Tuesday, October 4, 2022
HomeNFTAxie Infinity NFT hits $4B in sales

Axie Infinity NFT hits $4B in sales

Axie Infinity, the play-to-earn superstar, became the first non-fungible token (NFT) series to break the US$4 billion barrier in record sales. Axie Infinity, which operates on the Ethereum sidechain Ronin, has nearly doubled the aggregate sales volume of the second-place NFT collection, CryptoPunks.

Despite the overall crypto market’s slumping, the NFT market has had a strong start to 2022, with January setting one of the highest monthly sales records ever. Axie Infinity is a game in which players fight Axies’ ‘ – miniature Pokémon-like animals that are also NFTs – for SLP, which can then be used to hatch Axies, trade on the spot market, or stake for profit. Users must start with three Axies, but they can buy, trade, and ‘breed’ more as they continue in the game, and this demand is what keeps the game selling at record levels.

The game exploded in popularity in May of last year, especially in the Philippines, when the Covid-ravaged economy found a new source of income at home.

Despite the fact that both of the game’s native cryptocurrencies, AXS and SLP, have lost over 7% in the last 24 hours due to a larger market slump, Axie Infinity has seen consistent player growth, with over 3 million players worldwide in January.

That’s all record-breaking from Axie Infinity for now.

 

Kunal Krishan
Kunal is an investment space writer who firmly believes investment is something which should not be a choice but a part of everyone's life.
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