Axie Infinity (AXS) Surpasses $4 Billion in All-Time Sales

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In Brief
  • Axie Infinity continues to impress despite a waning NFT market.

  • Axie Infinity has seen a decrease in monthly sales volume since the start of 2022.

  • Axie Infinity had a combined sales volume of $4 billion by the end of April 2022.

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Despite a fall in monthly sales volume, Axie Infinity continues to hit new milestones in the non-fungible token (NFT) space.

Axie Infinity is one of the most popular names when it comes to play-to-earn games and digital collectibles. 

According to Be[In]Crypto Research, Axie Infinity had a total sales volume of approximately $4.07 billion as of April 30, 2022. 

This comes as a huge boost to the project after it lost $600 million through the Ronin bridge hack in April.  

This places Axie Infinity ahead of Yuga Labs’ Bored Ape Yacht Club (BAYC), Mutant Ape Yacht Club (MAYC), and the recently acquired digital collectible, CryptoPunks. 

Other projects in the running for the most sales volume include Flow’s NBA Top Shot, Art Blocks, VeeFriends, Moonbirds, Azuki, World of Women, Bored Ape Kennel Club, and CloneX. 

Source: CryptoSlam

What contributed to the spike in Axie Infinity sales volume? 

Increased unique buyers which started from May 2021 led to a spike in total transaction counts and can be attributed as the primary cause for the soaring Axie Infinity sales volume. 

In May 2021, Axie Infinity’s unique buyers were 17,416, and this corresponded to 113,093 transactions. Overall, Axie Infinity’s sales volume was around $27.71 million. 

There was a spike of 1,135% in the number of unique buyers from May to July 2021 which was around 215,089. This corresponded to 1,349,597 transactions and $666.91 million in sales volume.

In August 2021, Axie Infinity reached an all-time high in sales in the region of $848.18 million. The total number of unique buyers during the month was 305,264 and this corresponded to 1,854,260 transactions.  

Source: CryptoSlam

Unique buyers reached a peak of 520,425 in November 2021. During the month, there were 2,643,500 transactions, and sales volume was around $754 million. 

Aside from July, August, and November, other months which contributed significantly to Axie Infinity’s sales were June ($122.23 million), September ($518.46 million), October ($545.93 million), December 2021 ($301.37 million), and January 2022 ($126.49 million).

Impact on AXS price

AXS opened on April 1, 2022, with a trading price of $63.45, reached a monthly trading price of $74.87 on April 2, and closed the month with a price of $29.10. Overall, there was a 54% decline between the opening and closing price in April. 

AXS/USD Chart by TradingView

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As a writer, researcher, and analyst of centralized and decentralized financial instruments (stocks, commodities, metals, and cryptocurrencies), he started experimenting with financial asset trading in 2011. He ventured into full-time long term investing of cryptocurrencies in 2016.

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