With the popularity of the Axie Infinity game, the dominant coin AXS also exploded in the stock markets. As BTC fell, the AXS coin increased 10 times and dragged other NFT coins in pursuit.
The crypto money market has been in a downtrend especially for the last couple of months and has not been able to straighten its back due to the negative news from China. However, one project managed to attract all the attention.
What is Axie Infinity?
Axie Infinity is an NFT game. You develop it by feeding and fighting unique monsters in the game. The main currency of the game is AXS and you can sell your monsters through AXS. You also earn SLP tokens for tasks such as feeding monsters or holding AXS. To start the game, it is necessary to throw some AXS into the wallet.
Axie Infinity has gained huge popularity in the last couple of months. Particular attention was drawn to the large profits from NFT sales. Currently, there are around 250 thousand players in the game and the number of daily active players is over 40 thousand. The game, which reached an average of 30 million dollars in total revenue for 30 days, left the Pancake platform behind in this sense and took the first place.
Axie Infinity plans to bring innovations to the game in the near future and raised $7.5 million in the investment round with important names such as Mark Cuban. These developments also had a huge impact on the AXS cryptocurrency.
So much so that within 15 days, AXS increased 10 times and reached $28.5 level. The token, which has a continuous increase graph, created a daily volume of $ 2 billion and rose to the fifth place in the list. Its market value is around 1.6 billion dollars. The prize coin SLP, on the other hand, took this wind behind it and went back to the 33 cent level in May from the 12 cent low level.
AXS has already circulated 61 million coins, but the total resource is 270 million. It looks like the AXS coin will become more valuable as the win rate in the game increases and the developers continue to invest.