GameFi

Axie Infinity Now Reaches $4 Billion In Sales

Axie Infinity Now Reaches $4 Billion In Sales 3

Axie Infinity Has Reached A New Milestone

The total sales volume of Axie Infinity, which runs on the Ethereum sidechain Ronin, has nearly reached $4 billion in sales.

Despite the cooling in the broader crypto market, the NFT market has had a strong start to 2022, with January recording one of the strongest monthly sale records to date.

Axie Infinity is a game in which players battle “Axies” — small Pokémon-like creatures that are also NFTs — to earn SLP, which can be used to breed Axies, trade in the spot market, or stake for profit. Players need 3 Axies to play the game, but they can buy, sell, and “breed” more when they are in the game and this demand is what keeps the game selling at record sales.

Axie Infinity Now Reaches $4 Billion In Sales 4

In May of last year, the game exploded in popularity, particularly in the Philippines, as 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 broader market downturn, Axie Infinity has seen consistent player growth, with nearly 3 million players worldwide in January.

Burning mechanisms to mint the current supply of SLP in the market are expected to be implemented in the coming months, with Axie Infinity’s team announcing their plans for the year, especially with the release of the game’s Version 3 known as Origin. This could raise the SLP value, with increased demand expected as a result.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

Join CoinCu Telegram to keep track of news: https://t.me/coincunews

Follow CoinCu Youtube Channel | Follow CoinCu Facebook page

Hazel

CoinCu News

Victor

Recent Posts

Bitdeer Convertible Notes Worth $360 Million Offered for Expansion Efforts

The Bitdeer convertible notes offer a 42.5% conversion premium, allowing conversion into cash with the…

20 minutes ago

Sui Foundation Enters into Strategic Partnership with Franklin Templeton Digital Assets

Grand Cayman, Cayman Islands, 22nd November 2024, Chainwire

44 minutes ago

Best Cryptos to Invest in December 2024: Qubetics Surges Past $2.6M as Solana Records Big Whale Pump and Polkadot Aims for $6

Best Cryptos to Invest in December 2024: Qubetics surges past $2.6M, Solana’s whale pump ignites…

2 hours ago

Bitcoin Trader Turned $100M in His 20s—Now Reveals 5 Altcoins to Build a $50M Portfolio, With Memecoins Leading the Way!

As Bitcoin reaches unprecedented heights and the market surges, he's highlighting five altcoins poised for…

4 hours ago

Which Crypto Will Explode in the 2024-2025 Bull Run?

With the crypto market reaching new peaks, many are eager to discover digital currencies poised…

4 hours ago

Dogecoin and Shiba Inu Approach $1, but All Eyes Are on XYZVerse’s Push to $10!

XYZVerse, blending sports passion with meme energy, is set to make a significant impact, uniting…

4 hours ago

This website uses cookies.