The Play-to-Earn (P2E) metaverse game Axie Infinity appears to be on the mend, with a 205% increase in sales volume of NFT in the past seven days.
Project co-founder Jeff Zirlin said on Twitter that the project is “recovering“referring to the strong adoption of land staking, Ronin bridge back up, a noticeable increase in game downloads as well as NFT sales:
“22,000 Axies sold in the last 24 hours. It was 7,000 a few weeks ago. Origin is growing rapidly with the new Alpha Season. 4,600 downloads yesterday. Bridge is growing. Lands (90% staking) are generating AXS.
Nature is healing. “
22,000 Axies sold in the last 24 hours. Was at 7,000 a few weeks ago.
Origin growing quickly with the new Alpha Season. 4,600 downloads yesterday.
Bridge is up. Land (90% staked) is emitting AXS.
Nature is healing. pic.twitter.com/AdNzi8x4cb
— The Jiho.eth (@Jihoz_Axie) July 7, 2022
According to data from CryptoSlam, Axie infinity generated $ 1.3 million in sales in the past seven days from a total of 23,100 buyers, thus marking a 205% increase during the week.
One of the factors that contributed to the sudden increase in volumes appears to be the growing interest in Axie Infinity’s lands, following the launch of staking on July 4th. The staking feature allows landowners to earn weekly rewards in the form of AXS, native token of the game. According to data from Ronin Chain currently about 91% of the 16,794 lands in circulation are in staking.
This month the project also launched the second phase of updates for its new game mode, called “Origin”, which in mid-June had 600,000 registrations. The game is in early access mode with a view to a future global launch, allowing users to collect, trade and battle with their Axies.
The increase in NFT sales is likely due to the relaunch of the Ronin bridge on June 28. The bridge is a sidechain built for Axie Infinity, which allows users to transfer assets between the game and the Ethereum mainnet. Ronin went offline in late March following a hacker attack that led to the theft of $ 600 million.
Nonetheless, the 205% surge in volume over the past week places Axie Infinity only in 18th place among the best-selling NFT projects in this timeframe, a far cry from its time at the top of the charts at the end of 2021. .
The Axie Infinity ecosystem has suffered from a long period of decline after the peak in interest reached in November. In that month, the project generated a whopping $ 753.9 million in NFT sales, while its native AXS token hit an all-time high of $ 164.90. In June, NFT sales totaled just $ 3.1 million, while AXS was down 91.4% from its ATH: it is currently trading for $ 14.18.
As player retention and game longevity are seen as crucial issues for the project, the Axie Infinity team is exploring ways to expand the ecosystem.
In a blog post published on July 9, the Axie Infinity team he pointed out that his vision is to create a “entire game universe“with a complete story similar to that of iconic series such as Star Wars, Final Fantasy or The Lord of the Rings.
As part of this initiative, the team will publish content focused on the story of the fictional world “Lunacia”, in collaboration with Strider, a decentralized autonomous organization (DAO) focused on Axie Infinity.
The team also said they have recently launched three new programs aimed at promoting community growth, called Lunacian Codes, Creator Program and Fellowship Collaboration. The first two focus on compensating them through reporting and content creation, while the last involves funding 200 scholarships as part of a creator academy.
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