Axie Infinity, one of the most popular play-to-earn opportunities to date, has been responsible for more than $765 million in NFT trading volumes in the past month. This means that Axies and their virtual land are responsible for about 83% of the total volume of game NFT sales in August.
According to the upcoming DappRadar and Blockchain Game Alliance report, game NFT sales generated $918 million in volume. This represents about 18% of all the NFT sales in August.
Thanks to a spectacular performance in August, Axie Infinity remains the most valuable NFT collection of all time. It recorded upwards of $1.8 billion in sales in a month. CryptoPunks is following closely, but needed a lot less sales to achieve that.
According to a recent DappRadar August Industry Report, it is clear that Axie Infinity is experiencing a continued surge in new users and value generation. More than one million players are interacting with the platform on a daily basis. This makes Axie Infinity one of the most popular dapps across all chains.
Of course, a huge driver for activity on the platform is the play-to-earn element. Axie Infinity is a pioneer in the sector. Additionally, the game’s recently boosted social media presence further solidifies its user retention rates. Logically, the bigger the audience, the more Axie generates in NFT sales. Interestingly, Axie Infinity blurs the boundaries between gaming, NFTs, and DeFi. It’s purely impressive how a game-based NFT collection outperforms big names like CryptoPunks and Art Blocks. Notably, the average sale price for an Axie is not even close to the floor price for a Punk NFT.
If you are curious to find out more about Axie Infinity’s success in recent months, as well as the development of the whole blockchain gaming sector, stay tuned for our latest report. Follow us on Twitter, and join our Discord channel to get the news first when the full report goes live!
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