Axie infinity becomes the first game to sell over $1 billion in NFT sales, is it worth investing in?
- Axie Infinity became Ethereum’s first NFT game to reach $1 billion in sales.
- A fifth of those sales took place over the span of last week
- This is the result of 2.4 million transactions with more than a million daily active users.
Axie Infinity AXS/USD is one of the most viral games on Ethereum, where almost a fifth of its sales took place within the last week and three quarters ended up getting concluded within the past month.
It has the title of being the first NFT game to surpass $1 billion in sales and has a player base of over 1 million players. Axie Infinity by itself is a simple game where you battle monsters that have various stats which determine how well they can perform in battles with other players. The fact that cryptocurrencies are included in the game makes it a lot more lucrative and incentivizes players to spend and earn while playing the game.
However, the result of this is the fact that the game is expensive, as a single Axie Infinity monster could cost hundreds of dollars.
The main appeal of the game is that players can sell their Axie Infinity tokens on secondary markets, they’re not stuck with them, and they can earn this way. AXS is used for governance and acts as voting shares.
How does this new title to the game impact its price, and is it worth investing in?
Should you invest in Axie Infinity (AXS)?
On August 9, the value of Axie Infinity (AXS) was $43.37.
It experienced its all-time high on June 27 with a value of $52.17. This means that its value in August decreased by 17%.
To get a heightened perspective about its recent shifts in value, we will be analyzing its value in July. Its lowest point was on July 20 with a value of $14.27. Then, on July 27 its value sky-rocketed to $52.18. This led to a 265% increase.
According to IntoTheBlock, AXS experienced $21.23 million in transactions greater than $100,000 within the span of the last 7 days.
With all of this in mind, we can expect the value of Axie Infinity (AXS) to increase to $56.38 by the end of August given the fact that it is one of the largest and most popular Ethereum games.
As cryptocurrencies increase in popularity and gamers seek something to play, the chances are high that they will end up picking the game with the largest community and variety when it comes to non-fungible tokens (NFTs) so they can be a part of it, and this is what will sky-rocket the value of AXS even further in the future.
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Published By : Invezz