Blockchain Gaming is on the Rise
We first featured ‘Axie Infinity’, a blockchain-based trading and battling game, approximately a month ago…And, its unprecedented success has already had a profound impact on the cryptocurrency space at large.
Axie Infinity Shards ($AXS), the Ethereum tokens that both govern the core gameplay and serve as investable shares, have gained nearly +70% in the past month, alongside a massive spike in active users around the world.
This growth has not gone unnoticed.
Consumer Mentions of blockchain-based games have exploded higher in recent months: +656% QoQ (30d moving average).
Several key elements make blockchain games unique, the most important being the ability to play-to-earn.
Players earn cryptocurrency tokens (like $AXS) for completing challenges in-game. Additionally, all items and assets are NFTs, which can be sold on the open market for financial gain.
Axie still holds a commanding lead as the #1 blockchain game, but there are untold 100’s that have appeared in the past month, hoping to capitalize on its success.