Cryptocurrency News

The Most Expensive Piece of Axie Infinity’s Digital Land to Date Sold for $2.5 Million

By November 26, 2021 No Comments

Axie Infinity (AXS), an NFT-powered blockchain gaming metaverse, announced the sale of its most expensive piece of digital land to date. A single piece of Axie Genesis Plot sold for an eyewatering amount of 550 ETH, worth $2.5 million at the time of acquisition.

Key takeaways:

  • Axie Infinity announced the news on Twitter on Thursday, stating, “Yesterday, an Axie Genesis Plot sold for 550 ETH! This was the largest sale ever for a single plot of digital land.”
  • Axie is an interactive digital ecosystem combining a non-fungible token (NFT) marketplace, an RPG-like gaming experience, and a play-to-earn (P2E) monetization model. 
  • Lunacia, Axie’s digital homeworld consists of 90,601 plots divided into seven different types of terrain, including Savannah, Forest, and Arctic, to list just a few.
  • Each piece of digital land can be bought as a single NFT, and resold at the owner’s volition.
  • With 380,000 weekly active users and a $320 million transaction volume, according to DappRadar, Axie Infinity is arguably the most popular blockchain game in the crypto sector.
  • The popularity of the gaming platform is reflected in the price of its native digital token AXS, which is of the best performing crypto assets of 2021. At the time of this writing, AXS is up a whopping 21,800% since the start of the year despite currently trading more than 20% removed from its all-time high of $163.
  • With a market valuation of $7.59 billion, Axie Infinity is the second biggest crypto gaming project by market cap, trailing only Decentraland (MANA).
  • In general, gaming is one of the most active areas of crypto. Click here to learn more about the key reasons driving the recent rally of gaming tokens.
A sample image of Lunacia, the Axie homeland where custom-made AXIE avatars can gather resources, engage in combat, and much more. Image source: Axie Infinity