, Axie sells more than 50,000 NFTs for $25 million.

The path to mass adoption

While the huge difference between the NFT projects and this one is impressive, what really stands out is how quickly the project’s popularity has grown. Axie’s sales volume has gone up 475 percent from June to now. Compared to the numbers from the first quarter, that’s a huge increase of more than 800 percent. The number of traders and sales has also gone up a lot. Axie saw a 304 percent and 290 percent rise in sales over the last 30 days.

An in-depth look at sales and demand for Axies shows that both are growing at a very high rate. At the end of July, more than 454,000 people owned Axie, which is a 220% increase from the previous month. This is the second month in a row that more Axies are being bred than sold every day.

Besides this, it’s also interesting to note that the buyers and sellers ratio has completely changed in the last few months. There were a lot of traders at the start of May. It all changed in the last two months when the buyers’ demand almost doubled the amount of food. This is a big thing to think about when you hear about how many people are adopting.

Boostin’ digital channels

Axie Infinity’s customer preference has increased rapidly, according to a rigorous survey. Moreover, statistics from outside sources, such as social media, show that the initiative has been extensively used.

Axie Infinity now has more than 215,000 followers on Twitter, which is a 135 percent increase from the last month. From the 13th to the 14th of July, Axie’s Twitter account gained 23,000 followers in a single day, only.

Axie Infinity has been able to build a strong community on a lot of different platforms. As shown in the first picture, Axie’s Discord membership has also gone up a lot. This could be a strong sign that people are going to start using it.

Scholars, a new economic model

Axie Infinity has had a lot of success since moving to Ronin. The launch of the sidechain has led to a big rise in the game’s popularity. Because of this, Token Terminal says that Axie Infinity has brought in more than $69 million for the team in 2021 alone.

However, one thing that is making headlines in the mainstream media is the social impact that the game itself has on people. People in emerging markets like the Philippines, where economic problems became more visible because of the pandemic, found a way to make money. Emfaris has documented this.

When players fight in PvE or PvP modes, they can earn SLP (Smooth love potion), the game’s in-game currency. It can then be used to breed young Axies nor sold on organized marketplaces for real money.

However, not everyone can play the game. Players in Axie Infinity must have at least three Axie pets to start getting SLP.

Axie owners lend their NFTs to players from all over the world so they can play and earn money. In this type of model, there are many different ways to get value out of things. The social impact shows that blockchain has a lot of potentials. Also, more people are getting to know about this technology, which helps them think about the future better as well.

Players from the Philippines, Venezuela, Cuba, Qatar, and the UAE are the most likely to get scholarships. It will be interesting to see how Axie Infinity as a whole does in the next few months.

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Jane De Leon is a news writer covering all things related to DeFi and NFTs. In the past, she has worked for a well-known Business Newspaper. She originally began investing in Bitcoin after hearing about it from her brother and hasn’t looked back since.