Axie Infinity Loses 82.85% In Monthy Revenue, OpenSea Notes Near 37% Gain

 1 year ago
source link: https://cryptomode.com/axie-infinity-loses-82-85-in-monthy-revenue-opensea-notes-near-37-gain/
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There is much excitement surrounding decentralized applications (DApps) across various blockchains. However, there are only so many applications generating decent revenue in the past month. There are some surprising changes in these rankings, which is rather interesting. 

OpenSea (+36.93%)

The world’s leading NFT marketplace has found a way to increase its overall trading volume and global interest in non-fungible tokens. More importantly, the protocol revenue is skyrocketing, topping almost $75 million in the past month. None of that OpenSea revenue goes to the users per se, yet it represents a 36.93% increase in revenue for the month. The renaissance of NFTs may not last long, though. 

dYdX (-43.52%)

The appeal of dYdX is letting users trade perpetual contracts at low fees, deep liquidity, and over 25x in Buying power. Trading perpetuates is a prominent development, and the fourth iteration of the protocol will be released before EOY 2022. Although the revenue generation of this platform isn’t overly important, it decreased by 43.52% this month to $32.07 million. 

Axie Infinity (-82.85%)

Things are not looking that great for the leading play-to-earn game on the market today. Although Axie Infinity has monthly revenue of $25.83 million, it represents an 82.85% decline (again). The overall revenue trend for this game is worrisome, which may explain why the project is getting a lot of negative attention from those farming the game for rewards. In addition, sustaining that near $2 billion market cap will be tough for various reasons. 

PancakeSwap (-45.5%)

The recent bearish market trend has affected all major cryptocurrencies. That also bodes problematic for the revenue generation of most DApps today. PancakeSwap, the leading decentralized exchange on the Binance Smart Chain, suffered a 45.5% revenue decline to $19.84 million. Not a good trend for those seeking liquidity provider rewards, but it is par for the course under these circumstances. 

MetaMask (-46.5%)

No one can deny Metamask is the leading Web3 wallet that provides convenience and access to all DApps one can think of. Although there is no MetaMask revenue-sharing solution whatsoever, the protocol has $12.3 million in monthly revenue. That is still a 46.5% decrease compared to the past month, though, but that is mainly due to falling asset prices. 


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