Investors who won the lottery for the AXS public sale on Binance last October and have held on to their winnings are now sitting on more than $250,000.
The phenomenal growth of Axie Infinity and its native token – AXS – in the last year has reaped massive rewards for winners of the AXS Binance launchpad lottery tickets who held their token.
More than $250,000 was made from $200.
According to current market prices, the 2,000 Axie Infinity tokens allocated to each AXS Binance Launchpad lottery ticket, which cost investors $200 at the time, are now worth more than $250,000, representing a gain of more than 124,900 percent in less than a year.
Remember that Binance announced in October 2020 that the Axie Infinity public sale will take place on its Launchpad. Axie Infinity, a popular play-to-earn non-fungible token (NFT) gaming project, became the 17th project to go live on the Launchpad.
The AXS token sale was held in the form of a lottery, with 14,850 tickets available to be won at the time.
The event, which began on October 27, 2020, saw the exchange take seven-day snapshots of users’ Binance Coin (BNB) balances to determine the number of AXS lottery tickets to be distributed to each user.
According to Binance, 29,700,000 AXS were allocated to the Launchpad, accounting for 11% of the total supply of the tokens.
Since each unit of AXS was priced at $0.10, each lottery ticket received 2,000 units of AXS coin, and $200 worth of BNB was deducted from the winners’ Binance spot balance.
AXS’s Year-to-Date Growth
While many would be surprised to learn that a $200 investment is now worth more than $250,000 in a year, it is important to note that Axie Infinity has been on an impressive run since January 2021.
According to a recent report, the number of AXS active holders reached a new all-time high (ATH) of over 17,480 addresses, indicating that the token has grown in popularity among crypto investors and blockchain gamers.
Aside from the increasing number of AXS active holders, Axie Infinity now has over 1.5 million active users trading the cryptocurrency on major exchanges such as Coinbase Pro, Binance, and KuCoin, among others.
Popularity of NFT Gaming
Recently, there has been a lot of interest in NFTs, with a lot of celebrities from the sports and entertainment industries getting involved.
Blockchain gaming is a major area of interest among retail investors in the NFT space. The massive interest in NFT gaming could be attributed to a large extent to the meteoric rise in AXS’ value.
This market had a total valuation of nearly $180 billion as of August 2021, with the value expected to exceed $200 billion in the coming months.