According to a recent report by nonFungible, non-fungible, or NFT players sold nearly $3.5 billion worth of NFTs to Axie Infinity in 2021. This represents nearly two-thirds of all NFTs that were transactions in blockchain games. In 2021. The NBA Top Shot sports events market came in second and third with $827 million and community gaming platform Loot with $242 million, respectively.
Created by Vietnamese video game developer Sky Mavis in 2018, it features creatures called “Axies” that players collect and use to complete daily missions, duel other players, and more. Each Axie is an NFT embedded in the Ethereum (ETH) blockchain. ). Completing missions with Axies rewards players with Smooth Love Potions (SLPs), which can be traded for money on cryptocurrency exchanges, thus generating a revenue stream for players. Overall, Axie Infinity accounted for 19% of the total NFT transaction volume last year, which amounted to $17 billion.
Last November, Axie Infinity saw a massive increase in its popularity, especially among players in developing countries, as you can earn more money by playing Axie Infinity instead of working on the minimum wage. However, gamers have complained to developers that their revenue has fallen due to cheaper SLP by 67.5% over the past year.
Although the price drop can be partially explained by the increase in token inflation due to more and more players joining and playing the game. At press time, Axie has approximately 2.7 million players per month, up from 1 million players in the North last March. But since July 2021 until now, the sales volume of Self-Learning Professionals has increased from 541.7 million to 5.13 billion.
In total, blockchain gaming enthusiasts bought and sold $5.18 billion worth of NFTs last year, with a total turnover of 2,0986.532. In addition, there were 112 blockchain games in total and 1.88 million active wallets. According to NonFungible analysis, these stats accounted for 2.18% of the entire global gaming market in 2021.