NFT
Axie Infinity Celebrates 1 Million Daily Active Users, First NFT Project to Reach $1B All-Time Trade Volume
Sky Mavis, the developer of Axie Infinity, revealed that there are more than 1,000,000 daily active users. Additionally, the game token utilized within the Axie Infinity gaming universe tapped an all-time high at $52 per unit 10 days ago. Despite being down 18% from the price high, axie infinity (AXS) tokens have gained over 60% in the last two weeks.
Axie Infinity Celebrates 1,000,000 Daily Active Players
While blockchain gaming and non-fungible token assets (NFTs) continue to attract significant interest, Axie Infinity’s developers revealed their overall growth.
“It’s official,” the Axie Infinity Twitter account said on Friday. “More Than 1M active players daily. Let’s keep pushing, together.” For further clarification, the Twitter account for the project also added that “some players download the game client without owning Axies. There are still less that 1M Axie users .”
Interestingly, a few Twitter accounts complained to the Sky Mavis developers about issues with the other token tied to the game called smooth love potion (SLP). Axie infinity (AXS) tokens have done extremely well during the last two weeks while also gaining 218% over the last month. SLP’s market performance has been poor.
Smooth Loving Potion Slides in Value Axie Infinity NFT Vols Climb
SLP has lost 27.9% during the last week and 14-day stats show SLP is down 35.1%. Even 30-day metrics indicate that SLP is down 1.2%, which is significantly lower than the gains AXS has seen.
AXS had a market capitalization of $2.3 billion on Friday. This is 0. 13% of the crypto economy’s $1. 79 trillion value. In the last day, $601,927,662 in global AXS trades were settled and 79% of those swaps have been paired with tether (USDT). The Binance stablecoin BUSD captures 9.9% of AXS trades, BTC commands over 5%, and the U.S. dollar has around 4.2% of all trades today.
What a day. @AxieInfinity is the first NFT project to hit $1Bn in
all-time NFT trading volume.History is in the making. $AXS pic.twitter.com/oAc0rOYD9n
— Psycheout – Aleksander | Axie Infinity (@Psycheout86) August 6, 2021
SLP has a much smaller market cap at $134,565,864 which is only 0. 01% of the $1. 79 trillion crypto economy. There’s been around $106 million in 24-hour SLP swaps on Friday and 59% of those trades are in BUSD. ETH commands 35% of SLP trades and tether only has around 4.2% today.
The U.S. dollar captures only 1.1% of token smooth love potion trades. One of the co-founders at Axie Infinity tweeted Friday about the NFT trade volume. He wrote:
What a day. Axie Infinity was the first NFT project ever to surpass $1Bn in total NFT trading volume. The making of history.
What do you think about the Axie Infinity project and how its assets have been performing lately? Please share your thoughts on this topic in the comments below.
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NFT
Nike is facing a lawsuit from people who bought its NFTs
Wes Davis is a weekend editor who covers the latest in tech and entertainment. He has written news, reviews, and more as a tech journalist since 2020.
A group of people sued Nike this week over its decision to wind down its virtual show project RTFKT last year. The buyers of the digital assets accuse Nike of causing “the rug to be pulled out from under them,” and say they wouldn’t have bought its NFTs if they’d known they were “unregistered securities,” reports Reuters.
Filed in New York’s Eastern District, the proposed class action lawsuit seeks “unspecified damages of more than $5 million for alleged violations of New York, California, Florida and Oregon consumer protection laws.”
Nike tried to jump into the NFT game by buying RTFKT in 2021. But, like Starbucks Odyssey, it never quite worked out and the company abandoned the idea, announcing in December via the RTFKT X account that it planned to “wind down RTFKT operations” by the end of January this year.
Since then, RTFKT has seemingly been maintained by a single person named Samuel Cardillo, who spent Thursday posting through the sudden disappearance (and later reappearance) of artwork for its CloneX NFTs project.
NFT
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