The statement passed by the co-founder of Axie Infinity resulted in a very positive outcome for Axie Infinity, in terms of trade Market Cap value.
Axie Infinity is a non-fungible token (NFTs) based online Blockchain video game. It was developed by Vietnamese studio Sky Mavis, known for its in-game economy. The platform uses Ethereum-based cryptocurrencies and the same network to support NFTs. At present, Axie Infinity is highly popular in the category of Play-to-earn (P2E) Metaverse projects.
On 8 July, Jeff Zirlin, Axie Infinity co-founder, took to Twitter to inform the Axie Infinity users about the latest performance after relaunch of Ronin network and said that adoption of NFT land staking, the Ronin bridge being back up, and a notable uptick of game downloads and NFT sales.
Due to the statement of Axie Infinity co-founder, NFT sales volume pumping and it pumped by around 205% over the past seven days. According to the analysis of CryptoSlam, $1.3 million worth of sales over the past 7 days from a total of 23,100 buyers took placed.
However it was not all about the current recovery situation of the crypto market, but there was a leading catalyst factor because of the launch of staking support, around 10 days ago from this date.
According to the available data at Ronin Chain explorer, at the time of writing this article, 91% of the 16,794 circulating supply has been staked.
In the last few months, Ronin Bridge was under huge discussion among the crypto investors because of the hack attack on it, where the platform lost around $600 million worth of crypto assets. The bridge was relaunched in late June.
Indeed bridge is a sidechain built for Axie Infinity. This bridge enables users to transfer assets between the game and the Ethereum mainnet.