Axie Infinity’s AXS Token Reaches Its New All-Time High

price of AXS, the native token of blockchain gaming platform Axie Infinity, today hit a new all-time high of $ 32.19, according to crypto metrics platform CoinGecko.

At the time of writing, the price of AXS has slowed as the token is trading at $ 30.62, up 31.2% in the last 24 hours.

Axie Infinity is a Pokémon-like cryptocurrency game that allows players to collect and breed various fantastic creatures and compare them to other users’ pets. popularity of the game has risen recently, making Axie one of the most popular crypto games on the market.

Additionally, each of the Axie animals is actually a non-expendable token (NFT), which itself is another booming sector in the cryptocurrency sector. NFTs are a provably unique special type of token that cannot be duplicated or forged.

Thanks to this scarcity, NFTs, which can be minted singly or in small batches, have become very popular with collectors. As a result, the prices of such tokens, which can represent all kinds of digital media, such as works of art, music, video clips or virtual pets, can reach millions of dollars.

It is not just the token that is in a tear. Thanks to renewed interest, the general protocol is making millions in gaming commission revenue. For the past 30 days, Axie Infinity is the most profitable blockchain application, ahead of many of DeFi’s “blue chip” tokens on Uniswap, Aave, and SushiSwap.

png »alt =» Green graph showing revenue from various cryptographic protocols. » style = »max-width: 100%; overflow: hidden; width: 100%» /> Game fees are held in Axie’s treasury funds. Source: Token Terminal

However, it remains to be seen whether the trend can continue. AXS outperformed almost every other large-cap cryptocurrency on the market, including Bitcoin and Ethereum this month.

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