Axie Infinity Crosses $1 Billion in NFT Trading Volume and Reports $200 Million 30 Day Revenue

Axie sits firmly atop the DeFi throne and doesn’t appear to fall soon.

By
Kyle Heise
on
August 8, 2021
Category:
Blockchain News

First NFT Project to Milestone

On Friday, August 6th, Axie Infinity reached the incredible milestone of $1 Billion in all-time total volume traded. The top non-fungible token (NFT) play-to-earn game continues to reach new heights, and with the Ethereum ‘London’ hard fork, we’ve likely only just begun

Axie runs away with the title for top NFT platform––not just the top play-to-earn game––and it is not even close.  In the past thirty days, Axie posted a revenue of over $200 million, higher than every other dApp and blockchain protocol, including Ethereum. Axie has become more than just a game and swings major weight in decentralized finance (DeFi). 

What a day. AxieInfinity is the first NFT project to hit $1Bn in all-time NFT trading volume,” tweeted Axie Infinity’s Co-Founder and COO Aleksander Larsen on Aug. 6. “History in the making.”

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History indeed. The billion-dollar volume milestone is another impressive feat from Axie infinity. The team should undoubtedly savor the moment since it looks like Axie will float solo above $1Billion for some time.

The closest competitors––NBA TopShot and CryptoPunks––are just under $700 Million in trading volume. All signs point to Axie continuing to grow, especially as Ethereum gas fees go down due to the recent hard fork. 


What is Axie Infinity?

Axie Infinity is a gaming crypto platform based on the Ethereum and Binance Smart Chain. The protocol can be best described as an open-ended digital pet universe. In the game, users have pets named Axies and can battle, fight, earn, and build empires for their pets. ‍

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The protocol has grown tremendously due to its novel “play to earn” style, where users contribute to the Axie ecosystem and are financially rewarded. In 2021, users can now earn the AXS governance token by playing. 

For more information about Axie Infinity:

Website | Twitter | Discord | Reddit | SubStack

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Kyle Heise

Born and raised in the East Bay of California. He has studied and worked on three continents and lived in eight countries. Kyle resides in San Francisco. He holds bags mostly in Ethererum, Cake, and BSC GameFi projects.

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