Axie Infinity is on a roll! The play-to-earn NFT game records another milestone now that the Mystic Axie Floor Price has surpassed the floor price of CryptoPunks. Players need to pay at least 20.98 ETH or $47,575 to buy a Mystic Axie. Meanwhile, buyers can buy the cheapest CryptoPunk for 17.9 ETH or $40,520.
Mystic Axie Floor Price Surpasses CryptoPunks’
CryptoPunks is an OG NFT Collectible so it is considered as the golden standard for NFT Projects. Thus, this development is a sign of Axie Infinity’s continuous growth.
It is worth noting that there are only 1,376 Mystic Axie NFTs while there are 10,000 CryptoPunks. Thus, by sheer number, the Mystic Axie NFTs are more scarce. Moreover, the number of Axies keeps increasing because players can breed them while the supply of CryptoPunks are finite. In effect, Mystic Axies are rarer within the entire Axie population as the demand for them soars.
Despite pulling ahead of CryptoPunks in terms of floor price, Axie Infinity is far behind in terms of high-ticket sales. Last month, the Covid Alien Punk was auctioned by Sotheby’s for $11.8 Million. Furthermore, two other alien punks sold for $7.5 Million through two onchain transactions. On the other hand, there hasn’t been an Axie sale exceeding the $1 million price range.
Why can Mystic Axie NFTs Command Higher Price Tag
Apart from the play-to-earn model, breeding Axies is drivings commercial activities in the game. Naturally, as the players breed new Axies, the 4,088 Origin Axies become even more scarce. Out of these Origin Axies, only 30% has at least one Mystic part. The more body parts have the Mystic rarity, the more rare and expensive an Axie becomes.
Overall, there will only ever be 19 Axies with three Mystic body parts and only 3 with four Mystic body parts. To demonstrate just how rare these creatures are in the game’s universe, one of the 19 triple Mystic Axies changed hands for 369 WETH or more than $819,000.
Axie Infinity doing it right
Axie Infinity never looked back after migrating its entire ecosystem to the Ronin Sidechain. Just 30 days after implementation, the game recorded a 500% growth in transactions. Ronin is an Ethereum sidechain designed specifically for the Axie Infinity community. Therefore, users don’t need to pay any gas fees when using the sidechain.
Currently, Axie Infinity is dominating the DappRadar charts with over 350,000 daily active users. What’s good is that the play-to-earn model is driving the growth organically. There’s a tremendous demand for Axie NFTs as well as the SLP token.
Aside from the Ronin Sidechaim implementation, another power move of Axie Infinity is the Axie Scholarships. Basically, investors offer scholarships to novice players so they can get started in the game.
Jeffrey Zirlin, co-founder and growth lead of Sky Mavis, is confident that Axie Infinity is just getting started. He said, “Axie generated more revenue than Metamask, Pancakeswap, Synthetix, MakerDAO, and Curve combined. Axie is still a pretty basic product and has many upgrades coming over the next 9 months.”