Is $4 billion worth of NFT sales? Not necessarily, according to Axie Infinity.

Games that use the Blockchain technology have swept the world. In the last month alone, these games raised $1 billion in funding, according to DappRadar, demonstrating the growing interest in the market.

Unlocking a milestone

There has been a lot of buzz recently about Axie Infinity, an Ethereum-based video game created by Vietnamese software studio Sky Mavis. Revenues from the Play-to-earn platform surpassed $4 billion for the first time in company history (all time). The result is that it has become the third-largest NFT platform in all-time sales.

However, despite the fact that the game's NFT sales were lower than those of OpenSea and LookSrare, this is still a massive achievement.

Axie Infinity's sales totaled $4,001,877,705 in 2017, according to CryptoSlam. In fact, the total sales volume of Axie Infinity exceeded that of CryptoPunks, the NFT collection that came in second.

Axie Infinity
AXS  Source: CryptoSlam

Axie NFT's 24-hour sales figures show that the project had $2.4 million in transactions from more than 38,000 buyers. It showed a steady rise in the number of players, reaching nearly 3 million in January around the world.

Axie NFT's 24-hour sales figures show that the project had $2.4 million in transactions from more than 38,000 buyers. It showed a steady rise in the number of players, reaching nearly 3 million in January around the world.

Additionally, I experienced an episode of the hiccups.

Over the past year, the game's native digital currency, Axie (AXS), increased in value by 2,544% against the US dollar. However, at the time of this writing, this trend had not been reciprocated. In fact, AXS's price fell by 13%, causing it to trade below the $49 mark.

Axie NFT sales numbers
Source: Active players.io

Axie Infinity sold on average for $32.93 in the most recent market data. According to DappRadar's data, that's a 54% decrease. Weekly sales were down by more than 40% as of the time of publication, putting it in 5th place. It was ranked eighth in terms of 30-day NFT sales in the last month.

The average sale price of Axie Infinity was $198.77, and the project attracted 1,905,222 participants over its lifetime.

Will it be able to bounce back despite its dwindling output in 2022? What's the matter, exactly?

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