Axie Infinity Accounted for the Biggest NFT Transactions in 2021

A recent report curated by NonFungible shows that players of Axie Infinity transacted almost $3.5 billion worth of NFTs in 2021. This accounts for nearly two-thirds of all NFTs transacted in the blockchain gaming sector. NBA Top Shot, a sports highlights marketplace, came in second with $827 million and Loot, a community gaming platform, came in third with $242 million.

Axie Infinity is a leading blockchain gaming platform developed by Sky Mavis, a Vietnamese video game developer, in 2018. Within the game, players can collect little creatures called “Axies,” duel other players, complete quests, and more. Each Axie in the game is an NFT minted on the Ethereum blockchain. By completing tasks using Axies, players are rewarded with Smooth Love Potions (SLPs). SLPs can be sold for cash on cryptocurrency exchanges, thus giving players an income stream. 

In November 2021, Axie Infinity’s popularity rose significantly, particularly among players in developing nations, where someone can potentially make more money by playing the blockchain game than working minimum wage jobs. Today, Axie Infinity has around 2.7 million monthly players. This is a significant increase compared to 1 million players in March 2021.

Overall, Axie Infinity accounted for 19% of the estimated $17 billion NFT transactions in 2021.

SOURCE: Coin Telegraph