Lunacia’s Q3 State of the Nation Address
Axie is Fully Charged ⚔️
Key Points
Over the past few months, Lunacia has been charging up like the engine of a SpaceX Falcon 9 rocket. Game DAA and MAA are up. Bounty Board participants are up. Collectible axie volumes are up. In this State of the Nation, we’ll discuss why.
Axie games surpassed 87K DAA and cumulative year-to-date App.axie volume reached 25.6M USD. These are real players making real onchain transactions and logging more than 100M matches in Origins and Classic combined since January. In Part 1, we’ll dive into these metrics and more.
Collectible axie trading volume has been trending upwards over the past year. In Part 2, we’ll explore the reasons behind this surge.
Part 1: The Axie Ecosystem
Fellow Lunacians. Today, we’d like to share undeniable evidence that our digital nation has been charging up like the engine of a SpaceX Falcon 9 rocket over the past few months. We believe one of the reasons for the slow Web3 summer is that hype-driven narratives have cast a shadow over the real builders in our space. However, the sun keeps rising in Lunacia – and it’s impossible to stay in the shade much longer.
Game DAA and MAA are up. Bounty Board participants are up. Collectible axie volumes are up. How did this happen? Why are users flocking to Axie? Let’s begin by zooming out to see the big picture, and then zooming in to see the pieces that make the puzzle.
The Axie ecosystem MAA has been on a steady climb to 155K this year, even clocking in over 210K during the Coinbase Learn and Earn campaign. This ascent began in March after we introduced Guilds to Axie Classic. The countless updates we shipped to Origins fueled this rise, while Homeland retained its core player base. It’s been a good year for Axie games.
The Bounty Board is a questing system built into App.axie. Complete bounties, earn rewards. In July, we launched a Premier Bounty Board, cranked up the rewards by 2x, and loaded up new quests. The result? Moar. Growth. There are now more Bounty Board participants than Axie players, which means our ecosystem appeals to more user archetypes than gamers. Pro tip: that’s because many of the Premier Bounty Board quests reward a different user archetype: collectors.
App.axie trading volume also reached 25.6M USD. The June surge was the result of our Learn and Earn Campaign with Coinbase, where new recruits discovered Axie for the first time.
Treasury Revenue grew at an average rate of 300K USD per month or so. Axie sales. Ascension and Evolution fees. Rune and Charm purchases. Brick by brick, the small actions add up to big results.
In the past 9 months, millions of players and axies have interacted with Lunacian smart contracts. We even welcomed over 200K new recruits! The only thing that went down was the SLP supply, which decreased by 200M. How did that happen? On its own, Origins’ new Meta Morph feature resulted in 15M SLP burned over 2 months.
Part 2: The Collectible Spectacle
Over the past few months, collectible axies have driven a growing percentage of App.axie transaction volume. There are reasons for this: the Meta Morph feature brought new utility to Mystic axies, the Premier Bounty Board rewarded the completion of collectible-related quests, and Part Evolution continues to require releasing specific axie classes. We also increased collectible axies’ potential Fortune Slip output in October, although it’s too early to track the impact.
Mystic axies are the crown jewel of Lunacia, and there are only 1,337 in existence. As a result, sales tend to be low volume, high price. In September, the Mystic Axie VIP Party at Singapore’s Token 2049 also brought holders together IRL, which kicked off a buying spree we’re calling Mystic Madness.
Origin and MEO axie trading volume also picked up in Q3. These axies are great for Lunacians looking to hold a rare collectible without splurging on a Mystic. Over the past couple of months, holders have been receiving offers just below the average transaction prices listed above. More sales, more liquidity.
Christmas, Japanese, and Summer axies have posted solid numbers this quarter as well. In general, these collectibles have doubled in transaction volume this year alone. Many of these axies get released for parts, or locked down for their Fortune Slips.
Final Thoughts
Six years ago, axies were only lines of code – no art. Since then, they’ve become digital companions. Collectibles. Even heirlooms. This is what happens when relentless shipping meets a passionate community. Let’s keep pushing.