Axie Infinity, a play-to-earn blockchain game, has surpassed $4 billion in total NFT sales.
- Crypto metaverse game Axie Infinity's NFT collection is the first to reach $4 billion in sales, CryptoSlam data showed.
- The game, in which players compete for NFTs, has grown in popularity, and its NFT sales now outstrip those of CryptoPunks.
In the year 2021, both NFTs and play-to-earn games drew a lot of attention in the crypto world. Axie Infinity has undoubtedly pushed the adoption of NFT and play-to-earn games forward.
Axie Infinity is an Ethereum-based non-fungible token (NFT) blockchain game. In the game, players fight each other with NFT "Axies." On their NFT marketplace, these "Axies" can be traded.
Smooth Love Potion tokens are earned during the game and can be traded for real money on a cryptocurrency exchange.
CryptoSlam on-chain data shows that, Axie Infinity has sold over $4 billion in NFTs since its launch. It also shows that since its inception, there have been 14.45 million transactions and 1.62 million buyers.
When it comes to NFT sales, Axie Infinity is the most popular collection. The CryptoPunks collection is in second position with $2 billion in sales, and the Bored Ape Yacht Club is in third place with $1.35 billion in sales, according to CryptoSlam data.
Around three billion individuals play video games around the world, according to the World Economic Forum. This new sort of gaming, which is based on blockchain technology, is still in its infancy, but it is ushering in a new digital economy into the game world.
Particularly in emerging market countries like the Philippines and Venezuela, where individuals play games like Axie Infinity to earn the money they need due to their economic, social, and political circumstances.
The blockchain NFT games add value to digital objects, and they play a significant role in the future, particularly in the metaverse, which appears to be the direction we are heading.
With a market capitalization of $2.98 billion, AXS is the 41st most valuable cryptocurrency. It is currently trading at $49.05, down 9.35 percent in the previous 24 hours.
The cryptocurrency has dropped 70% since its all-time high of $165.13 in November 2021. The cryptocurrency reached a high of $65 over the previous week, after which it began to fall until it reached $50.
Then it dropped to $56 before starting to rise again. It gained support at $46 on February 22 and began rising upward.
Despite the fact that the NFT market has been cooling this month, NFTs worth $1.7 million were stolen in OpenSea over the weekend. Last week, the most valuable CryptoPunk was also sold for $23.7 million.
NFT blockchain-based games are growing more popular as global crypto acceptance rises. Web2 gamers will undoubtedly embrace the new era of play-to-earn gaming in Web3.