One of the leading names in the P2E universe, Axie Infinity, surpassed $4 billion in all-time non-fungible token sales. Currently, it is the third largest NFT project behind OpenSea and LooksRare.
Reaching a new milestone
Released in 2018, Axie Infinity is among the most popular blockchain games to play and win. However, it wasn’t until 2021 that it gained wide acceptance.
Both the NFT space and the P2E business model began to thrive last year, with most projects increasing their sales of non-fungible tokens 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 achieved this is almost 2 million, while the average price of digital collectibles sold is $198. Axie Infinity’s growth has been considerable as six months ago its trading volume stood at $1.1 billion.
OpenSea is the undisputed leader among all NFT markets, with a total trading volume of over $21 billion. LooksRare ranks second with nearly $17 billion.
$2.3 million in ETH for Axie Infinity Plot
In November of last year, an anonymous buyer bought a single plot of digital 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 in Axie Infinity, which is considered extremely rare as there are only 220 in existence.
The NFT marketplace offers other in-game assets and parcels of land that can be sold as non-fungible tokens.
AXS and SLP prices
Earlier this month, the blockchain game announced that it will be implementing changes to its rewards system to rebalance its ecosystem. Specifically, he 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 increased to almost $0.04 shortly after. However, SLP fell 55% over the next two weeks (in line with the downtrend in the crypto market).
AXS, the native token of Axie Infinity, shot up to almost $72 in early February, while reaching an all-time high price ($160) in November 2021.
Like most cryptocurrencies, AXS lost a significant chunk of its value recently. At the time of writing these lines, it is around $50.
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This post Axie Infinity Surpasses $4 Billion in Historic NFT Sales
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