Axie Infinity Exceeds NBA Top Shot in its Weekly NFT Transactions

Kavya  |  Aug 11, 2021

A platform for earning money by playing games Axie Infinity has exceeded the popular basketball-themed trading card game NBA Top Shot in terms of weekly non-fungible tokens (NFTs) transactions.

Axie Infinity Exceeds NBA Top Shot in Weekly Transactions of NFT

According to statistics, Axie Infinity accounts for 53% of weekly NFT transactions, while NBA Top Shot accounts for around 45%. Other initiatives, such as CryptoPunks and Meebits, contribute the remaining volume.

The increase in sales came after Mavis Sky, the business's parent company, received $8.75 million in investment for Axie Infinity, backed by billionaire Mark Cuban and BlockTower Capital. Konvoy Ventures, Libertus, and Collab + Currency partners Derek Schloss and Stephen McKeon are among the other investors.

"I believe it's a fantastic platform," Cuban stated in a statement released after the fundraiser. “It's entertaining and entertaining. It's a game you'll want to play for hours."

NBA Top Shot is considered for its weekly NFT transactions majorly since it was established in December 2020. But the number of transactions are declining rapidly since late June. 

What Are The Causes Of Shutdowns Faced In The Past Few Weeks?

Axie Infinity is experiencing increases in both volume and pricing. According to CryptoSlam.io, the game platform has already made more than $42 million in sales in June, which is more than the rest of 2021 combined. 

The site has already topped its May sales with over 22,000 transactions on its restricted marketplace.

The platform, created by Singapore-based gaming studio Sky Mavis, has expanded at such a breakneck pace that its server has struggling to keep up. This has resulted in several shutdowns in recent weeks.

Axie Infinity’s platform presently has over one million daily active users. It became the first NFT platform to reach one billion dollars in total trading volume earlier this week.

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