Axie Infinity changes economics

Axie Infinity changes economics

Play To Earn Games | 09 Mar 2024 10:05 UTC

Axie Infinity Deploys Desperate Changes to its Resuscitate its Limping Economy.

Axie Infinity, the torchbearer of P2E, decides to implement a few changes to its economic model after plunging stats of its token price, NFT valuation, and trading volume. After its astronomical popularity last year, this is the first time the game suffers a decline in popularity.

Axie Infinity changes its economic system
Axie Infinity changes its economic system

The Ethereum based game enjoyed massive success last year and racked up almost $4 billion in NFT trading volume.

However, things went south lately for Axie Infinity as its token and NFT values took a downfall. The plunging values of the game have put the entire play-to-earn model into question. Assessing the failing economy of the game, the creators of Axie Infinity have decided to introduce changes designed to bring the game economy back to life.

The prime change is related to SLPs where the game will reward fewer SLP tokens. Moreover, the game will focus more on online arena battles and their rewards. The changes will go live with the game’s 20th season on both mobile and PC.

As of now, Axie Infinity requires a player to buy its NFT assets which are known as Axies. To begin playing the game, a player needs to buy at least three of these NFTs. The player then earns by breeding and battling monsters which yield token rewards.

The P2E model of Axie Infinity also resulted in community-based scholarship programs. These scholarship programs worked in third-world countries where NFT asset holders rent Axies to players in return for a cut in token rewards. This scholarship program also played a massive role in Axie Infinity’s success last year.

Axie Infinity changes its economic system
Axie Infinity changes its economic system

However, the momentum quickly took a plunge, and the game’s token SLP decreased below $0.10. The falling value of the token put a massive strain on the scholarship guilds.

Moreover, AXS also plunged nearly 70% when compared to its peak value. Its NFT trading volume decreased from $754 million in November to $301 million in December.

And to top it all off, Sky Mavis’ data shows a drop in concurrent players from a peak of 2.7 million in November to 2.2 million at the end of January.

Every day the latest video game news about the gaming industry. Video games news on NFTs (non-fungible tokens, NFT, NFT’s) , Play to Earn (P2E/Play-to-Earn), crypto games and crypto currencies, gaming guilds, Metaverse, VR, AR, AI, Virtual Worlds, Avatars, Digital Assets, In-game digital currencies, Web3 development, Blockchain based video games and its transactions and payments in the games.

Entertainment and all the big tech companies and technology behind it. Hyper Casual Games and the game studio’s that lead the way. Mobile games, PC games and Console Games and their vision on cloud gaming, streaming, esports and gamer communities. Online digital entertainment like movies, music, concerts, art and top brands such as fashion and much more that connect with video games in the metaverse.

If you want to stay up-to-date of my daily game news, then follow me on Google News.

Want to stay updated about Play-To-Earn Games?

Join our weekly newsletter now.

See All
Xai Foundation Launches "Xai Vanguard: Genesis Activation"

Xai Foundation Launches "Xai Vanguard: Genesis Activation"

Unveiling the Next Wave in Blockchain Gaming: Xai Vanguard: Genesis The landscape of gaming is on the brink of a revolutionary transformation with the launch of the Xai Vanguard: Genesis event Set to commence on June 10th and stretching through November, this monumental event aims to redefine the gaming experience for the blockchain-centric Xai community Packed with fresh game titles, enticing quests, and a plethora of achievements and rewards, Xai Vanguard: Genesis is poised to captivate gamers and blockchain enthusiasts alike The Genesis of a New Era in Gaming Building upon the success of last year’s Xai Odyssey campaign, which saw significant engagement and impressive statistics, Xai is back with its Vanguard: Genesis activation Unlike its predecessor that was piloted on the Xai testnet, this initiative takes a giant leap as it unfolds on the Xai mainnet, marking a pivotal chapter in Xai’s journey...

Read more
Unity Integrates Emergence SDK for Interoperable Gaming Future

Unity Integrates Emergence SDK for Interoperable Gaming Future

Unity x Emergence: Gaming’s Inevitable Interoperable Future The landscape of gaming development is on the brink of a revolution, with interoperability at its core The emergence of the Emergence SDK on the Unity platform marks a monumental shift towards a more inclusive and collaborative gaming environment This innovative technology brings groundbreaking possibilities, enabling game creators on Unity to seamlessly integrate interoperable avatars, inventories, crypto wallets, and player personas using blockchain The process is not only straightforward but also minimizes development time, opening the door to a new era of gaming innovation The influence of the Emergence SDK transcends beyond the developers, ushering in a new dawn for gamers...

Read more
Guide to Off-Grid Living: What We've Learned So Far

Guide to Off-Grid Living: What We've Learned So Far

Introducing "Off The Grid": A New Era of Battle Royale Games Prepare to dive into "Off The Grid" (OTG), the upcoming cyberpunk-themed Battle Royale that is set to redefine the genre with its innovative gameplay and compelling narrative Launching in 2023 on PlayStation 5, Xbox Series X|S, and PC, OTG is powered by the advanced Unreal Engine 5, promising a visually stunning and immersive experience that will captivate gamers around the globe Gameplay Mechanics & Storyline Insights In OTG, the gameplay is meticulously crafted to ensure each match offers both freedom and a chance for narrative advancement With support for up to 150 players, the game will feature both PvP and PvE elements on the same vast map This unique blend will offer players the liberty to influence the game’s story, making their choices essential to the gameplay experience...

Read more

Play To Earn Games: Best Blockchain Game List For NFTs and Crypto

Play-to-Earn Game List
No obligationsFree to use