Ekaterina Bespyatova

Axie Infinity became the first NFT game with sales exceeding $4 billion

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The Vietnamese Axie Infinity has a new achievement. Total in-game sales exceeded $4 billion. This is more than any other NFT project to date.

This is reported by the Forkast portal with reference to CryptoSlam data.

Important: sales do not mean the revenue of the game itself and the Sky Mavis developer company. This is the total volume of trading operations performed by users to buy and sell NFT.

Key data:

  • in total, at the time of writing the news, Axie Infinity users bought or sold NFT in the game in the amount of $ 4,001 billion. For comparison, the sales volume of the next top NFT project (CryptoPunks) is almost twice as low — $2.063 billion;

  • 2.83 million users have made 14.45 million transactions in Axie Infinity;
  • on average, the size of one transaction was $276.85;
  • The highest-grossing month for Axie Infinity for the entire time of its existence was August 2021. Then the volume of trading operations amounted to $848.18 million. The game managed to partially approach this level only in November, when users sold or bought NFT for $ 753.98 million. After that, monthly sales at Axie Infinity only fell. In December, they amounted to $301.3 million, and in January — $126.4 million;
  • February sales at Axie Infinity so far amount to $70.2 million;
  • Axie Infinity’s internal cryptocurrencies — AXS and SLP – are also getting cheaper. Over the past week, the value of AXS against the dollar decreased by 18.7% to $48.4 per token. As for SLP, it immediately fell by 42.17% to $0.0178 per token (according to Coinbase).

Axie Infinity was released four years ago, but the game began to become really popular in the spring of 2021. Then she became interested in many residents of the Philippines who, due to the pandemic, were left without work and decided to earn online.

By August 2021, total sales at Axie Infinity reached $1 billion. By mid-September, it exceeded $2 billion.

For context: in early February, Chainalysis found out that in 2021, 262 NFT traders sold the same tokens several times (sometimes at least 25 times). Thanks to this, half of them were able to earn a total of $8.8 million. All this could formally be done to launder money or to increase the value of companies.

A little earlier, OpenSea stated that 80% of the free tokens issued on its platform are fraudulent.

This does not mean that Axie Infinity also uses this practice. However, such a development should not be ruled out.

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