Blockchain game built on the “play to earn” mechanics, Axie Infinity has set a new record for non-fungible token sales of $4 billion. It is currently the third largest NFT project after OpenSea and LooksRare.
Offers of the NFT trading platform
Axie Infinity was actually launched in 2018, but it didn’t get mainstream acceptance until 2021. The game currently has 2 million transacted users, with an average price of $198 digital collectibles sold.
Last November, an anonymous buyer purchased a piece of digital land in Axie Infinity for 550 ETH, which at the time of purchase was worth $2.3 million.
In addition, the NFT trading platform offers other gaming assets that can be sold as non-fungible tokens.
In February, the blockchain game team announced that they would be making changes to their reward system to balance the ecosystem. In particular, it is planned to reduce the supply of Smooth Love Potion (SLP) tokens by 56%, which will make them more scarce.
Shortly thereafter, the USD value of the asset rose to almost $0.04. The SLP then pulled back 55% over the next few weeks, coinciding with a downtrend in the cryptocurrency market.
At the moment, like most cryptocurrencies, AXS has lost 8.6% of its value at $49.5.