The overall sales volume of Axie Infinity, which runs on the Ethereum sidechain Ronin, is nearly double that of the second-place NFT collection, CryptoPunks.
Despite the softening in the broader crypto market, the NFT market has had a solid start to 2022, with January achieving one of the greatest monthly sale records to date.
Axie Infinity is a game in which players combat "Axies" – little Pokémon-like animals that are also NFTs — to gain SLP, which can be used to hatch Axies, trade in the spot market, or stake for profit.
Players need three Axies to begin the game, but they may buy, trade, and "breed" more as they progress, and this demand is what keeps the game selling at record levels.
In May of last year, the game skyrocketed in popularity, particularly in the Philippines, as the Covid-ravaged economy found a new source of money at home.
Despite the fact that both of the game's native cryptocurrencies, AXS and SLP, have dropped over 7% in the last 24 hours due to a larger market downturn, Axie Infinity has witnessed constant player growth, with approximately 3 million players globally in January.