Axie Infinity’s Stats Slump: A Play-to-Earn Reality Check

Axie Infinity ranks among the many largest blockchain-driven play-to-earn video games ever. However, its luster has dimmed significantly from its January 2022 peak. Then, a sturdy 2.78 million common month-to-month gamers flocked to the sport. Yet, as we speak’s depend stands at a mere 359,254 common month-to-month individuals, translating to a dramatic decline of over 87%.

Axie Infinity’s Dramatic 87% Decline in Average Monthly Users

The play-to-earn blockchain recreation, Axie Infinity, skilled a notable lower in its common month-to-month customers since January 2022. At that point, Axie Infinity attracted a mean of two.78 million month-to-month customers. By June 2022, this quantity fell to 958,044.

The subsequent month noticed a lower of roughly 191,240 customers, leaving about 766,804 month-to-month customers in July 2022. Since February 2023, Axie hasn’t surpassed the 400,000 mark nor dipped beneath 340,000, based on activeplayer.io figures.

The recreation, which makes use of non-fungible token (NFT) expertise, was first launched on the Ethereum blockchain. To develop, Sky Mavis, the sport’s builders, developed a layer two (L2) chain named Ronin. The rollout of Ronin completed in February 2021, and by April of the identical yr, all Axie NFTs transitioned from Ethereum to Ronin.

Even with a lower in month-to-month customers, Axie has logged $4.28 billion in NFT gross sales over 20.32 million transactions. However, figures from defillama.com point out that the overall worth locked (TVL) on Ronin has seen a big decline. On December 3, 2021, Ronin’s TVL peaked at $1.487 billion, however it has since fallen to $61 million.

The mission’s native cryptocurrencies, axie infinity (AXS) and smooth love potion (SLP), have declined 97.13% to 99.65% from their report highs. In the final month, AXS decreased 1.3%, however it rose 4% up to now week. Meanwhile, SLP fell 2.2% over 30 days in contrast with the U.S. greenback. SLP ranks 351 amongst greater than 10,000 cryptocurrencies, whereas AXS holds the 61st place on September 16, 2023.

More than 99% of AXS investors have confronted losses because the recreation’s forex introduction. Axie’s unique active wallet count isn’t faring a lot better, with a decline of over 14% up to now 30 days. This month’s transaction depend is down 6.53% from the earlier month.

With a quantity lower of greater than 43%, the mission’s numbers look bleak. Although 359,254 month-to-month gamers is notable, Call of Duty’s cell recreation tallied almost 57.9 million gamers in August. This signifies Call of Duty had about 161.3 occasions extra month-to-month energetic customers than Axie.

What do you consider Axie’s downturn because the mission’s peak? Share your ideas and opinions about this topic within the feedback part beneath.