The metaverse and NFT market have for another time obtained euphoria with just the sale of one plot in the digital land present on the prominent NFT game in the space of cryptocurrency named Axie Infinity in return for 550 ETH.

$2.3 million for the plot of Axie Infinity

The respective digital land plot is counted among Axie Infinity’s Genesis plots, which are categorized being tremendously rare because their number is only 220 presently. As per the current prices of ETH, one land piece would cost more than $2.3M, because the ETH token is moving near $4,100.

After being introduced in 2018, a significant position has been secured by Axie Infinity in the crypto industry as it has turned out to be the well-known play-to-earn NFT-based game. The play-to-earn model of business permits the players to make income as they play their favorite games as well as participate in the development and the growth of the ecosystem of gaming.

Presently, Axie Infinity incorporates more than 2 million every day, and the per-day trading volumes thereof have up till now touched $40 million. The respective game is famous in the Philippines to an extent that a few households even left their regular jobs to concentrate on full-time playing.

With small furry beings that resemble Pokemon, known as Axies, the players of the game are permitted to gather, breed, as well as make their Axies fight with the other players’ Axies to receive a local ERC-20 based utility token of Axie Infinity called SLP (Smooth Love Potion). Remaining in-game assets like land parcels, as well as Axies, are provided in the form of NFTs which can be traded in the open marketplaces of NFTs.

Grayscale to place metaverse’s value at $1T

During the previous months, the metaverse (known as a general term for the persistent digital atmosphere where the consumers can freely create avatars thereof and have interaction with one another all around the world) has seen enormous progress.

While the industry of gaming is frequently contemplated whenever there is a mention of the metaverse, the field has gone far beyond incorporating digital events, hardware, advertising, and so on. After the huge upsurge in the interest regarding this quickly escalating industry, the biggest manager of digital assets across the globe, Grayscale, recently mentioned that the field of metaverse will increase above $1 trillion during the coming two years.