Axie Infinity, the popular blockchain-based gaming platform, has reached a significant milestone. The all-time NFT sales revenue on the Axie platform has crossed $4 billion.
According to DappRadar, Axie Infinity is the third-largest NFT marketplace—after Opensea and LooksRare. Interestingly, Axie Infinity added its last $2 billion in NFT sales in less than six months. Over 1,71,000 NFTs have been sold on the platform, at an average per-unit price of $115.92, to date. The most expensive Axie ever sold was priced at $820,000.
On par, AXS (Axie Infinity token)has witnessed a steady growth of over 3,000% in the last 12 months. marking an increase of over during the period. It hit an all-time high level of ₹13,549 in the recent 2021 bull run.
Axie Infinity was launched in March 2018 as a play-to-earn (P2E) video game platform. Inspired by Pokemon game series, its game allows players to purchase digital pets called “Axies” in the form of NFTs. Each Axie is unique. Gamers can use them in battles against other players, kept as collectibles, or traded for digital pets.
As an incentive, players are rewarded with SLP (Small Love Potion) tokens. These can be used to breed new Axies or exchanged with other Ethereum tokens, including with Axie Infinity’s native token AXS.
The P2E gaming platform has over 2.8 million daily active players and is experiencing strong growth on the back of the interest rise around GameFi platforms.
To further boost the adoption and sale of NFTs on the platform, Axie Infinity plans to launch a free-to-play feature called “starter monsters”. These “monsters” will allow new users to experience the game before making their first investment. The update is expected to be rolled out at the end of Q1, 2022.
With all these developments, it sure looks like Axie Infinity’s game plan is set to work out.
Disclaimer : Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions. The information provided in this post is not to be considered as investment/financial advice from CoinSwitch. Any action taken upon the information shall be at user's own risk.
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