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NFT Trading Activity Doubled in Q2 2021

Axie Infinity leading the pack with remarkable growth!

The number of NFT sales and the daily average of unique wallets has more than doubled in Q2 2021 compared with the first quarter. In comparison to Q1, the number of sales spiked in 111.46%, while the daily average of unique wallets increased 151.86%.

Especially play-to-earn games have seen tremendous growth in the past three months. Alien Worlds is worth mentioning, but Axie Infinity has been leading the charge. The Pokémon-inspired battle game is mentioned as a key-driver for the NFT industry in the second quarter of 2021, according to the DappRadar Industry Report.

Within the NFT industry there’s now a lot more activity in trading cheaper NFTs. At the same time trading expensive NFTs happens less frequent. The impact of the crypto price drop can be seen here. There has been a lot less trading in for example CryptoPunks, $95 million in March against only $16 million in June.

Alien Worlds, a gaming DeFi dapp filled with less expensive NFTs, reached 225,000 UAW in Q2 2021. That’s up 1,087% from the previous quarter. The $13.8 million USD obtained in total volume represents a 1,397% increase over the past 3 months. 

The impact of Axie Infinity

Axie Infinity had $84.1 million in transactional volume, which is 769% higher when compared with Q1 2021. Moreover, Axie has grown 360.61% from the previous quarter reaching more than 4,700 daily unique on-chain users.

The impact of Ronin, the custom Ethereum sidechain made by Sky Mavis, has a clear impact on the success. Because Ronin allows gamers to interact with the dapp free of gas. According to Sky Mavis, the game already attracts 295,000 daily active players.

To read more about Axie Infinity and its impact on the NFT market, please read the DappRadar Industry Report for Q2 2021.

Source: NFT Trading Activity Doubled in Q2 2021

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