Axie Infinity hitting milestones one after another, becoming “the most valuable NFT collection of all time “.
Axie Infinity (AXS) with non-fungible token ( NFT ) has gone through a series of explosions, surpassing $1 billion in sales volume, reaching 1 million daily active users and becoming “the most valuable NFT collection of all time, ” between others.
Its historic sales volume is currently $1.077 billion, according to CryptoSlam data. It also shows 329,170 buyers, 956,431 owners and 2.5 million transactions.
In comparison, the runner-up NBA Top Shot has $677 million in sales volume so far, followed by the CryptoPunks NFTs with $662 million. The NBA Top Shot leads here by the number of transactions, with over 8.6 million of them in total.
In just the last 24 hours, Axie Infinity’s sales volume has increased 10% to $29 million. That’s ahead of CryptoPunks, as well as Bored Ape Yacht Club, World of Women and Meebits – which together have $20 million in 24-hour sales volume, less than Axies.
Axie Infinity hitting milestones one after another.
Additionally, on August 6th, the team behind Axie Infinity announced that it has registered over 1 million Daily Active Players (DAU).
The data provided also shows that the majority of these players are Android users (685,550), followed by Windows (306,580), Mac and iOS, respectively.
However, some of them didn’t have the Axie monster NFTs needed to play the game. “Some players download the game app without having Axies“, said the team.
The reason for this seems to be simple, as downloading the game is easy, but to play it you need to purchase NFTs. And these tend to be expensive, costing several hundred dollars or even upwards of $1,000.
To combat this problem, there are types of Axie grants/sponsorships and loan programs being implemented. For example, there’s the decentralized startup Yield Guild Games , which recently partnered with crypto exchange FTX to provide financing to 137 new “scholars” from Axie Infinity to create new Axie monsters.
However, according to the report from developer Sky Mavis, the team registered 1,082 million DAU and over 1 million holders of Axie NFTs on August 9th. That’s more than 910,700 DAU and 836,275 wallets with Axies seen on August 2nd.
According to dapp data aggregator and analytics firm DappRadar, the dapp industry registered more than 1.4 million daily unique users during July alone – an increase of 23.72% over June.
“Axie has become the most valuable NFT collection of all time,” he said, with more than $830 million in trading volume, with $600 million occurring in July alone – representing a 453% increase over “ an already robust June”.
“Despite facing several technical issues that left thousands of players without access to the gaming platform, the game not only maintained its intense usage, but increased significantly”,
said DappRadar, adding that,
“Games played to win are creating microeconomies of their own.”
AXS is the governance token for the Axie Infinity game. This helped Axie generate more revenue during July than all of the Ethereum (ETH), Binance Smart Chain (BSC) and Bitcoin (BTC) block chains respectively, the report said, citing data from Token Terminal.
According to the chart of top dapps and blockchains based on cumulative protocol revenue for the previous week, Axie Infinity took first place with $86.5 million on Aug. 8, by Token Terminal.
Ethereum overtaking Axie? 👀📊 pic.twitter.com/cVnuR1vcgm
— Token Terminal (@tokenterminal) August 8, 2021
The massive growth caused some problems along the way, however, specifically with the server, “as our battle logic system failed to keep up with the increasing number of players“The team said in an August 3 development update, adding that the issue was resolved in a matter of days.
At 7:20 UTC, the 54th currency by market cap, AXS, is trading at $43. The drop is 4.5% in one day and up 12% in one week. Overall, in the last 30 days, it has appreciated by 157%.
The currency hit its all-time high of $52 less than two weeks ago on July 27, falling 18% since then.