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NFT Rush Continues: Axie Infinity Property Sold for $ 2.48M



The Genesis property - an extremely rare piece of land in the Metaverse game Axie Infinity - was sold for a record-breaking 550 Ethereum (ETH). The project announced this news in a tweet, indicating that this sale is the largest for a single piece of digital land. With ETH trading between $ 4,249.77 and $ 4,550.52 at the time, the NFT property is believed to have raised nearly $ 2.5 million.

The price of 550 ETH paid shows that there is still a lot of potential for virtual land in this Pokémon-inspired game. There are only 200 Genesis lots - that means this Ethereum transaction could be the first of many.

Despite this positive news, the price of the Axie Infinity token AXS has continued to fall. At the time of this writing, the coin changed hands at $ 127.87 after losing 10.21% in 24 hours. AXS is currently the 26th largest cryptocurrency with a market capitalization of 7,722,905,768 US dollars. There are 60,907,500 tokens in circulation.

NFT game Axie Infinity reaches new milestones

Axie Infinity is considered to be the pioneer of the Metaverse as it enables users to own a wide variety of virtual objects in the digital world. This status has resulted in the game becoming more and more popular. The game's developer, Sky Mavis, also announced a number of upgrades. This includes, for example, the staking from AXS, with which users can keep their ronin on the ronin sidechain and earn passively from it.

One week after the staking feature started, the number of interactions with the Axie Infinity wallet increased by 92%. According to data from DappRadar, the game has processed an NFT transaction valued at $ 3.53 billion since its launch.

While that growth is remarkable, Axie Infinity will continue to grow because of its association with the Metaverse. The market opportunity to bring the Metaverse to life could be worth more than $ 1 trillion, according to a recent Grayscale report, Web 3.0 Virtual Cloud Economies .

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