Since highlighting Axie Infinity in our new project and blockchain section, the price of Axie Infinity grew a further 20% to the current price of $21. Here’s a look at the price active for Axie Infinity, the hottest NFT based game right now:
Over the past 2 weeks, Axie Infinity grew from just under $5 per coin to the current price of $21, marking an impressive 300% return in 2 weeks.
Axie Infinity Growth Data
Here’s a look at their growth data and metrics supporting the wild increase in price action:
|Date||DAU (in-game battlers)||DAU (in-game battlers) Growth Rate||Axie Holders||Axie Holders Growth Rate||Monthly Volume||Monthly Volume Growth Rate|
|Date||Discord Members||Discord Members Growth Rate||ETH in Treasury||ETH in Treasury Growth Rate||AXS in Treasury||AXS in Treasury Growth Rate|
As Axie Infinity token prices continue to rise, it is backed by actual revenue and user growth.
Axie Infinity P/E Ratio
Here’s a look at Axie Infinity’s price over earnings ratio based on Token Terminal.
From the P/E ratio, Axie Infinity is currently trading at 8.9x, and compared to other popular protocols such as Aave (253x), Curve (171x), or Sushiswap (37x), this might suggest that Axie is currently undervalued.
If Axie’s P/E ratio converged with the average P/E ratios of the large cap Ethereum DeFi apps, $AXS price would be easily in the $70-80 range. This is trailing P/E, if you use forward P/E and factor in the growth, it might be even higher.
Coupled with the fact that mainstream gamers have not heard of Axie Infinity, chances are the market is still early in terms of where Axie Infinity can rise to.
High Retention Rate
Another positive metric for Axie Infinity is that among the new Axie Infinity users, the retention rate after 1 day is close to 60%, and 40% after 7 days. A good 1D/7D retention rate in the gaming industry is 30%/10%.
This data is from first quarter and it is probably much higher now that people understand the SLP farm mechanics.
What this means is that esers are growing at a massive rate and these users are staying in the game and keep on playing after 7 days, with best in class industry numbers. They are exchanging value with each other, through in game mechanics such as axies, lands, items and potions, with the marketplace numbers outperforming all other DeFi platform at this very moment.
All of this value is going back into the ecosystem and to Axie token holders as all the net income coming fees is going into the Treasury.
While some might think that the hype will collapse similar to other NFT gaming projects like Cryptopunks or NBA topshot, it may be different for Axie as it combines Community, Utility, and provides great incentives for token holders.