![]() Over 40% of all traffic to comes from the Philippines, with a further 6% logging in from Venezuela. With the ability to earn money through the game, many of Axie Infinity’s new players have come from economically disadvantaged countries. While this rate may not be competitive in most western countries, in the Philippines, it amounts to more than five times the minimum wage in some regions. Using current SLP prices, playing the game every day can net over $1,200 a month for the average player. The model has been particularly effective in the Phillippines, where the game has exploded in popularity in recent months. Axie Infinity works on a “ play-to-earn ” model, where players are rewarded with the SLP (“Smooth Love Potion”) token for the time and effort spent playing the game and growing the ecosystem. While the Ronin sidechain has helped improve Axie Infinity’s in-game experience, attracting players who were not already interested in blockchain technology has also been key to the game’s growth. Additionally, Ronin has simplified the onboarding process for new players, allowing those with little experience using blockchains to start playing. ![]() Launching a dedicated sidechain has drastically reduced gas fees and improved transaction speeds. Known as “Ronin,” the sidechain is made specifically for Axie Infinity and handles all in-game and marketplace transactions of Axies, land, and items. One of the biggest catalysts for Axie Infinity’s growth was migrating the game from Ethereum mainnet to an Ethereum-linked sidechain. Axie Infinity□□ JAxie Infinity’s Rapid Ascent Greg, one of only 19 triple Mystic Axies, just sold for 369 ETH □□□ Back In June, the same Axies cost less than half the current price. Even the prices for the cheapest Axies have risen, with a set of three needed to play the game now averaging $1,300. 4, one of only 19 Triple-mystic Axies sold for an eye-watering $820,000. Prices for plots of virtual land and ultra-rare Axies are also increasing. On the game’s marketplace, rare Mystic Axies sell for upwards of $56,000, outpacing the current floor price of around $42,000 for NFT progenitor CryptoPunks. The story doesn’t end there, as Axies, the cute NFT creatures needed to play the game, are also soaring in value. ![]() Aside from its use in-game, AXS token holders receive a portion of the revenue the protocol generates, making AXS an even more lucrative investment. ![]() The token began July trading at $5.66 and has risen around 469%, hitting a record high of $32.19. According to data from Token Terminal, the game has earned $102 million in revenue over the last 30 days, which is higher than every DeFi protocol combined.Īdditionally, the AXS token, which plays an integral role in the game’s economy, has skyrocketed. ![]() Just one week into July, Axie Infinity surpassed the $12 million in revenue the game made in the entire month of June. To say the Axie Infinity economy is booming is becoming somewhat of an understatement. However, the boom may be the start of a larger trend for the game. Axie Infinity has experienced a rapid rise in recent weeks, with the game’s native token AXS surging 469% this month. ![]()
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