Axie volume surges 205%, co-founder claims it's 'healing'
Play-to-earn (P2E) metaverse game Axie Infinity appears to be on the mend, with NFT sales up 205% over the past seven days.
Project co-founder Jeff Zirlin echoed the same sentiment via Twitter on July 8, saying that the project is "healing," referring to the strong user adoption of NFT land staking, the restoration of the Ronin bridge, and the game downloads and A significant rise in NFT sales.
According to CryptoSlam, Axie infinity has generated $1.3 million in sales over the past seven days with 23,100 total buyers, a figure that marks a 205% increase.
One of the reasons for the sudden rise appears to be a surge in player demand for Axie Infinity land NFTs following the launch of staking support on July 4th. The staking feature enables landowners to earn weekly rewards in the game’s native token, AXS. Roughly 91% of the 16,794 circulating supply has been staked as of this writing, according to data from Ronin Chain Explorer.
This month, the project also kicked off the second phase of an upgrade to a new game mode called "Origin." As of mid-June, there were 600,000 registered users. The game, which is in early access mode ahead of its final global release, allows users to collect, trade, and battle with playable NFTs of Axie monsters. This update is said to fix many bugs in the game.
The increase in NFT sales could be due to the relaunch of the Ronin Bridge on June 28. The Ronin Bridge is a sidechain built for Axie Infinity that allows users to transfer assets between the game and the Ethereum mainnet. However, it has been offline since a $600 million hack in late March.
Despite this, in the past week, Axie Infinity's sales have surged by 205%, ranking only 18th on the NFT game sales list during the same period, which is far from its top performance at the end of 2021.
The Axie Infinity ecosystem has been on a long-term downtrend since peak interest in November. During the month, the project generated a whopping $753.9 million worth of NFT sales, while its native AXS token hit an all-time high (ATH) of $164.90. As of June, total NFT sales for the month were just $3.1 million, and AXS is down 91.4% from its ATH at $14.18 as of this writing.
Axie Infinity NFT Sales: CryptoSlam
With player retention and game longevity seen as key issues for the project, the Axie Infinity team has recently been exploring ways to expand the ecosystem.
In a blog post on July 9, the Axie Infinity team stated that their vision is to create a "complete gaming universe" that includes icons similar to Star Wars, Final Fantasy, or Lord of the Rings. A comprehensive tale of sex series.
As part of the push, the team will be partnering with gaming-focused Decentralized Autonomous Organization (DAO) Strider to deliver content focused on building the story behind the game's virtual world, "Lunacia."
The team also said they recently launched three new programs aimed at boosting the community called "Lunacian Codes, the Creator Program and a Scholarship Collaboration." The first two programs focus on rewarding users through referrals and content creation, while the third offers 200 scholarships as part of the Creator Academy.