In a tweet posted by Axie Infinity on Thursday night, lucrative ground within the Monster Battle Fantasy non-fungible token game, or NFT, sold for 550 ETH ($ 2.3 million). Axes are creatures that users command to duel with other players, fight enemies, and complete daily quests. These are also NFTs that can be raised (struck), bought and sold freely.
✨A Genesis land just sold for 550 ETH!
That’s over 2.3 M USD!
Our player-owned digital nation continues to shock the world pic.twitter.com/SVvAtFNYUF
– Axie Infinity (@AxieInfinity) November 24, 2021
The game takes place in the world of Lunacia, which the Axies inhabit. This is a 301×301 square grid where each section represents a piece of land called Terra, which players can also buy, sell or rent to other players at will. The land that was sold yesterday is classified as Genesis, which is the rarest form of virtual real estate available in the Axie Infinity ecosystem.
Monsters, known as Chimera, appear in the game and terrorize Lunaria. By defeating Chimera, players earn Smooth Love Potions (SLP), which can then be sold in cryptocurrency exchanges for cash. Defeated Chimera also drop other types of resources that can be used to upgrade their Axies and lands, increasing the earning potential for SLPs. Genesis Land is strategically located in the center of Lunacia, where rare Chimeras raid bosses spawn and drop special items. Additionally, only 220 of the 90,601 land locations have the Genesis rating.
Critics of the game say there is nothing tangible about virtual real estate and wonder why they would have any value. But for some, playing Axie Infinity is a full-time job that deserves some initial investment, especially in developing countries, where the daily winning SLPs in the game can often exceed that of the countries’ minimum wage.