• Axie Infinity became the most traded NFT series of all time last quarter

  • The monster fighting NFT game Axie Infinity became the most traded non-fungible token series of all time in Q3 2021, surpassing NBA Top Shot and CryptoPunks, generating over $2.5 billion in trading volume.

    According to the latest BGA Blockchain Gaming Report from analytics site DappRadar, Axie Infinity traded $2.08 billion in the quarter, representing 83% of its all-time transaction value. The game also made $800 million in revenue during the quarter.

    The broader cryptocurrency gaming space also performed well in the third quarter, according to DappRadar. The blockchain industry records 1.54 million unique active wallets (UAWs) – unique addresses that interact with smart contracts – every day, somewhat similar to daily active users, although individuals can hold multiple wallet addresses.

    This was up 25% from the previous quarter and 509% year-over-year; of those 1.54 million UAWs, 49%, or 754,000, interacted with blockchain-based games in the third quarter.

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

    Axie Infinity co-founder: ‘It’s really hard to start playing Axie right now’

    However, it’s not all smooth sailing for Axie Infinity; at last week’s Token 2049 conference, its co-founder Aleksander Leonard Larsen admitted that “it’s really hard to start playing Axie right now” due to the game’s steep learning curve and the fact that half of its 2 million daily active players have never used any kind of cryptocurrency app.

    Axie’s 1.1.0a update

    The game has also released update 1.1.0a, which includes tweaks such as resetting Axies to one level every time you change owners and reintroducing the option to challenge your friends.

    It also restricts accounts with a match rating (MMR) below 800 from receiving Axie’s Smooth Love Potion (SLP) tokens from adventures, arenas, or daily quests.

    This last point has proven to be divisive among the Axie fraternity. Some players have welcomed the move as it eliminates bots from the game and encourages competition, while others feel it marginalizes lower ranked players.

    Given that Axie Infinity has a thriving gaming community with a growing number of players in emerging economies making a living from the game, any change to Axie’s economy is bound to be controversial.

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