Axie Infinity: $4B in NFT sales may not mean what you think in the short-term
Blockchain-based games have taken the world by storm. According to a report from DappRadar, these games got around $1 billion in funding last month, clearly showcasing increasing interest in the space.
Axie Infinity, the Ethereum-based video game crafted by the Vietnamese software studio Sky Mavis, has been trending a lot of late. The Play-to-earn platformcrossed the $4 billion mark in historic sales (all time). Ergo, becoming the third-largest NFT platform in terms of all-time sales.
This is monumental, despite the fact that the game’s NFT sales were below Opensea’s $21.85 billion and Looksrare’s $16.85 billion.
According to CryptoSlam, Axie Infinity’s sales’ figure stood at $4,001,877,705. In fact, Axie Infinity’s total sales volume was almost double the value of the second-place NFT collection, CryptoPunks.
Source:CryptoSlam
According to 24-hour Axie NFT sales numbers, the project received $2.4 million in transactions from over 38,000 buyers. It pictured consistent growth of players with nearly 3 million players worldwide in January.
Source: Active players.io
Talking about holders, there were 53,734 AXS token holders at the time of writing, as per Dune Analytics. The average Axie Infinity sale price was around the $110-mark.
The game’s native digital currency Axie (AXS) appreciated by 2,544% against the U.S dollar over the last year. However, this trend wasn’t being reciprocated at press time. In fact, AXS suffered a 12%price correction following which, it traded below the $49-mark.
According to the most recent market figures, the average selling price of Axie Infinity was $32.93. That’s a 54% fall, as per the data from DappRadar. Weekly sales, at press time, were down by more than 40% as itstood on the #5th spot. Over the
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