Axie Infinity Digital Land Plot Sells for a Record $2.3 Million

Jafrin  |  Nov 26, 2021

A piece of the virtual plot of land in the popular Play-to-Earn game Axie Infinity just got sold for a high of 550 ETH worth $2.3 million at the time of sale. According to the company, this is the “largest sum ever paid for a single plot of digital land.”

Axie Infinity Land NFT Goes for a Record Sale

A Genesis Land Plot at Axie Infinity described as “extremely rare” just got sold at 550 ETH ($2.3 million). This is the most expensive piece of digital real estate to be sold in the metaverse economy so far. Back in February, the company’s previous highest sale was recorded at 888.25 ETH for nine plots of Genesis Land worth $1.5 million at the time of sale, which became the largest non-fungible token sale at the time.

Interestingly, Axie Infinity land plots are not yet integrated into any form of gameplay and are a purely speculative purchase at the moment with no tangible utility.

In a recent AMA with DappRadar, the creators behind the Ethereum-based blockchain game explained that land parcels would have a lot of utility in the game in the future such as allowing gamers to farm resources like SLP and increase their breeding power.

Rise of the Metaverse Economy

Axie Infinity is a popular play-to-earn NFT game that enables users to earn tokens called small love potions (SLP) which can be exchanged for fiat or other cryptocurrencies. The project even has its own cryptocurrency AXS which is one of the most valuable cryptocurrencies among metaverse-linked tokens.

According to data from DappRadar, in the past 24 hours, the Axie Infinity NFT collection has attracted upwards of 84,441 sales, generating more than $23.15 million in trading volume.

The latest record purchase comes amidst the rising popularity of virtual land in the blockchain gaming ecosystem. Just a few days ago, on November 23, Canadian investment firm Tokens.com purchased a piece of digital real estate on the Decentraland metaverse for 2.5 Million in MANA, the native token of Decentraland.

Related News