• Last quarter, Axie Infinity became the most traded NFT collection ever

  • Axie Infinity, a monster-battling NFT game, became the most traded non-fungible token collection ever in Q3 2021, outperforming NBA Top Shot and CryptoPunks with over $2.5 billion in trading volume.

    Axie Infinity had a trading volume of $2.08 billion during the quarter, accounting for 83 percent of its historical trading value, according to the latest BGA Blockchain Game Report from analytics site DappRadar. During the quarter, the game also generated $800 million in revenue.

    According to DappRadar, the broader crypto gaming space performed well in Q3. Every day, the blockchain industry recorded 1.54 million unique active wallets (UAW)—unique addresses that interact with a smart contract, similar to daily active users, though individuals can hold multiple wallet addresses.

    This represents a 25% increase over the previous quarter and a 509 percent increase year over year; of those 1.54 million UAWs, 49 percent, or 754,000, interacted with blockchain-based games during Q3.

    Axie had a busy third quarter, launching a staking service for holders of its AXS governance token and airdropping $60 million in AXS tokens to early game players. Sky Mavis, the creator of Axie, raised $152 million in a Series B funding round led by Andreessen Horowitz in October, valuing the company at $3 billion.

    However, Axie Infinity hasn’t had an entirely smooth ride; at the Token 2049 conference last week, its co-founder Aleksander Leonard Larsen admitted that it’s “really hard to begin playing Axie right now,” owing to the game’s steep learning curve and the fact that half of its two million daily active players have never used any kind of crypto application.

    Axie’s 1.1.0a release

    Yesterday, the game also received its 1.1.0a update, which included changes such as resetting Axies to level one when they change owners and reintroducing the option to challenge your friends.

    It also prevents accounts with less than 800 Match Making Rating (MMR) from obtaining Axie’s Smooth Love Potion (SLP) tokens from adventures, the arena, or the daily quest.

    That last point has caused some consternation among the Axie community. Some players have praised the move for removing bots from the game and encouraging competition, while others have complained that it marginalizes lower-ranked players.

    Given that Axie Infinity has a thriving play-to-earn community, as well as a growing base of players in emerging economies who make a living from the game, any change to Axie’s economics was bound to be contentious.

    What's your reaction?
    Happy0
    Lol0
    Wow0
    Wtf0
    Sad0
    Angry0
    Rip0