Axie Infinity, the NFT-based game from Mavis Sky, led all NFT collectibles last week, totaling nearly $24 million in sales, according to CryptoSlam.io.
The bullish week put Axie Infinity head-and-shoulders above Dapper Labs' NBA Top Shot, which has led the nascent market for most of 2021. NBA Top Shot managed more than $13 million in sales, itself up 84% over the week before.
Axie Infinity is a collectible NFT game where players battle, raise and trade digital creatures called Axies. It has existed since 2018, but experienced a huge spike in sales at the start of June.
The sales spike comes after its parent company, Mavis Sky, raised $8.75 million in funding for Axie Infinity, led by billionaire Mark Cuban and BlockTower Capital. Other investors include Konvoy Ventures, Libertus, Collab + Currency partners Derek Schloss and Stephen McKeon.
"I think it's an amazing platform," Cuban said in a statement following the fundraise. “It’s fun and engaging. It’s a game you want to play for hours on end."
Axie Infinity is seeing spikes in both volume and price. The game platform has already posted more than $42 million in sales in June, more than the rest of 2021 combined, according to CryptoSlam.io. With more than 22,000 transactions on its closed marketplace, the platform has already surpassed its May sales.
Axie Infinity's developers attribute the spike to the migration of its platform from the Ethereum Mainnet to its own sidechain, Ronin. The change allows for near gas-less transactions — a cost problem that plagues many ether based projects.
Sky Mavis was founded by Yale University graduate Jeffery Zirlin and former Norwegian security officer Aleksander Larssen.
Stephen Stirling is a senior reporter for the Street Crypto and Crypto Investor, covering the intersection of fiat and crypto. He makes and trades NFTS, and is currently an active user of NBA Top Shot, MLB Topps and Zed.Run.