Axie Infinity AXS

Axie Infinity (AXS) was trading at $0.9177, ranked #193 by market cap at $160.23M, with 24h volume of $34.47M.

Data snapshot: 2026-09-02 12:15 UTC. ↻ Refresh live price

Axie Infinity was the game that made play-to-earn a household phrase in crypto, at its 2021 peak drawing hundreds of thousands of daily players — a large share of them in the Philippines and Venezuela playing for income rather than fun. That model proved unsustainable once new-player growth slowed and rewards fell, and the Ronin sidechain it runs on suffered one of the largest bridge hacks on record in 2022; the studio has since rebuilt around games people would play regardless of earnings. Axie Infinity is the most instructive case study in crypto gaming, because it worked and then it broke. At its peak it was a genuine source of income in parts of Southeast Asia, and that was the problem: rewards had to be funded by new players buying in, so when growth slowed the economy contracted quickly. The team has since redesigned it around gameplay rather than earnings. Anyone evaluating a play-to-earn token should read that arc first — it is the clearest available evidence about what happens when a game's economy depends on inflows.

Market cap decides how big a bubble is drawn, so rank is what places AXS on the map relative to the rest of its sector.