Encouraging Numbers Prompt Co-Founder’s Optimism

The co-founder of CryptoKitties, a popular blockchain game for trading virtual cats has said he is optimistic about the platform’s future. Arturas Biruta spoke to CoinDesk ahead of an appearance at TechCrunch Disrupt NY 2018 which will feature some new announcements from his company.

The once-popular NFT game Axie Infinity is once again gaining popularity. Interest seems to be increasing inexplicably close to the release of its new NFT land staking functionality and ongoing improvements to the Origin war game mode. The non-fungible token (NFT) sales for the Play-to-earn (P2E) metaverse game increased by 205 percent over the previous week.

The project’s co-founder, Jeff Zirlin, stated on Twitter that Axie was “healing” as a result of NFT land staking, the Ronin bridge reopening, and a noticeable increase in downloads and NFT purchases in response to this new (old) level of interest.

According to Cryptoslam, a Mark Cuban-backed analytics company, Axie Infinity sold $1.3 million worth of goods to more over 23,000 customers in the previous week, a 205 percent increase. 

The sudden spike in interest in Axie Infinity Land NFTs after the implementation of the staking support on July 4th is one of the factors contributing to this reversal. This makes it possible for owners of Land to win weekly rewards in the game’s Axie Infinity (AXS) token. The 16,794 circulating supply has been staked to a greater than 90% extent as of July 10th, according to the Ronin Chain explorer.

The second stage of the “Origin” game’s enhancements is another factor fueling curiosity. The game, which is now in early access mode before going live globally, allows players to gather, trade, and engage in combat with other players using gamified Axie monster NFTs. The game has 600,000 sign-ups as of mid-June, and these improvements say they solved a number of flaws from the prior version.

On June 28th, Ronin Bridge was reintroduced, which also helped to boost NFT sales. Ronin, an Axie Infinity sidechain, allowing players to move assets between the game and the Ethereum mainnet. Since the well-publicized $600 million hack, the bridge has been out of action.

The firm will provide material that focuses on developing Lunacia’s backstory. To implement these modifications, it will collaborate with the decentralized autonomous organization (DAO) Strider. The Axie Infinity team also declared the start of three new initiatives to promote neighborhood development. Users will get incentives for recommendations and content creation via “Lunacian Codes” and “the Creator Program.” The Axie Infinity creative academy receives money from “A fellowship partnership” for 200 fellowships.

Even while it may seem amazing, the recent growth surge has only propelled Axie Infinity to the 18th most selling NFT project during that time period, a tiny fraction of the sales it experienced at the end of the previous year. Axie Infinity reported $753.9 million in revenue in November 2021, and the AXS token reached a record high of $164.90.

Axie’s NFT sales for June were barely $3.1 million as of last month, and AXS was down 91 percent from its all-time high of $14.18. These statistics confirm what many industry insiders and analysts feared would be a challenging summer for Axie Infinity. However, the old NFT gaming powerhouse may still have some fight in it given the most recent improvements, modifications, and products that have been released or are now in use.

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