Axie Infinity and dYdX Surpass OpenSea in dApps Revenue

The NFT craze is slowing down again, so decentralized gaming platforms are not only rivaling NFT marketplaces but also surpassing them – Axie Infinity has recorded the most revenue from dApps over the previous month.

Colin Wu, crypto-journalist, commented:

“In the past 30d, Axie Infinity continued to lead the way with $190.9 million in revenue from Dapps. With the cooling of the NFT market, dYdX surpassed OpenSea with 30d $66.9million in agreement income.”

Indeed, Axie Infinity has grown by 200% over the previous three months, and AXS even reached a new ATH of $162 a week ago.

Similarly, Decentraland has registered an increase of 300% after Facebook announced its name change to Meta.

NFTs became highly popular this year, although, in recent weeks, the trend has been on a downward spiral. Still, news surrounding the metaverse could increase the demand for NFTs.

One of the co-founders of Tether, William Quigley, said that NFTs might offer important revenue for the metaverse:

“When it happens, it really is hard to imagine and hard to overstate the impact. I’m betting that the revenue model for the metaverse is going to be NFTs. In video gaming, the revenue model now is virtual items, and that’s a $175 billion business annually. I think the metaverse should be orders of magnitude more than that because it’s everything, it’s not just gaming.”

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