The metaverse may be in its babyhood, but the real-estate wars are emerging amid the crypto market crash. Not a single day goes by without the NFT space slamming an incredible sales revenue. The real estate market of the metaverse industry has once again been thrown into a state of euphoria as a genesis land plot on the most famous play-to-earn NFT game in the crypto world, Axie Infinity, sold for 166 ETH.
A whopping amount for Axie Infinity land plot
On 1st September, Axie infinity’s genesis land plot of the virtual world grabbed a whooping sale of 166 ETH, which is roughly $261135.46, highlighting how much investors of the space are willing to pay out to secure a place before the metaverse trend goes mainstream. A buyer named ‘Pepper’ bought this land, and here is the transaction detail on the Ronin mainnet.
Axie Infinity was launched in 2018 by Sky Mavis, a Vietnam-based company. Axie Infinity has evolved its dominance over time and has now successfully become the most popular play-to-earn NFT game in the crypto space. The play-to-earn business model enables gamers to generate a passive income while playing and enjoying their favorite games. Thus, they also contribute to the expansion and development of the metaverse gaming ecosystem.
Axie Infinity in recovery mode
Previously, Axie Infinity had a record selling amount of $2.5 million for a land plot. Unfortunately, the recent crypto market crash led Axie Infinity to plummet. However, various assets in the game are continuously attracting the attention of potential investors, and Axie land is one of them. Just like in the real world, Axie infinity’s land is a scarce asset. The land asset is known as Lunacia, the mainland.
Axie Infinity’s land mechanism includes individual plots of different rarity, and together they build up the nation of Lunacia, the Axie homeland. The land’s value in Axie Infinity depends on various factors, such as location. Additionally, players can do certain things with their land to push its market value. For example, players can rent out their lands for extra income. Each plot of the Axie homeland is a base of operations for the battle-worn Axolotls who reside there, making it farmable, upgradeable, and completely inhabitable for its tenants.
Axie Infinity has been an umbrella for many players worldwide as some households left their nine-to-five jobs to focus on playing the game full-time and making a primary source of income. However, the downfall of Axie Infinity left players shattered as they could not find a popular and profitable game like Axie Infinity. The recent sale of a genesis plot of $261K in Axie Infinity is expected to help Axie Infinity quickly climb the metaverse gaming sector and regain its hype and revenue potential. Axie Infinity is still a valuable commodity, and the game is currently under construction. In the future, Axie Infinity will provide a whole new dynamic for gamers to fulfill its ultimate goals.