Here's Why Ethereum-Based Axie Infinity Is Launching A Decentralized Exchange

The Ethereum ETH/USD-based gaming start-up Axie Infinity has launched a new decentralized exchange called Axies.

The new product, which Sky Maven launched on Friday, will help in the trading of tokens used within its ecosystem.

The firm aims to bridge the developing gaming world with the market for decentralized finance.

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The NFT-based online video game has seen its user-base grow from some 38,000 active users in April to around 1.7 million active users in August.

Its weekly volume has declined from $220M from peak to around $130M.

Recently, Axie Infinity completed a $7.6 million funding round from billionaire entrepreneur Mark Cuban.

It has gained momentum in the Philippines, where a growing number of gamers play Axie Infinity to earn crypto that supplements their existing income.
Photo: axieinfinity.com

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