Axie Infinity

Axie Infinity generated $9.4M in gross revenue from Apr 2023 to Mar 2026 (1065 days), with $9.3M retained as net revenue. Its primary token utilities include Staking Rewards, Staking Access, Status Tiers, Service Payments, Ecosystem Currency, and Other.

This averages $$8.9K in daily gross revenue across the tracked period.

AXS accrues value through 3 mechanisms: Direct Token Burn, Direct Revenue Share, and Other.

• Direct Token Burn: SLP tokens spent on breeding are directly burned and removed from circulation. In 2025, SLP was deflationary with a net burn of 250 million tokens. AXS breeding fees flow to treasury rather than being burned.
• Direct Revenue Share: The Community Treasury contributes a portion of accumulated marketplace and breeding fee revenue toward staker yield (starting at 35% in year one, declining to 15% by year five), distributed directly to AXS stakers.
• Other: The Community Treasury retains and accumulates protocol-owned assets from 4.25% marketplace fees and breeding fees on its balance sheet rather than distributing or burning them immediately. The treasury grew by $4M USD in 2024.

Yes, Axie Infinity burns AXS tokens via Direct Token Burn.

AXS serves 6 primary functions within the Axie Infinity ecosystem: Staking Rewards, Staking Access, Status Tiers, Service Payments, Ecosystem Currency, and Other. The protocol generates fees from user activity. Value flows back to token holders through Direct Token Burn, Direct Revenue Share, and Other.

Token utilities:

• Staking Rewards: AXS stakers earn AXS rewards from a dedicated staking rewards allocation (29% of total supply, 78.3M AXS) distributed gradually over ~5.5 years. Rewards now decrease by 5% every 9 days to enable indefinite distribution.
• Staking Access: Staking AXS is required to gain governance voting rights and to qualify for exclusive reward distributions including bAXS airdrops (minimum 10 AXS staked required for eligibility).
• Status Tiers: The Axie Score system creates tiered benefits where higher scores grant better airdrop allocations, increased voting power multipliers, and lower bAXS-to-AXS conversion fees for high-reputation users.
• Service Payments: AXS is required for breeding Axies (0.5 AXS per breed), ascending, evolving, and other in-game operations. bAXS can also be used for these same activities.
• Ecosystem Currency: AXS serves as a primary medium of exchange across the Axie Infinity ecosystem including the Mavis Market NFT marketplace, in-game purchases, tournament entry, and marketplace transactions alongside ETH, USDC, and RON.
• Other: Governance voting power is calculated using a weighted formula combining staked AXS amount (modifier 1.5) and Axie Score (modifier 0.1), creating a hybrid system that factors in both capital commitment and ecosystem contribution rather than simple 1:1 or time-locked voting.

Value accrual mechanisms:

• Direct Token Burn: SLP tokens spent on breeding are directly burned and removed from circulation. In 2025, SLP was deflationary with a net burn of 250 million tokens. AXS breeding fees flow to treasury rather than being burned.
• Direct Revenue Share: The Community Treasury contributes a portion of accumulated marketplace and breeding fee revenue toward staker yield (starting at 35% in year one, declining to 15% by year five), distributed directly to AXS stakers.
• Other: The Community Treasury retains and accumulates protocol-owned assets from 4.25% marketplace fees and breeding fees on its balance sheet rather than distributing or burning them immediately. The treasury grew by $4M USD in 2024.

In 2026, Axie Infinity generated $301.6K in gross revenue. Of that, $279.4K was retained as protocol revenue (treasury), $22.2K went to supply-side participants (e.g. liquidity providers).

Year-by-year revenue breakdown:

• 2026: $301.6K gross revenue — $279.4K to protocol, $22.2K to supply-side
• 2025: $2.5M gross revenue — $2.4M to protocol, $101.9K to supply-side
• 2024: $3.9M gross revenue — $3.9M to protocol

Axie Infinity's gross revenue has decreased by 31.2% over the past 90 days compared to the prior 90-day period, from $445.2K to $306.1K.

• Recent 90d daily average: $3.4K/day
• Prior 90d daily average: $4.9K/day