Axie co-founder states project is “healing” as volumes increase by 205%

Following the introduction of its new NFT land staking function and continuous improvements to the Origin fight game style, interest in Axie Infinity appears to be increasing once more.
Axie co-founder states project is "healing" as volumes increase by 205%
Axie co-founder states project is “healing” as volumes increase by 205%

Axie Infinity, a play-to-earn (P2E) Metaverse game, seems to be recovering as its NFT sales volume had increased by 205 percent during the last seven days.

On July 8, co-founder Jeff Zirlin of the project tweeted that the project was “healing,” citing the significant uptake of NFT land staking, the Ronin bridge’s restoration, and a noticeable increase in game downloads and NFT sales.

Axie infinite earned $1.3 million in sales over the last seven days from 23,100 consumers, according to data from CryptoSlam, representing a 205 percent growth for the week.

The unexpected rise in demand for Axie Infinity land NFTs following the July 4 launch of staking support looks to be one of the main factors. Landowners can receive weekly rewards in the game’s native AXS currency thanks to the staking feature. According to information from the Ronin Chain explorer, around 91 percent of the 16,794 circulating supply has been staked as of this writing.

The project also unveiled the second iteration of its “Origin” game mode this month, which had racked up 600,000 sign-ups as of mid-June. The early access version of the game, which will eventually be released worldwide, allows players to gather, trade, and engage in combat with other players using their playable Axie monster NFTs. According to reports, the improvements fixed a number of game issues.

The Ronin bridge’s reintroduction on June 28 is probably to blame for the rising volume of NFT sales. Users can move assets between Axie Infinity and the Ethereum mainnet through the bridge, a sidechain created specifically for the game. However, because to the infamous $600 million hack, it had been offline since late March.

Despite this, the 205 percent increase in volume over the previous week only ranks Axie Infinity as the 18th most popular NFT project during that time period, a far cry from its apex in late 2021.

Since interest in the Axie Infinity eco-system peaked in November, it has been on a long downward trend. The project generated a staggering $753.9 million in NFT sales during that month, and its native AXS coin reached an ATH of $164.90. Its NFT sales for the month of June were only $3.1 million, and as of this writing, AXS is trading at $14.18, down 91.4 percent from its all-time high.

Sales of Axie Infinity NFT: CryptoSlam

The Axie Infinity team has recently been looking for ways to broaden the ecosystem because it is believed that player retention and gaming longevity are critical challenges for the project.

The Axie Infinity team stated in a blog post on July 9 that their goal is to develop a “entire gaming universe” with extensive backstory that is comparable to well-known series like Star Wars, Final Fantasy, or the Lord of the Rings.

In support of the campaign, the development team will release content in collaboration with the decentralized autonomous organization (DAO) Strider, a gaming-focused DAO, that will be geared toward developing the narrative of the game’s fictional universe, “Lunacia.”

The team added that it just introduced three new initiatives dubbed “Lunacian Codes, the Creator Program, and a fellowship partnership” with the goal of promoting community growth. The last offers financing for 200 fellowships as part of a creator academy, while the first two concentrate on rewarding users through content creation and referrals.