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Axie Infinity Becomes First NFT Project to Hit $1 Billion in Trading Volume

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Axie Infinity Becomes First NFT Project to Hit $1 Billion in Trading Volume

The developer of Axie Infinity has recently announced that the blockchain-based game’s all-time NFT trading volume has exceeded $1 billion.

Developer Sky Mavis revealed on Friday that there are over 1 million daily active players in Axie Infinity. He added that some players downloaded the game without owning Axies — which are in-game creatures that can be bred, used in battles and sold as NFTs (non-fungible tokens).

Moreover, AXS (Axie Infinity Shards) increased by over 60% in the last two weeks despite falling by 18% from its all-time high of $52 per unit. As of writing, the market cap of AXS is standing at approximately $2.4 billion and is priced at $43.

As for SLP (Smooth Love Potion), it has decreased by roughly 21% in the last seven days and is currently valued at $0.17 per unit. Its market cap is around $152 million, which is much smaller than AXS.

The server supporting the wildly popular Axie Infinity has experienced several shutdowns in the recent weeks. This prevailing issue — as well as other problems — has garnered many complaints from the players. After receiving a slew of complaints, the developer publicly acknowledged the issues on Twitter and announced that they would implement a fix for the game.

The post Axie Infinity Becomes First NFT Project to Hit $1 Billion in Trading Volume appeared first on SuperCryptoNews.

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All content in this article is for informational purposes only and in no way serves as investment advice. Investing in cryptocurrencies, commodities and stocks is very risky and can lead to capital losses.
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