Axie Infinity NFT Sales Plunge Below $10 Million For 120 Straight Days
Axie Infinity is among the many first video games to include collectible and tradable NFTs. Nonetheless, the sport has not too long ago failed to keep up the curiosity of present gamers and appeal to new ones.
This resulted in a decline in month-to-month gross sales that totaled lower than $10 million.
This isn’t the worst decline within the historical past of the sport. In comparison with August 2021 of the earlier yr, August 2022 has had the best fall in gross sales.
With 305,264 distinctive purchasers and 1.85 million attributed transactions, this means a decline within the recreation’s reputation.
The sport has additionally been topic to one of many largest hacks in historical past, shedding greater than $600 million
Axie Infinity Dilemma: Attracting New Traders
One would possibly comprehend buyers’ reluctance to put money into something that has suffered a big hack.
The sport’s community infrastructure has been questioned as a result of safety vulnerability.
On account of the sport’s emphasis on non-fungible tokens, it’s obvious that the bear market had a unfavorable impression on these tokens.
Virtually each side of the crypto market has been going through a extreme bear market. The graphs for each cryptocurrencies and NFTs level downwards.
The amount of NFT transactions peaked in January of 2022 at $16.54 billion. In Could, this quantity decreased to nearly 4 billion.
AXS Token Taking Heavy Blows
Axie’s NFT aspect will not be the one one struggling. AXS, the Axie Infinity token, has additionally been battling to remain afloat.
In line with knowledge from CoinMarketCap, the worth of Axie Infinity’s token on September 1 was $14.19 earlier than falling to $13.68.
Attracting new gamers or buyers is one other space the place the sport is having problem. Distinctive purchaser counts for the sport have been dreadful.
Even when the NFT market generated $19 million in April 2022, the crypto market meltdown in Could made it troublesome for the sport to reposition itself.
This problem is mirrored within the recreation’s $3.19 million in June gross sales — a horrible decline for the builders and the group.
Every day the market stays as pessimistic as it’s now, Axie’s future turns into extra tenuous. As troublesome as the present market may be, Axie and its folks nonetheless face a vibrant future.
A sequel to the unique recreation is now accessible: Axie Infinity Origins. This product was launched in April of this yr. Origins was acquired favorably by the group.
Good issues forward?
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