You are here
Home > Other Crypto News > Axie Infinity boosting Crypto Adoption

Axie Infinity boosting Crypto Adoption

Axie Infinity is causing a crypto revolution and offering life-changing opportunities to users. The last few months have been blissful for the Axie community as over a million active users have joined the community, and millions have been raked in as revenue.

A recent tweet showed that 50% of Axie’s 1.6 million daily active users are new to blockchain & crypto, and 25% are new to banking & basic finance. What this means is that Axie Infinity is causing a new wave of crypto adoption and helping new people pick interest in blockchain with their play-to-earn model of gaming.

Axie Infinity is one of the crypto-based games to have swelled in popularity this year. It has more subscriptions from struggling and developing countries like the Philippines and other nations whose economies were ravaged by the pandemic and witnessed massive job loss as people struggled for survival.

Those who lost their means of livelihood sought new ways to survive the harsh financial situation in the globe, and many of these newbies had no prior interest in crypto or any skill on how to navigate the system, but with Axie Infinity, people found not only a way to survive but a way to become financially free.

Axie Helping Newbies in Crypto 

More than half of the new active users are first-time blockchain users and a quarter of the figure knows a little about finance, but Axie has provided an easy platform where cryptocurrency is demystified, and the rudiments of earning are learned. With Axie Infinity, jobless gamers have become cryptocurrency traders.

Due to the popularity of the game and the massive influx of thousands to cryptocurrency, the Philippines’ Department of Finance and the Bureau of Internal Revenue reminded players that their Axie Infinity profits are subject to income tax seeing that it has become an earning channel.

Axie Infinity makes its players aware of their finances and impacts a desire to track their earnings, thereby helping people with no form of financial literacy to pick up worthy financial skills as they all intend to keep earning.

The Axie Surge 

The incredible dominance of Axie Infinity over the last month has cemented their position as the most valuable NFT collection of all time. It sold nearly $1.8 billion in a month, which most crypto experts thought was unusual. With its play-to-earn incentive structure, Axie Infinity has become a force in the crypto gaming market that cannot be ignored. Furthermore, the platform has demonstrated the limitless possibilities that exist when cryptocurrency and gaming are combined.

Related Article  Ethereum foundation introduced the Ethereum Execution Layer Specification (EELS)

Leave a Reply