The Axie Infinity land presale was by all measures a great achievement.
And we can think of no team more deserving then Axie — they’ve consistently impressed us with their ability to build and ship awesome NFT projects.
We were happy to play our small part in their success by helping them make land more accessible via our Nifty Gateway buy button. With their input, we’ve decided to write up a brief summary of how everything went.
Do people want to pay for NFTs with fiat currency?
It is a looming question in the NFT industry — will people still buy NFTs if they have to pay using cold, harsh cash instead of crypto currency, which for some is ‘play money’?
Early evidence indicates that the answer is yes. In total, Nifty Gateway customers have spent $32,991 on Axie Infinity land, accounting for approximately 8% of their sales.
In total, we had 73 distinct users purchase land with Nifty Gateway.
Fiat means people spend more
Our early customer feedback told us that people liked to spend fiat currency when they had run out of crypto currency to spend — simply using a credit card is easier then going to an exchange and purchasing more crypto currency if you are out.
This was backed up by the Axie Land sale — the average purchase size was ~$127. The single largest customer we had spent a total of $7,994.
It looks like people prefer to use fiat for large purchase sizes. I can back this up with my personal experience — when I’m out of crypto currency in my Metamask, I find it much easier to use a credit card rather then go acquire more.
A huge thank you to Axie Infinity
We’re honored with people who make nifties. Our mission at Nifty Gateway is to get 1 billion people collecting NFTs and we will not rest until it is accomplished.
This is clearly impossible without the creators who push the NFT field forward — teams like Axie Infinity who create NFTs and the experiences around them.
For us, the game makers are the ‘empty chair in every meeting’ (when discussing things, we sometimes literally point to an empty chair to represent the game makers point of view).
So thank you so much to the Axie Infinity team, we’re honored to help you make your game more accessible!
The Nifty Gateway team