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This Week in the Axie Infinity Market (August 26th to September 2nd)

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Michael Caloca / ONE37pm

In this edition, we'll look at the past 7 days of the Axie market and recap the highlights from one of the biggest platforms in the history of NFT gaming. 

The numbers in this recap were sourced from Axie's Marketplace Tracker.

Can't Touch This

Axie Infinity shows no signs of slowing down. Over the past month, the game has generated over $800 million in revenue. 

Also in the past week, Axie Infinity hit over 1,000,000 android users, demonstrating that they are not slowing down with regard to growth in revenue or their player base. 

As this community has grown, we can also observe more and more content creators starting to make content about Axies. One of the biggest names in Axie, trainer/guru Brycent, made an absolute banger of a video this last week convincing other streamers to try Axie Infinity. It was one of the most entertaining videos I have seen over the past few weeks, gifting more than 100 subs to one streamer on Twitch to entice them. The results are *french kiss*. 

It’s a very interesting look at how players try to grasp this new play to earn economy that Axie Infinity has pioneered. 

And if want to learn even more about Axie I highly recommend this other interview ONE37pm did with Brycent.

Market Volume:

As of this writing, over $167 million has been traded over the past 7 days. More than 409,000 Axies were traded, with just over 600 lands changing hands.

Bring it to the floor:

The absolute cheapest or lowest price of Axies is what we call the floor—groundbreaking, I know. 

In previous iterations of this market recap, I took the cheapest one or two Axies on the market and analyzed that as the floor. After crunching my numbers, I find it’d be better for this and future versions to instead focus on the lowest ten (10) Axies on the market. 

There is a visual bug that makes it appear that the cheapest axies are less than 30 dollars. After checking it shows that these are not valid/currently listed for sale. So the true floor range is from $185 to $190.

This price is extremely affected by the recent surge in ETH. Ethereum has increased more than $500 since this time a week ago. 

However, even with the drastic increase in ETH over the past few days, we are seeing a decline in the floor prices of Axies. The average price for a floor axie in the last write-up was $224; in this edition it was $188. This follows a trend over the past few editions of the floor price declining since the last SLP update. 

SLP:

To breed your Axies, you need to spend the in-game currency SLP, which can be earned in-game or bought/sold on crypto markets like Binance. 

Also playing a game of snakes and ladders with floor prices is SLP. It has fallen more than 10% over the past week. Sliding down from 16 cents to currently 12 cents. Unless a drastic change happens to the utility or distribution of SLP, it appears as if the trend might continue. 

AXS:

Another barometer of the Axie economy is their governance token AXS. Users who hold these tokens can vote to shape the direction of the game. Also, they can stake this token to vote and earn more AXS. 

Unlike previous editions, AXS has not taken as many drastic upswings in the price over the week. It has been trading in the range of $67 to $80 dollars. It remains to be seen if AXS is holding at this level or will hit another leg upwards.

Land Sales:

Even though ETH has been on a tear, we are not seeing any increase in the floor for lands. It is still trading around the same value as it did in my last edition of the market recap.

The End:

This has been this week’s Axie Infinity Market recap. If you have any questions or requests for future editions, be sure to comment below after clicking the thumbs up icon. 

And be sure to follow me on Twitter @swolesome for your NFT gaming fix! I will be doing an in-depth look at Axie scholarships soon right here on One37pm.

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