Axie Infinity Experiences Massive Recovery

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Play-to-earn (P2E) metaverse game Axie Infinity is experiencing a massive recovery, as the number of NFTs sold has increased by 205 percent in the past week.

Jeff Zirlin, one of the project’s co-founders, wrote on Twitter last Friday when he said that the project was “healing.” He noted that gamers are flocking into their NFT land staking in massive numbers, the Ronin bridge was back up, and there was a noticeable rise in-game downloads and NFT sales.

According to data from CryptoSlam, Axie infinity made $1.3 million in sales from 23,100 buyers over the past week, a 205 percent increase over the previous week.

What is behind the Axie Infinity Massive Recovery

One thing that seems to have caused the sudden rise is the growing demand for Axie Infinity Land NFTs since the start of staking support on July 4. Land owners can earn weekly rewards in the game’s native Axie Infinity (AXS) token by staking their land. At the time of this writing, Axie Infinity users have staked 16,794 coins, according to data from Ronin Explorer.

More Innovations added to the Rise in Sales.

The project also started the second phase of improvements to its new game mode, Origin, this month. As of the middle of June, 600,000 people had signed up for Origin. Users can collect, trade, and fight with their playable Axie monster NFTs while the game is in early access mode before it goes global. 

Gamers commended that the upgrades fixed a lot of bugs in the game.

Another likely reason for the rise in NFT sales is that the Ronin bridge started again on June 28. The bridge is an Axie Infinity sidechain that lets users move assets between the game and the Ethereum mainnet. But it had been down after the famous $600 million hack in late March.

The Challenge with this Rapid Growth

Axie Infinity was the 18th best-selling NFT project over the past week, despite its volume going up by 205 percent. This is a far cry from when it was at the top of the charts in late 2021.

After last year’s November, when its adoption spiked, the Axie Infinity eco-system has been on a long downward trend. In that same month, the project sold a massive $753.9 million worth of NFTs, and its native AXS token reached its all-time high (ATH), which was $164.90. However, as of June, NFT sales only added to $3.1 million, and AXS is down 91.4 percent from its ATH, trading at $14.18 as of this writing.

Since keeping players and making games last longer are the project’s priorities, the Axie Infinity team has been looking into ways to improve the ecosystem.

In a blog post on Saturday, the Axie Infinity team said that their goal is to make a “whole gaming universe” with a lot of backstory, like Star Wars, Final Fantasy, or Lord of the Rings.

As part of the push, the team will work with the gaming-focused DAO, Strider, to release content that builds up the story of the game’s world, Lunacia.

More Innovations building up

The team also reported that it recently started three new programs: “Lunacian Codes, the Creator Program, and a fellowship collaboration.” These programs are meant to help the community grow. The first two focus on giving users rewards for referring other people and creating content, while the third provides money for 200 fellowships as part of a creator academy.

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