Axie Infinity (AXS) is losing momentum

Axie Infinity (AXS) is losing momentum


Is the contest over? Will 2022 smile or defeat non-fungible tokens (NFTs)? The year has started well for the latter, especially for the Axie Infinity, but the figures of the last few months seem to show a declining sector.

Axie Infinity down: give 70% of the peak

Blockchain game Axie Infinity has benefited greatly from the rise of NFTs in 2021. Axie Infinity NFT Trading exceeded 3 billion dollarswhile wholesale sales of non-fungal signs – all projects together – crossed $12 billion this year, according to data from Nonfungible.com.

Sales of NFTs in the week of December 20, 2021 reached $297 million. Although these numbers seem large in absolute terms, weekly sales actually got a big deficit for three months.

On December 28, 2021, a Chinese journalist known as Wu Blockchain on Twitter, he confirms on his tweet this drop by taking mainly Nansen’s data. These show a drop in “daily trading volume on Axie Infinity and Ronin chains and daily Axie NFT sales” to mid-July 2021 levels. Ronin is an Ethereum (ETH) sidechain built specifically for Axie Infinity , so Axie Infinity users can. trade, buy or pay NFTs without paying gas fees for sales.

Wu Blockchain Post – Source: Twitter

Axie Infinity’s daily active contacts are fell below 300,000“drop of over 70% since peak”.

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A win for the naysayers: the NFT bubble, is it over soon?

This data shows a decrease in sales volume not only for Axie Infinity, but also for the entire NFT industry itself. Is the NFT craze coming to an end? Were non-fungal signs created a bubble that would gradually shrink ? Critics of NFT projects will certainly defend these ideas. Another possibility is that the industry is easy has entered a new phasebefore the stabilization of the markets or the recovery of growth.

Even if the industry recovers in 2022, Axie Infinity will have to adapt. and the increasing number of competitorsexcluding the assumption that one or more competitors are in a position to capture an insignificant market share.

The future of NFTs depends in part on the development of current changes and the emergence of new, and perhaps other major players to follow. the footsteps of big name brands like Adidas in launching their unbreakable tokens.

Some are fans of NFTs, others prefer to invest in bitcoin (BTC), or ether (ETH) to take advantage of the new currency. You will surely find a cryptocurrency that suits you Register without delay on FTX and benefit from a reduction in your trading fees for life (affiliate link, see terms on the official website)