A report published by the Bitcoin Foundation on August 6, 2026, highlighted a data trend: Axie Infinity’s AXS token recorded a significant price increase. This movement immediately reminded the market of the 2021 play-to-earn crypto gaming boom. At that time, Axie Infinity was a pioneer that attracted millions of active players to its ecosystem, with the largest user base coming from Southeast Asia, including Indonesia.
That golden era ended with a hard landing. In 2022, the game collapsed drastically alongside an exodus of its players. The heaviest blow came when Ronin Network, the Ethereum sidechain built by Sky Mavis that supports Axie Infinity, was hacked for $625 million. This tragedy was once seen by many as the final chapter for Axie’s future.
What is Driving the AXS Token Turnaround
Today’s AXS price increase is not merely a reflection of the rising crypto market. The report notes several main drivers behind this recovery. The first factor lies in substantial gameplay updates. These updates go hand in hand with Sky Mavis’s steps to expand the Ronin Network ecosystem, proving that the network has successfully overhauled its system following the past hack incident.
In addition to internal factors, the movement of AXS is also riding a wave of general recovery starting to flow into the GameFi sector. Data from the PlayToEarn tracking platform shows a rotation of investor interest to the broader crypto gaming space. In their 24-hour score metrics, several games recorded extreme figures. SpinTycoon rose 866%, followed by NEOFANTASY at 840%, and gangsterarena recorded a surge of 672%.
Do Venture Capital Investors Still Believe
The stir of liquidity into gaming tokens has sparked two opposing views in the industry today. This GameFi recovery trend contrasts with the conclusions of Traders Union. In its report regarding the industry’s decline, Traders Union assessed that blockchain gaming has never truly succeeded in becoming a mainstream entertainment medium.
However, the flow of institutional money signals otherwise. Confidence in injecting capital into the Web3 gaming sector is apparently still alive. The latest evidence is seen in Yooldo, a Web3 gaming platform that recently secured $1 million in funding from FZF Ventures. This event confirms that venture capitalists are still looking for entry points into the blockchain-based gaming space.
For old players in Indonesia who once spent time tending to digital monsters, today’s AXS chart is more than just a movement of numbers. This momentum proves that crypto projects that do not stop building despite being devastated can reclaim the stage when the cycle turns.
Reported by the Bitcoin Foundation.
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Disclaimer: This article is for informational and educational purposes only, not financial advice. Cryptocurrency assets are highly volatile and carry significant risk. Always do your own research (DYOR) and never invest more than you can afford to lose.
