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- The Axie Infinity’s sale of NFT went below $10M in August.
- The company witnessed fourth consecutive lows.
Axie Infinity, a non-fungible token-based online video game, secures its position in one of the oldest NFTs in the digital collectible world and also brought a revolutionary opportunity for many collectors in the world. But, the declining market and the market saturation have eventually made Axie Infinity lose its “profit making and money maker” tag.
According to data from CryptoSlam, the sales of the total collection of NFTs in the month of August just stood at $5.71 million.
Comparison of sales from the last year.
If we go through the current scenario of NFT projects in the crypto finance industry, then we will find the sales in august, i.e., $5 million, very satisfying. Further, the company jumped by about $842 million in August of the last year.
In August 2021, the sales managed to touch the $848 million bar, and the data was the all-time high monthly volume of the company.
The sale in August was 99% less as compared to the past year. In this duration, there were 305,264 new purchasers who stood for 1.85 million transactions.
Even though the all-time volume of the company went below $10 million back to back in August, it went 15% high from the last month. The sale of July stood at $4.9 million, which was produced by 52,896 new purchasers, along with 374,409 transactions.
In April, the company witnessed over $19 million in sales, and the crypto bear market of May witnessed the NFT drop from $12 million in sales in April to $7 million in May. The declination was unexpectedly stretched to June, which witnessed most NFTs plunge to new lows, influencing the company negatively with $3.19 million produced as sales for June.
Since the start of May, the company has registered less than 100,000 unique buyers. In May, the company witnessed 78,533 unique buyers, but it fell to 52,645 and 52,896 in the month of June and July, respectively. On average, the total of unique buyers went to a 16-month low of 44,558, the minimum of the project has witnessed since May 2021’s worth of 17,416.
Nancy J. Allen is a crypto enthusiast, with a major in macroeconomics and minor in business statistics. She believes that cryptocurrencies inspire people to be their own banks, and step aside from traditional monetary exchange systems. She is also intrigued by blockchain technology and its functioning. She frequently researches, and posts content on the top altcoins, their theoretical working principles and technical price predictions.
