One of the leading names in the play-to-earn universe (P2E) – Axie Infinity – surpassed $4 billion in all-time non-fungible token sales. Currently, it is the third-largest NFT project falling behind OpenSea and LooksRare.
Take a new step
Launched in 2018, Axie Infinity is among the most popular play-to-earn blockchain games. However, it wasn’t until 2021 that it gained wide acceptance.
Both the NFT space and the P2E business model started thriving last year, and most projects increased their non-fungible token sales to new heights.
According to data from DappRadar, the total value of NFTs sold on Axie Infinity reached $4.14 billion. The number of merchants who have contributed to this goal is nearly 2 million, while the average price of digital collectibles sold is $198. Axie Infinity’s growth has been tremendous as six months ago its trading volume stood at $1.1 billion.
OpenSea is the undisputed leader among all NFT marketplaces, with a total trading volume of over $21 billion. LooksRare holds the second position with nearly $17 billion.
$2.3M ETH for Axie Infinity Plot
In November last year, an anonymous buyer purchased a single digital plot of land on Axie Infinity for 550 ETH. At the time of the transaction, this was equivalent to $2.3 million.
The land in question is one of the Genesis plots on Axie Infinity, which is considered extremely rare as there are only 220 in existence.
The NFT Market offers other in-game assets and plots of land that can be sold as non-fungible tokens.
AXS And SLP Prices
Earlier this month, the blockchain game announced it will implement changes to its reward system to rebalance its ecosystem. Specifically, it promised to reduce the supply of Smooth Love Potion (SLP) tokens by 56%, making them more scarce.
As a result, the USD value of the asset jumped to nearly $0.04 soon after. However, SLP fell 55% in the next two weeks (in line with the crypto market’s downward trend).
AXS – the native token of Axie Infinity – spiked to almost $72 at the beginning of February, while it reached an all-time high price ($160) in November 2021.
Similar to the majority of cryptocurrencies, AXS has recently lost a significant portion of its value. As of this writing, it is hovering around $50.
