Axie Infinity Land Plot NFT Sells for Record-Breaking $2.4 Million

The crypto community is witnessing what seems to be the largest sum ever paid for a single plot of digital land – 550 ETH, or US$2.48 million, was the price for which an Axie Infinity land plot was sold this week.

$2.5 Million for a Piece of Digital Land

The plot is a “Genesis” piece of virtual land, which is a rare type in Axie Infinity, located in the centre of the game’s map and with only 220 in existence.

ASX Hotter than Ever

Axie Infinity’s utility token ASX has been one of the top performers in the market. The game has been leading the P2E (Play-to-Earn) space by becoming the highest revenue-generating game in the market.

Last month, the game launched a staking rewards program that catapulted its token to new all-time highs of US$135. The game airdropped $60 million to early users, and in-game sales saw 50 percent gains in the following days.

Tokens such as MANA, AXS and SAND have soared in the past couple of weeks following the advent of the metaverse – virtual reality worlds where users can interact socially and economically using in-game digital assets. In a report released on November 24, Grayscale analysts valued the wider metaverse at US$1 trillion, with Facebook’s recent rebranding to Meta seen as “a catalyst”.