Axie Infinity NFT sales went below $10 million.
- Axie Infinity’s NFT sales fell below $10 million in August.
- The company witnessed its fourth consecutive low.
Axie Infinity, a non-fungible token-based online video game, secures its position in one of the oldest NFTs in the digital collecting world and also provided a revolutionary opportunity for many collectors in the world. But the declining market and market saturation have finally made Axie Infinity lose its “profit making and money maker” tag.
According to data from CryptoSlam, the sale of the total collection of NFTs in the month of August was only $5.71 million.
Comparison of sales from last year.
If we go through the current scenario of NFT projects in the crypto finance industry, we will find the sales in August i.e. $5 million very satisfactory. Furthermore, the company increased by around 842 million dollars in August last year.
In August 2021, sales managed to touch the $848 million bar, and the data was the highest monthly volume of the company.
Sales in August were 99% less compared to the previous year. In this period, there were 305,264 new buyers who accounted for 1.85 million transactions.
Although the company’s all-time volume dipped below $10 million back-to-back in August, it was up 15% from the previous month. July sales were $4.9 million, which was produced by 52,896 new buyers, along with 374,409 transactions.
In April, the company witnessed over $19 million in sales and the crypto bear market in May witnessed the NFT fall from $12 million in sales in April to $7 million in May. The decline was unexpectedly stretched into June, which saw most NFTs plunge to new lows, negatively impacting the company with $3.19 million produced in 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 that fell to 52,645 and 52,896 in the months of June and July respectively. On average, the total number of unique buyers went to a 16-month low of 44,558, the minimum the project has witnessed since May 2021 is worth 17,416.
Nancy J. Allen is a crypto enthusiast and believes that cryptocurrencies inspire people to be their own banks and step aside from traditional money exchange systems. She is also fascinated by the blockchain technology and its function.
