Axie Infinity, a fast-rising game token based on Ethereum, has surpassed $1 billion in sales, according to data from CryptoSlam.
The NFT game based on the Pokémon franchise has sold 1,083,382,005 tokens through 2.52 million transactions as of the time of writing this report. A daily active user count is more than a million with 330,624 buyers and 956,431 owners.
With this milestone, the blockchain game, launched in 2018, has proven to be a global hit this summer. Axie Infinity's sales were almost a fifth of its total during the past week, and three quarters during the month.
Following Axie-Infinity in sales is NBA Top Shot, then Ethereum-based CryptoPunks, with $677 million in sales, and Flow-based NBA Top Shot, which has sold $ 663 million.
What is Axie Infinity?
Axies can be structured in numerous ways, and over 500 different body parts are available, including aquatic, avian, bug, plant, and reptilian parts.
There are four levels of rarity for parts of each type class: common, rare, ultra-rare, and legendary. Axies have a highly variable combination of body parts, so they're often rare and unique.
The Axies are non-fungible tokens (NFTs) with different attributes and strengths that can be used to enter 3v3 battles, where the winning team will earn more experience points to level up their stats and evolve their body parts.
Breeding these Axies together can create new and unique offspring that can be used and/or sold in the Axie’s marketplace
There is also a unique governance token for Axie Infinity, known as Axie Infinity Shards (AXS). Vietnamese development team Sky Mavis launched AXS in November 2020. The token allows players to vote on the future of the game. Axie Community Treasury holders can vote on important governance decisions using these tokens.
In the past month, the AXS token's price has soared. As of July 20, AXS had a market capitalization of $900 million; it now has a market capitalization of $2.7 billion.
Additionally, cryptocurrency makes Axie Infinity very expensive. In comparison, a single Axie Infinity monster costs a couple of hundred dollars, while a Pokémon game costs less than $60 for 100+ hours of play. It costs about $60 just to buy this green shrub.
As opposed to Pokémon monsters, players are free to sell their Axie Infinity tokens on secondary markets - and that is exactly what they are doing given its recent milestone of $ 1 billion. The model, called "Play to Earn," was created by Sky Mavis, the same team that developed AXS.