The number of unique buyers and the average price of Axie Infinity NFTs continue to fall, which negatively reflects on the project’s sales.
Axie Infinity is one of the oldest NFT projects. After bringing in millions of dollars from investors around the world, the project is starting to lose ground. A decline that can be explained by both the slowdown and the saturation of the market for non-fungible tokens.
Consequently, the NFT collection only generated $5.71 million in sales in August 2022, according to data from CryptoSlam.
Axie Infinity: sales down $842 million compared to last year
Despite sales of over $5 million in August, which is impressive considering the number of NFT projects available, Axie Infinity lost an estimated $842 million compared to August 2021, a decline of 99%.
In August 2021, its sales reached $848 million, marking a record monthly volume for Axie Infinity. At the time, the collection had 305,264 unique buyers, which equated to 1.85 million transactions.
Monthly sales of less than $10M
For the fourth month in a row, sales of the NFT collection fell below $10 million. Note, however, that they have increased by 15% compared to the 4.9 million dollars (52,896 unique buyers and 374,409 transactions) registered in July.
After surpassing $19 million in April, Axie Infinity’s NFT sales volume fell to $7 million in May. When the bear market escalated in June, they hit a low of $3.19 million.
The number of unique buyers and the average price of NFTs fall to new lows
Since the end of April, Axie infinity has recorded less than 100,000 unique buyers per month. The number of unique buyers stood at 78,533 in May and 52,645 and 52,896 in June and July respectively. Indeed, the number of unique buyers reached a low of 44,558. A level not reached since May 2021 (17,416 unique buyers).
In August 2021, the average selling price of Axie Infinity NFTs was $457.42. This year, the decline in interest in NFTs, which has led to a substantial drop in the total number of transactions over the past four months, has caused the average sale price to drop to $13.31, a decline of 97%. compared to last year.
What impact on the price of the AXS crypto?
In August, the trading volume of AXS, the project’s native token, saw a low of $79 million and a high of $219 million.
Moreover, the market capitalization of the AXS crypto dropped from $1.48 billion on August 1 to $1.18 billion on August 31, representing a monthly decline of 20%.
AXS started August with a price of $18.10 before hitting a monthly high of $19.46 and then falling to a monthly low of $13.04. As of August 31, the token was trading at $14.14.
Overall, the AXS crypto lost 21% between August 1 and August 31.
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Axie Infinity: Sales Drop Below $10M For Fourth Consecutive Month – BeinCrypto
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