Play-to-Earn Axie Infinity Hits $2B in Sales

By Shiela Bertillo

Sky Mavis, a technology-focused game studio, and its players have produced  $2.05 billion gross sales for Axie Infinity, a non fungible token (NFT) game, according to measurement firm DappRadar.

The huge amount is thanks to more than 615,000 traders that have either sold or bought an Axie NFT, totaling 4,887,645 transactions.

Axie Infinity, through blockchain, uses NFTs to uniquely identify its Axies. Gamers spend actual money to procure at least 3 of those characters and engage with other players in battles. Players can level up the Axies and sell them to other players, which generates income for the players. (Read More: Axie Infinity Unveils September 2021 Updates)

“Play-to-earn” games that allows players to  generate income by playing, has taken off in various ways. Currently, Axie Infinity has hit No. 1 in NFT collectibles according to DappRadar who’s tracking the NFT space.

Although its primary function is a game, Axie Infinity remains second to none in the current ranking of NFT collections in terms of its all-time sales, beating big names in the NFT collectibles space like CryptoPunks, Art Blocks, and NBA Top Shot, DappRadar said. 

Representing about 83% of the total volume of game NFT sales in August, Axie Infinity’s collection generated more than $765 million in sales. And despite the rising prices for in-game NFTs, Axie Infinity continues to grow. Currently, according to DappRadar the game now has 1.5 million daily active players.

However, Axie growth data shows that as of September 13, 2021, the weekly volume of the game depreciated to 24.76% compared to the 5.45% increase last week.The Ether (ETH) and Axie Infinity Shards (AXS) in treasury both went down as well, since last week, by 1.75% and 0.19%, respectively.

Overall, the growth rate of the game keeps at a steady and balanced pace. Regarding the in-game currencies that keep the internal market alive, Sky Mavis COO Aleksander Leonard Larsen said last week that the firm recognizes that the AXS cost relative to the Smooth Love Potion (SLP) cost per breed is currently imbalanced; but he noted that reducing the price of AXS per would increase the value of SLP; however, Ronin and the game in its current state can’t handle another massive growth spike that generally follows a high SLP price. 

“We are working hard to improve our capacity for another massive growth spike,” he stated. (Read more on: Axie Infinity Still Can’t Handle a Growth Spike, Says Executive)

Source: Games Beat, Axie Data

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