Axie Infinity, a P2E game, saw a drop in sales for the third consecutive month in 2022 after achieving milestones last year. Dwindling volume over the last month could have a huge impact on the fortunes of Axie Infinity as it also features NFT collectibles. It gained more than 11,800% of March 2021’s sales in July when the NFT product began trending online. Axie Infinity generated a sales volume of about $666 million.
The platform continues to record sales that, when compared to the milestones achieved in July, August, September, October, November, and December 2021, are described as a “mere fraction”. The total sales volume of Axie Infinity for the month of March 2022 was down from the previous month. It made only $82 million in February, while $31 million in March – a 61% decline.
Analysts say Axie Infinity’s fall started in December 2021, when it shed 60% of November’s new high. The market took a bearish stand and the platform’s sales volume dipped to $301 million from November’s high of $753 million. Analysts attribute the decline to primary factors such as decreasing unique buyers, average sales, and transaction counts. In November, Axie Infinity recorded an all-time high of unique buyers 520,425, which fell to 424,325 in December.
Furthermore, Axie Infinity’s native token AXS has also seen its price fall. In the last 24-hours, AXS is down by 8.22% as per CoinMarketCap and is trading at $58.62. It lost nearly 10% of its price in the last seven days.