Positive announcements have been released by DappRadar, which notified investors that NFT Collections increased by 300% over the last month. The most notable NFT Collections that surged included Axie Infinity, ArtBlocks, and CryptoPunks. This announcement follows the cryptocurrency marketplace expanded throughout the 2021 Q3 Quarter. There’d be more than 1.5 Billion in sales during this timeframe.
The downside is starting to experience its upturn, as DappRadar reported $1.2 Billion in NFT Sales in July 2021 for NFTs. That’s nearly half the total amount acquired throughout Q1 and Q2, which maintained an accumulated profit of $2.5 Billion in sales. There are also reports by DappRadar that 1.4 Million Daily Users were being sustained during the third quarter. This is an increase of 23.72% compared to June 2021. As such, significant growth across the industry is being witnessed per day.
Play-to-Earn Games
The Surging growth witnessed throughout the NFT Market is attributed to Axie Infinity, which is constructed around blockchain technologies. This Play-to-Earn game authorizes consumers to earn finances formatted as crypto tokens. Additional prizes will also be formatted at Digital Pets, Digital Horses for Breeding, or Digital Character for Battling. It’s noted that these games have flourished through the Philippines & Indonesia. That isn’t surprising when considering the sources of income that can be obtained through cryptocurrency transactions.
The Axie Infinity NFT Collection became the market most popular in July 2021, surpassing the likes of NBA Top Short. It’s estimated that Axie Infinity acquired trading volumes worth $830 Million to overcome NBA Top Short. 75% of that income was generated in July 2021, whereby the fourth week of July saw Axie Infinity sustaining trading volumes of $600 Million. This saw DappRadar report that $35.8 Million in Ethereum & Bitcoin had been generated in profits. As such, Axie Infinity has become one of the highest-performing assets in 2021. There has been a 431% increase in cost over the past month. Since January, their growth has been estimated beyond 7000%.
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The popularity associated with Axie Infinity & NBA Top Short has prompted numerous cryptocurrency companies to launch their respective NFT Games. However, none have managed to establish similar player volumes to their predecessors. But there’s a growing selection available to investors on the Binance Smart Exchange. As such, 658+ Thousand individuals have registered accounts with BSC.
The Chief Directive Officer & Co-Founder of DappRadar discussed the growth that’s been witnessed. CDO Dragos Dunica mentioned to Forbes Magazine that trading volumes are skyrocketing thanks to gaming collectables like Axie Infinity’s NFT Collection. He said that investors visited the Binance Smart Exchange more in July than any other period in history. As such, the activated trading wallets tracked on Axie Infinity doubled from 370 Thousand to 740 Thousand. Moreover, CDO Dragos Dunica anticipated that NFT Collections would continue to flourish throughout the cryptocurrency marketplace.
Axie Infinity
Investors can approach their experiences with Axie Infinity with Land & Battle Modes. Consumers who select the Land Mode are placed into the Axie Homeland, like Farmland from Facebook. Therefore, investors are provided with their initial piece of land that’s upgraded over shortened timeframes. It’ll be required for consumers to earn resources for crafting ingredients and items. The more items/ingredients that are constructed by investors, the more land that’s upgraded. Later, that land can be sold or used to host PvE Battles.
The Battle Mode comes is played on preconstructed worlds in the Axie Infinity Universe. Players enter their Battles by purchasing ERC20 Governance Tokens, which are formatted as Axie Infinity Shards. Each shard allows participants to compete in one fight & depending on the outcome of that battle, they’ll walk away with two Axie Infinity Shards. Those shards can be utilized to upgrade your characters & become more powerful. This assists investors in crafting additional materials and ingredients, which can be used for breeding purposes. When investors breed their Axie Characters, ERC20 Governance Tokens are earned & can be converted into additional cryptocurrencies like Ethereum. Afterwards, Ethereum is transferable into real money like the USD or GPB.