US Web3 News: Axie Infinity / NFT Trading Volume | coindesk JAPAN | Coindesk Japan

Axie Infinity Coming to the App Store

Sky Mavis, creator of the popular NFT game “Axie Infinity”, has launched the card-based strategy game “Axie Infinity: Origins” on the App Stores of major markets in Latin America and Asia. Until now, it was available in limited regions through Google Play and the company’s Mavis Hub.

Origins allows you to start playing with a non-NFT “starter” character, and has already recorded 1.5 million installs across all platforms.

• Crypto asset Axie Infinity (AXS) rises: AXS rose more than 12% from $7.16 to $8.04 after this news, topping the CoinDesk Indices leaderboard. However, the rally did not last long, and at the time of this writing, it is trading just under $7.

Does NFT Volume Matter?

According to a report released by DappRadar on May 18, NFT’s May trading volume may fall below $1 billion for the first time this year. Meanwhile, the number of active wallets handling NFTs per week has increased, with already 2.3 million transactions in May.

• What does the data mean: DappRadar blockchain analyst Sara Gherghelas said this could be a sign that there are more NFT traders in the market making smaller deals.
• A metric called trading volume: Trading volume is a key indicator of how the NFT market is doing, but it can be driven by wash trades and the trading of a small number of ultra-high net worth individuals. It is still a useful indicator, but needs to be viewed in the context of current market conditions.

｜Translation: coindesk JAPAN
｜Editing: Takayuki Masuda
｜Image: Axie Infinity: Origins (capture)
｜Original: To Axie Infinity and Beyond