Axie Infinity NFT Token Surge Leads Metaverse

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Written By Jason Rowlett

Despite the ongoing crypto bear market, the metaverse-focused token from Axie Infinity, AXS, has posted a gain of 26.4% in the last 24 hours. The price action puts AXS in the lead of all metaverse-related tokens, according to data from NFT market tracker CryptoSlam.

Source: coinmarketcap.com

The play-to-earn gaming platform can attribute the rally to a rising sales volume of metaverse-related and NFT-related tokens. CryptoSlam also reports general NFT sales rising 20.75%, or $16.5 million, in the last 24 hours. On Monday Ethereum saw NFT prices rise 31.36%  which buoyed the AXS bull run.

While the AXS gains are part of a broader crypto market rise on Monday, AXS has risen more than any other token in the top 100 cryptocurrencies on Monday, according to CoinMarketCap. 

Other Axie Infinity-associated tokens that have experienced price rises include Flow (FLOW), Apecoin (APE), and Sandbox (SAND) in the same 24-hour period. Axie Infinity has a market cap of $970 million and is trading around $8.60 at press time.

Jason Rowlett

Jason is a Web3 writer and podcaster. He hosts the BCCN3 Talk podcast and YouTube channel and has interviewed several industry leaders at global Web3 events. An active crypto investor, Jason is a HODLer and advocate for the DeFi industry. He lives in Austin, Texas, where he rows competitively.

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