Axie Infinity Metaverse Land Sells for $2.3 Million Worth of ETH

A single plot of digital land in the NFT market, metaverse, was sold for 550 Ethereum. It is the most well-known NFT game in crypto space, AxieInfinity.

Axie Infinity Plot: $2.3M

The land plot in question is one the Genesis plots of Axie Infinity. These plots are extremely rare, as only 220 exist.

Considering that ETH trades at $4,100 per hour, this single piece of land would have a value of $2.3 million.

Axie Infinity was launched in 2018 and has been a dominant play-to-earn NFT-game in the crypto market.

Gamers can make money playing their favorite games while also contributing to the development and growth of the gaming industry.

Axie Infinity boasts more than 2 million active users daily, and daily trading volumes have reached peak levels of $40 million. Some Filipino households have quit their jobs to play the game full-time.

The game features small furry creatures that look similar to Pokemon called Axies. Players can collect, breed and battle their Axies together to earn Axie Infinity’s native ERC-20 utility token Smooth Love Potion, (SLP).

Other in-game assets, such as Axies or parcels of land, are represented by NFTs. These can be sold on the public NFT markets.

Grayscale Values Metaverse: $1 Trillion

The metaverse has seen explosive growth in recent months. This umbrella term refers to a persistent digital environment that allows users to create avatars and interact with one another from anywhere around the world.

While the metaverse is often associated with the gaming industry, it also includes advertising, hardware and digital events.

Grayscale, the largest manager of digital assets in the world, has recently stated that the metaverse space will soon be worth over $1 trillion due to the huge interest in this rapidly expanding industry.