The crypto-powered play-to-earn (P2E) game Axie Infinity (AXS) is again showing signs of life, after being hit hard by a price collapse in the NFT and P2E sectors in crypto. However, sales of NFTs for the game have still fallen significantly in May and June.
One sign that the worst might be over for the game is the price of the game’s AXS token, which recovered about 10% from its low of USD 11.80 on June 18. Since then, the token reached as high as USD 18.50 on June 25, before once again sliding in recent weeks.
The stabilization of the AXS token price came as Axie Infinity embarks on a journey to transition its model to what it calls play-and-earn, rather than the traditional play-to-earn.
As it turned out, play-to-earn was extremely popular among users as long as prices of the tokens used rose in value. This was especially true in developing countries, where earnings from these games were often higher than average salaries.
When token prices started falling, however, the...
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