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According to reports, leading non-fungible token (NFT) online video game Axie Infinity raked in $1.3 billion in revenue over the past year. In addition, blockchain analytics firm Nansen also reported that Axie crested at a daily peak of US$17.5 million on Aug. 6, 2021. Furthermore, the online game, which uses Ethereum-based crypto, recently became the first NFT series to hit $4 billion in sales volume.
At the moment, more than 2,8 million unique addresses hold 11 million Axies, the platform’s in-game NFTs. In addition, 97% of these addresses hold the minimum threshold of three Axies, which is a requirement to playing the game.
Axies’ native tokens SLP and AXS are currently trading down no less than 70% off their respective record highs. This is because of a sharp decline in its user base late last year as a result of an expensive entry barrier. The situation eventually resulted in lower profits for Axie players.
Axie Infinity previously announced that it would launch its V3 update at the end of the first quarter this year. This development will reportedly include a set of free starter Axies which is a marketing attempt by the platform to entice new players.
Known for its in-game economy, Axie was developed by Vietnamese studio Sky Mavis, and launched in 2018. As at September last year, a majority of its players resided in the Philippines.
