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Mystic Axie Floor Price Now Higher Than CryptoPunks’

Posted by
Robert Hoogendoorn

Investors need to pay at least $47,575 to buy a Mystic Axie

The floor price of Mystic Axie NFTs has now surpassed the floor price of CryptoPunks, often considered the golden standard for NFTs. The cheapest Mystic Axie on the Axie marketplace now costs 20,98 ETH or $47,575, while sellers have listed the cheapest CryptoPunk for 17,9 ETH or $40,520. 

Having the floor price of Mystic Axie NFTs exceeding the floor price of CryptoPunks is no small feat. However, there’s some reasoning behind this spectacular move. 

In total there are 1,376 Mystic Axie NFTs, while there are 10,000 CryptoPunks. At the same time the number of Axies keeps increasing because players can breed them, while the number of Punks is set in stone. As a result Mystic Axies become more rare within the entire Axie population, and as the community grows demand for Mystic Axies increases. 

Even though Axie Infinity’s Mystic NFTs have flipped the floor price, the most expensive CryptoPunks are still far more valuable. Last month the Covid Alien Punk was auctioned by Sotheby’s, and changed owners for $11,8 million. Earlier this year two other alien punks sold for $7,5 million through two on-chain transactions.

So far there hasn’t been an Axie that exceeds the $1 million price range.  

Axie demand ever increasing

Axie Infinity has been making major moves in the past few months. The launch of the Ronin sidechain and the organic growth of their play-to-earn community, has brought tremendous demand for Axie NFTs and the SLP utility token. The Axie Infinity game now has 350,000 daily active players, and demand is ever increasing.

As demand for Axie Infinity creatures continues and players breed new Axies, the 4,088 Origin Axies become rarer. Out of these Origin Axies, approximately 30% has at least one Mystic part. The more body parts have the Mystic rarity, the more rare and expensive an Axie becomes. 

There will only ever be 19 Axies with three Mystic body parts, and only 3 with four Mystic body parts. One of these triple Mystic Axies sold last week for 369 WETH or more than $819,000. This particular Axie is among the 22 most rare creatures in the game’s universe.

How to value Axies?
How to value Punks?

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