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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