Play-to-earn giant Axie Infinity achieved yet another major milestone after the game amassed $4 billion in all-time non-fungible token (NFT) sales. It makes the game, if not the best, but one of today’s best-selling NFT games since it was launched way back in 2018. The game added yet another accolade to their list, apart from being #1 on our Top 5 NFT Games list.
As per the latest NFT metrics post, it showed that Axie Infinity has now listed $4.1 billion in volume. The game sits third behind OpenSea ($21.85 billion) and LooksRare ($16.85 billion) in terms of overall sales. In total, Axie also recorded 1,905,222 lifetime traders, becoming the first NFT game in history to do so.
Despite Axie’s continuing dominance in the play-to-earn model of games, their sales saw a lower trade volume in the last week – with a 40.58% mark during the last seven days. A total mark of $19,815,670 was raised, while 91,940 buyers were involved in 267,906 transactions recorded in the game’s official marketplace.
Axie Infinity To The Moon or Back?
This downward trend in sales could be caused by the value drop of the Smooth Love Potion (SLP) which is the farmable token in Axie. Its value continues to drop, listing a massive 70% downward curve for more than six months already. This alone somehow becomes the reason why investors pull out their NFTs in the game, may it be their Axies, SLPs, or the breeding token Axie Shards (AXS), as well as why scholars also choose to give up their Axie scholarships.
I don’t think this is a bad omen for the title. We already know big things are in store for the Axies in 2022.
Version 3 On the Way
With Sky Mavis announcing their plans for the year, especially with the release of the game’s Version 3 known as Origin, burning mechanisms to mint the current supply of SLP in the market is expected to be implemented in the coming months. This could make the SLP value higher, with higher demand projected to come along the way as this happens.
Also, the game’s Adventure and Daily Quest SLP rewards are now absent in Version 2. The SLP rewards in the Arena mode were also lessened. But nothing much of an effect already commenced in the market. Yet this is already something that can help reduce the massive production of SLP as players continue to enter and play the game.