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.
Hitting a New Milestone
Launched in 2018, Axie Infinity is among the most popular play-to-earn blockchain games. However, it was not until 2021 that it gained broad 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 traders who accounted for achieving this is nearly 2 million, while the average price of the sold digital collectibles is $198. Axie Infinity’s growth has been considerable since 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.
$2.3 Million Worth of ETH for Axie Infinity Plot
In November last year, an anonymous buyer purchased a single plot of digital land on Axie Infinity for 550 ETH. At the time of the transaction, this equaled $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 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 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 asset’s USD value surged to nearly $0.04 shortly after. However, SLP retraced by 55% during the next couple of weeks (in line with the downtrend in the crypto market).
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 lost a significant chunk of its value recently. As of writing these lines, it hovers around $50.