Axie Infinity NFT Sales Drop Below $10M For Four Consecutive Months

Axie Infinity is one of the oldest NFTs in the digital collectibles space and has made significant fortunes to many collectors around the world. As a result, CryptoSlam data showed that the NFT collection generated only $5.71 million in sales during August 2022.

Axie Infinity
Source: Axie Infinity August 2022 Sales Chart by CryptoSlam

Axie Infinity sales exceed $800 million annually

Despite surpassing $5 million in August, which is quite impressive considering the number of NFT projects in the crypto finance industry today, Axie Infinity has dropped nearly $842 million from August 2021.

Source: Axie Infinity August 2021 Sales Chart by CryptoSlam

Axie Infinity dips under $10 Million for the fourth consecutive month

The most successful NFT sales of all time were under $10 million for the fourth month in a row in August, up 15% from July. The July sale was $4.9 million, resulting from 52,896 unique buyers and 374,409 transactions.

Source: Axie Infinity July 2022 Sales Chart by CryptoSlam

After seeing more than $19 million in sales in April, the crypto market crash in May saw NFT cut sales of $12 million in April to $7 million in May.

Unique buyers and average sales experience a decline

Since the end of April, the digital collection has registered less than 100,000 unique buyers. Unique buyers fell from 78,533 in May to 52,645 and 52,896 in June and July, respectively. At its peak in August 2021, the average sales value was $457.42. The impact of the lack of interest in NFTs, which has caused a significant drop in the total number of transactions in the last four months, saw digital collectibles sell for $13.31, down 97% from the previous year.

AXS price is a reflection of bearish market trends

The negative market sentiment, which started August strong with a market cap of $1.48 billion, fell 20% to $1.18 billion on the last day of the month. Opening on August 1 with a trading price of $18.10, AXS reached a monthly high of $19.46, tested a monthly low of $13.04 and closed the month at $14.14.

RELATED : SEC Warns Crypto Investors Against Scams Exploiting Social Media Hijack Fears
Source: AXS/USD Chart by TradingView

About Hama Amefiz

Amefiz is a professional blockchain, cryptocurrency and tech journalist, regular contributor to newsbsc.com who is writing analysis about the latest developments in the cryptocurrency and blockchain space.

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