IntoTheBlock data shows that the growth in "total with balance" addresses (holding AXS tokens in their wallet) has overcome the growth in "total zero balance" (which is considered a bearish metric).
The Blockchain empowers gamers to really own the things that they're creating, to really actually monetize the time that they are spending playing these video games. Traders play 50 to 80 days to recover their initial investment of $800, and then they can expect to earn anywhere between $10 to $15 a day by playing the game.Īlexis Ohanian, the founder of VC firm Seven Seven Six, commented on Axie Infinity Every time a user sells an Axie on an NFT marketplace they can earn an average of $270. Though there are costs that players incur every step of the way – buying Axies (about $800), breeding them, and so on. The revenue is derived from profit splitting between the scholarship provider and the player. Players develop a passive income stream by buying additional creatures and offering scholarships to new players who cannot afford their Axies. Three Axies are needed to play the game with a reasonable profit. Buying two Axies and breeding them for the third is one of the most popular strategies. To start playing, traders deposit Ethereum to Ronin wallet – Axie Infinity's sidechain linked to Ethereum – and buy Axies. Players who invest several hours a day earn anywhere between $8 to $40, depending on their Axies, powers and incentive during game play. Each different strategy in the game opens a wide range of profit-taking opportunities for the player.
The Coinbase listing has pushed AXS price higher in the past week, however, there are more ways to earn from Axie Infinity. The US-based exchange announced the listing on TwitterĪXS and Coinbase are together at last! #AxieGang let’s go!!! /y0jXI2ws90 However, the increase in daily active users cushions the existing selling pressure that arises from profit taking on exchanges.Ĭryptocurrency exchange Coinbase recently noted the surge in AXS demand by crypto enthusiasts and listed Axie Infinity Shards. This implies that traders are exchanging AXS for stablecoins to safeguard profits. On further analysis of AXS, it is clear that 81% of the Axie Infinity trades are in the USD Tether (USDT) market. In the past two months, AXS has offered over 2,000% in returns to traders.
Traders exchange these tokens on cryptocurrency exchanges to earn revenue. There are two Ethereum tokens that players earn, Axie Infinity Shards (AXS) and Smooth Love Potion (SLP). The game features Pokemon-like creatures called Axies, and their powers can be traded and exchanged as non-fungible tokens on P2P marketplaces. Coinbase listing Axie Infinity triggers bullish outlook on AXSĪxie Infinity, an online multiplayer video game, has gained popularity in the gaming and crypto community. On-chain analytics suggests that AXS has long-term growth potential, and the "play to earn" game is currently one of the highest-grossing crypto applications.Īnalyst Nick Grous of Ark Invest noted that players who lost their jobs in the pandemic earn by playing Axie Infinity 40% of the daily active users live in third-world countries like the Philippines.AXS has rallied over 900% in two months.Recent Coinbase listing led to a bullish week for Axie Infinity.Axie Infinity surpassed nearly $1 million in daily active users and $1 billion in sales.
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