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Axie Infinity generates $364 million in August, highest revenue since inception

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Data from Axie World reveals that the popular play-to-earn gaming platform generated revenue of approximately $364 million or 120,547.17 ETH in the month of August. Since the platform launched, this is the highest revenue generated in its history.

The Axie Infinity platform has been growing rapidly in 2021. Last month’s revenue generation was historic as the platform generated more revenue than it has since it came into existence. The platform generated approximately $530,739 or 1114.39 ETH in 2018, $576,282 or 4,397.95 ETH in 2019, $801,432 or 2,105.6 ETH in 2020 and up until July in 2021, it generated $214 million or 99,407.32 ETH. The combined revenue generated amounts to approximately $216 million or 107,025.26 ETH which is just 59% of the revenue it generated in August alone.

The revenue generation statistics also indicates that the traction and demand for the Axie Infinity platform came in 2021 with over 40% of its users from the Philippines. The Philippines led by active daily participation. This is followed by users from Venezuela (6.31%) and United States (5.72%).

In August the platform also broke its record of average monthly players with 10,705,547 active players. This was made possible as the platform registered a total of 678,017 players, playing the game daily, a new record.

The platform is currently doing a ‘scholarship’ program for individuals who do not have enough money to buy 3 AXS, which is a requirement to play the game. The scholarship allows for a manager/breeder to give out a free Axie team to interested gamers known as ‘scholars.’ The scholar will then play the game using these Axies to earn Smooth Love Potions on behalf of the manager while taking a cut from the earnings.

Bottomline

The AXS token has gained over 14,155% in 2021. It started the year trading as low as $0.84 but it currently stands at $84.62 as of the time of this writing. It is currently ranked #34 by market capitalization which currently stands at $5.12 billion. The token is well on its way to flip PancakeSwap’s Cake, which has a market capitalization of $5.15 billion. The platform has gained so much traction in the Philippines that the Department of Finance in the country, has stated that players of the game will begin to pay income taxes as reports have stated that the platform has helped as an alternative source of revenue

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