Axie Infinity NFT sales on the rise amid ‘Play-and-Earn’ transition

In short

  • Axie Infinity’s NFT jumped 198% last week compared to the previous week.
  • The game based on Ethereum is undergoing a transition to the new Origin experience, defined as having a game-and-find feature rather than game-and-find.

Axie Infinity is one of the largest NFT projects of all time in terms of sales, but has fallen during difficult times in recent months between lack of gaming economy and there is a $ 622 million hack to his Ronin network bridge. However, there are few signs of life that show up in the boss Ethereum The NFT game is back.

Last week, Axie Infinity NFT sales rose by 198% over the past seven days, according to data from CryptoSlam. In fact, it is worth $ 1.38 million NFT a small part of which Axie bought last summer normally it’s over $ 100 million in sales each week, but that’s the biggest jump each week.

Jeff Zirlin, co -founder of Axie Infinity Sky Mavis, tweeted last Thursday another 22,000 Axies have been sold in the past 24 hours – up from 7,000 sold in a 24 -hour period a few weeks ago, he said.

He added the descendants of the The new original power of Axie Infinity– which is implementing a new war system, knowledge upgrades, and other enhancements – is on the rise, and 90% of Axie landowners have secured their NFT to earn and the AXS. symbol third. The field trip began on June 30, and the tally was over up 91% from this writing.

“Nature heals,” Zirlin said.

The NFT is a blockchain symbol that serves as a guarantee of ownership for something. In the case of Axie Infinity, NFTs feature things like independent Axie monsters taken by users into battle, as well as virtual territories that players can organize and monetize. future.

Axie Infinity has been experiencing serious problems since near the end of 2021, as its AXS and SLP prices have fallen in the mid -range. lack of gaming economy. The game is Ethereum-based, running on the standard Ronin side chain, is implementing a number of changes to maintain its iconic model. However, both token prices are significantly lower.

AXS is priced at about $ 14 per token, according to CoinMarketCap, down 91% from its high price of about $ 165 set in November, and 22% last month alone. The SLP index, meanwhile, is priced at around $ 0.004 — a 99% drop from a July 2021 high of around $ 0.40, and down nearly 20% in the past 30 days.

On top of financial problems, the bridge connects Ronin to Ethereum mainnet has been hacked in March and used for $ 622 million worth of ETH and USDC hold money. Lazarus is North Korea’s most popular government -backed hacking group registered as a felony by the United States Treasurywho consented to Money bag used in uploading.

Sky Mavis reopen the bridge at the end of June and fully recover users whose cryptocurrencies have been stolen, even though ETH’s value has fallen sharply from the hack as a result of the crackdown on the open crypto market. The developer has raised $ 150 million in new money to help recover the firewood, and is working with law enforcement to recover stolen money from the hack.

In a memoir yesterday, Sky Mavis Game Product Lead Philip La has written media reports about the game’s decline and NFT prices revealing “false stories” about the game. He pointed to the constant changes from the past game-to-find Axie Infinity’s power to “play-a-loaʻa ”Origin version.

There’s a reason to play in a soft advertisement that doesn’t offer prizes. Sky Mavis also plans to expand the game into the official mobile app markets, although Origin does not require NFTs to play because of it. new free freelancers. He writes that Sky Mavis is investing heavily and building the Axie ecosystem through scholarships and other activities.

“The game continues with great improvements going on, and we will continue to come out with more games based on all the lessons we’ve had over time,” La wrote. “The story that we live in an independent state all the time is a lie.”

The growth of Axie Infinity’s short NFT sales has become a continuing trend – and whether the game can recapture the big buzz of 2021 – remains to be seen. But Sky Mavis is building with a distraction.

Do you want to become a crypto expert? Get the benefits of Decrypt right in your inbox.

Get the biggest crypto news stories + every week and more!

Leave a Comment