Axie Infinity Hits 1 Million Daily Active Players, First NFT Project to Hit $1B All-Time Trade Volume
The Ethereum game Axie Infinity continues to see demand as the developer Sky Mavis revealed on Friday there are now more than 1 million daily active players. Additionally, the game token utilized within the Axie Infinity gaming universe tapped an all-time high at $52 per unit 10 days ago. Despite being down 18% from the price high, axie infinity (AXS) tokens have gained over 60% in the last two weeks.
Axie Infinity Celebrates 1 Million Daily Active Players
While blockchain gaming and non-fungible token (NFT) assets continue to see significant interest, the developers of the Ethereum-based game Axie Infinity revealed the project’s overall growth.
“It’s official,” the Axie Infinity Twitter account said on Friday. “More than 1M daily active players. Let’s keep pushing, together.” For further clarification, the Twitter account for the project also added that “some players download the game client without owning Axies. There are still less than 1M Axie owners.”
Interestingly, a few Twitter accounts complained to the Sky Mavis developers about issues with the other token tied to the game called smooth love potion (SLP). Axie infinity (AXS) tokens have done extremely well during the last two weeks while also gaining 218% over the last month. SLP’s market performance, on the other hand, has faltered.
Smooth Love Potion Slides in Value, Axie Infinity NFT Volumes Climb
SLP has lost 27.9% during the last week and 14-day stats show SLP is down 35.1%. Even 30-day metrics indicate that SLP is down 1.2%, which is significantly lower than the gains AXS has seen.
AXS has a $2.3 billion market capitalization on Friday which is 0.13% of the crypto economy’s $1.79 trillion value. In the last day, $601,927,662 in global AXS trades were settled and 79% of those swaps have been paired with tether (USDT). The Binance stablecoin BUSD captures 9.9% of AXS trades, BTC commands over 5%, and the U.S. dollar has around 4.2% of all trades today.
What a day. @AxieInfinity is the first NFT project to hit $1Bn in
all-time NFT trading volume.
History in the making. $AXS pic.twitter.com/oAc0rOYD9n
— Psycheout – Aleksander | Axie Infinity (@Psycheout86) August 6, 2021
SLP has a much smaller market cap at $134,565,864 which is only 0.01% of the $1.79 trillion crypto economy. There’s been around $106 million in 24-hour SLP swaps on Friday and 59% of those trades are in BUSD. ETH commands 35% of SLP trades and tether only has around 4.2% today.
The U.S. dollar only captures around 1.1% of the token smooth love potion’s trades. On Friday one of the co-founders of Axie Infinity tweeted about the project’s NFT trade volume. He wrote:
What a day. Axie Infinity is the first NFT project to hit $1Bn in all-time NFT trading volume. History in the making.
What do you think about the Axie Infinity project and how its assets have been performing lately? Let us know what you think about this subject in the comments section below.
Image Credits: Shutterstock, Pixabay, Wiki Commons
Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.