'Axie Infinity' Reaches New Heights No Play-To-Earn Game Has Achieved; But Sales Down Almost 50%

'Axie Infinity,' the play-to-earn blockchain-based video game developed by Vietnamese studio Sky Mavis, has breached the $4 billion mark in all-time non-fungible token (NFT) sales but this did not help AXS as its sales plummeted to around 40% the last seven days after the latest milestone.

Data from Cryptoslam, an NFT industry data aggregator backed by billionaire Mark Cuban, showed that the total value of NFTs sold on "Axie Infinity" reached $4.14 billion from almost two million traders.

With the price of sold digital collectibles averaging $198.77, "Axie Infinity" now sits as the third-largest NFT project in terms of all-time sales. The play-to-earn game's sales fall below OpenSea 's $21.85 billion and Looksrare's $16.85 billion.

Despite the all-time high sales milestone of "Axie Infinity," sales are down by around 40% over the past seven days. Data from Ronin blockchain, an analytics platform and an Ethereum side-chain built by Sky Mavis, reported that Axie Infinity has processed sales worth $19,815,670 between Feb. 15 and 21.

Over the last year, Axie (AXS), the game's native digital currency grew in value by 2,544% against the U.S. dollar. But, this trend is not reciprocated at the time of writing. AXS experienced a 12% price correction, which resulted in the in-game currency trading below the $49 mark.

The price of Axie Infinity has dropped by 27.26% over the past seven days while it plummeted by 8.71% in the last 24 hours. At around 11:30 p.m. ET on Feb. 23, the price was reduced by 6.15%.

The current price of one AXS is $45.81 per AXS. The latest statistics provided by Coinbase showed that Axie Infinity is 72.30% below the all-time high on Nov. 6, 2021, which is $165.37.

"Axie Infinity" is a blockchain-based game where players battle small Pokemon-like creatures called Axies to earn SLP, the game's token. Players use SLP to breed Axies, stake for profits, or trade in the spot market.

To start playing the game, players need three Axies, but as they move through the game, they cannot buy, sell or breed more. The demand drives the game's record sales. The game was released in March 2018 but exploded in popularity in May 2021.

Interestingly, Sky Mavis has announced last year that it will soon launch free starter Axies to give users a free taste of the game before they start spending cash. This play-to-free feature will debut as part of the game's Origin update set to roll out by the end of Q1 2022.

"Axie Infinity" is a strategy video game available on various gaming platforms. It is playable on PC, Macintosh OS, iOS, and Android devices.