According to game statistics site Activeplayer, the average monthly number of users playing monster-battle nonfungible tokens (NFT) game Axie Infinity has fallen to 701,447, representing levels not seen since January 2021. At its peak, monthly Axie Infinity players hit 2.78 million in January of this year before the advent of the crypto winter. The popular play-to-earn NFT game lost 1.2 million players alone in June.
Bear market aside, game mechanics also partly contributed to the decrease in player count. At around the same time last year, players in developing nations reported higher earnings from playing Axie Infinity than some countries' minimum wages.
However, since that time, the price of Smooth Love Potion, Axie Infinity's in-game rewards token, has fallen by more than 95%. Its circulating supply has also increased from about 2.4 billion to around 40 billion in the same period due to the high volume of new players rushing in and earning tokens in-game.
November 2021 was also...
Your content is great. However, if any of the content contained herein violates any rights of yours, including those of copyright, please contact us immediately by e-mail at media[@]kissrpr.com.
INN caught up with cryptocurrency investment expert Dan Hoover to review the current landscape and where the market may be heading. The cryptocurrency investment marketplace has gone through severa...