The slump in the crypto market could not bring down NFT sales, and the results were rather gladdening. Axie Infinity emerged to be the leading gainer.
When the crypto market recently disappointed investors and other concerned people, NFT triggered a wave of joy. The closing of January did not go well for crypto with an unexpected slump. However, the Non-fungible Token, aka NFT, did not just perform exceptionally well but also broke all the records of the estimates that were in line from the last year, 2021. The Block conducted research and found the NFT sales to be as grand as $7.3 billion. This corresponding number was huge enough to record books so far.
It will be pertinent to quote the name of the biggest catcher here. Axie Infinity which is an NFT-based video game developed by Sky Mavis, stole the show for itself. According to info published by CryptoSlam, Axie Infinity has managed to make it to the top rank in NFT with $4 billion in sales. This is a moment of sheer delight for the company because it is it’s own highest and the highest number of all times across the globe. The most distinctive point in Axie’s business model is that its game developers do not take 100% of the proceeds as others do; a good percentage of 4.25 goes towards the $AXS token treasury per trade.
Some naysayers called such a feat to be a cloud that will go away soon. However, experts stood firm by supporting the fact that NFT holds a bright and promising future. One of such prime proponents is none other than the CEO and Co-Founder of Animoca-backed Web3 gaming publishing company, Ex Populus. Tobias Batton, the CEO of Ex Populus, was in a talk with GOBankingRates and labeled this situation as a boom for NFT rather than just being a temporary phase. He supported his argument by saying that NFT has made it to such a high record even in the slumped crypto market, which is worth inexplicable value.
He further added that the newer module of NFT has plenty of goodies like catchy digital elements, absolute ownership, blockchain tech, and so on. It will not be an exaggeration to say that people are utterly excited for NFT’s gaming, metaverse, and other unimaginable digital options. And the result of such a fascinating combo is that NFT has received immeasurable acceptance from varied categories of investors. It is no more just about the crypto experts having a share in NFTs, but other classes of people like celebrities, retailers, and more.
Another prominent personality, James Aitken, who is the Chief Marketing Officer of Ethernity, also has similar growth prospects. He foresees NFT to be a part of everyone’s daily routine. If people stick around for a longer tenure, there are chances that NFT will promise more utility value because more engagement would help to cut the developing cost.