The NFT market witnessed a decline in monthly sales volume in the month of April. But, individually the picture was different for Axie infinity, one of the top play-to-earn games and digital collectibles. The project achieved an impressive all-time sales figure despite facing a major setback via the Ronin bridge attack.
Axie Infinity’s TSV tops that of other major projects
Data from Be[in] Crypto research, shows that Axie Infinity had a total sales volume of $4.07 billion as at the end of April. This performance comes after the project’s devastating $600 million loss from the Ronin Bridge attack in the same month.
This total sales volume ranks Axie infinity as the NFT collection with the highest sales volume. And also places the project ahead other top collections like Yuga Labs’ BAYC, MAYC and even CryptoPunks. Some other projects such as FLOW’s NBA Top Shot, Art block, CloneX, Azuki, Vee friends and Moonbirds also posted impressive sales volume competing with Axie Infinity.
What contributed to the rise in Axie Infinity’s all-time sales volume?
Three months contributed significantly to Axie Infinity’s sales volume, they include- July, August and November 2021.
The number of unique buyers rose from May 2021 and led to a peak in total transaction count. this spike in transaction count probably led to Axie Infinity’s impressive sales for the month. Furthermore, in the same month unique buyers were 17,416 corresponding to 113, 093 transactions. And the sales volume for the month was around $27.7 million.
The number of unique buyers increased from May to July 2021 at about 1,135%. This increase corresponds to around 215,089 unique buyers and 1,349,597 transactions, with a total sales volume of $666.91 million.
Axie Infinity sale volume hit an all-time high of $848.18 million in August 2021, with 305,264 unique buyers and these figures came from 1,854,260 transactions.
Unique buyers hit a peak of 520,425 in November 2021. The month recorded 2,643,500 transactions with a sales volume of about $754 million.
Some other months that contributed to Axie Infinity’s sales volume were:
June ($122.23 million), September ($518.46 million), October ($545.93 million), December 2021 ($301.37 million), and January 2022 ($126.49 million).
The impact of the spike on AXS price
Axie Shards (AXS) trading opened the month of April at $63.45. Then, it hit a monthly peak of $74.87 on April 2 before declining to $29.10. This marked a 54% decline from the month’s opening price.