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Here's what we have for you today:

• 💪 Axie Infinity Is Making A Comeback

• 🎮 Gamestop Launches Nft Marketplace

• 🤣 Meme Of The Day

• 📊 Top 5 Sales Of The Day

Axie Infinity Is Making A Comeback

While the rest of the world is dealing with the state of the market as it’s been all year, Axie Infinity is out here during a remix of the Eye of the Tiger (EYoTT) song.

Ronin network bridge collapsed to a $622 million hack. The first five months of the year were challenging for the franchise. The play-to-earn economy was already failing, and then they lost a huge sum of money to a hack.

But people underrated Sky Mavis’ tenacity. So, they were too hasty to call the death of the biggest P2E game in the world. And now Axie Infinity is back shouting, “As you can see, I am not dead.”

The top NFT game had shown signs of recovery over the last few weeks when it re-opened the bridge and refunded users who lost their assets to the hack. But, it made a convincing statement when its sales rose by almost 200% within the last seven days, selling around $1.38 million worth of NFTs, as reported by CryptoSlam.

Now, we get that the sales volume pales compared to the numbers the company posted last summer. Back then, it was effortlessly topping $100 million in weekly sales. However, this is the best they’ve done since things went south in March.

Most notably, Wednesday saw the highest number of Axies traded within 24 hours since the company almost went down. Jeff Zirlin, the co-founder of the game, announced the development in a Tweet on Thursday.

He mentioned that there were downloads on the new Origin version of Axie Infinity. This new version of the game features several changes from the old one. It has a new battle system, boasts better visuals, a new land staking feature, and other enhancements. 

He also mentioned that over 90% of Axie land owners are already using the land staking features to earn rewards in the game. And of course, the popular opinion is that the new gaming system is already better than the previous version even though major improvements are still in the works. 

Axie Infinity is out to prove all doubters wrong pretty much like the EYoTT song lyrics: they did their time, took their chances, went the distance, and now are getting back on their feet.

Nonetheless, the game’s token prices are still significantly low. AXS is currently valued at $14, which is 91% lower than its peak of $165 in November last year. Similarly, the SLP is valued at $0.004, representing a 99% fall from its ATH precisely a year ago. But, we can simply blame that on the recent trends in the crypto market.

Overall, whether Axie Infinity’s recent sales spike is a short-term spark or will grow into a trend remains to be seen. But Sky Mavis is still building, and there’s every reason to believe they’re on a mission to rise straight back to the top.

🤣 How About A Laugh?

Gamestop Launches NFT Marketplace

After months of speculations, hyping, and teasing, Gamestop finally unveiled its NFT marketplace's beta version on Monday. However, it comes off the back of significant downsizing by the company. Hence, the new product launch has been met by mixed reactions from the general public and players in the crypto world.

Financially speaking, the marketplace is doing pretty well as it grossed over $2 million in trading volume within the first 48 hours of launch. Reports from GameStop analysis Twitter account GMEdd also indicated that MetaBoy is the highest-grossing project on the marketplace and is responsible for close to 10% of the total sales volume. 

An NFT in the Metaboy collection even had an asking price of 2,000,000 ETH, that’s over $2 billion in fiat. So you could be the proud owner of MetaBoy #4522 if you’re willing to part with enough money to buy a large private island. Keep in mind that the creators set the price, not the marketplace. 

Anyway, Gamestop has largely enjoyed a bullish run into NFTs. However, the company has also received some criticism for its strategy, which many people perceive to be quite aggressive. 

As per reports earlier this month, the company did massive layoffs within its corporate sector to cut costs and maximize its current web3 strategy. And, of course, several individuals are not happy about that. 

Most notably, Forbes contributor Paul Tassi labeled the new NFT marketplace as “an Opensea knockoff with generally worse artwork” in a scathing review he posted on the Forbes website. You would think he was one of the employees that got laid off going off on the company for how unfair they were. 

Overall, the new marketplace isn’t so different from the other mainstream NFT marketplace places. It even charges a similar 2.25% transaction fee, and it currently has about 54,000 unique NFTs sorted into some 250 collections. 

According to the creators, the platform enables gamers, creators, and collectors to trade digital assets. (Yeah, just the typical NFT marketplace stuff). They further stated that with time, the marketplace would expand functionalities to serve niche categories like Web3 gaming and other Ethereum environments.  

That said, the company’s over $2 million in trade volumes means it has earned close to $50,000 revenue in transaction fees from the marketplace. Of course, considering GameStop’s size, that revenue is a drop in the bucket. But it’s early days, so there’s no need to be too critical of their earnings just yet.

For now, sales volume in the marketplace isn’t so bad, considering the general situation of the NFT and crypto market. But it remains to be seen if GameStop will be able to recreate the highs it enjoyed as a meme stock in early 2021.

TOP 5 SALES OF THE DAY

So how did we do?

• ⭐️⭐️⭐️⭐️⭐️ You guys killed it!

• ⭐️⭐️⭐️ Mid

• ⭐️ This actually sucks