Axie Infinity Revenue Continues To Slump, Dropping Below $1 Million For The First Time Since February 2021 | Axie Infinity

Blockchain-based game Axie Infinity brought in just $988,400 in revenue last week – it’s the first week the game’s “play-to-earn” (P2E) has registered less than $1 million since February 2021.

Axie, the darling of the P2E world, saw a meteoric rise in popularity over the summer and early fall of 2021. At its peak, the game racked up over $215 million during the week. of August 8, 2021. In October of the same year, Sky Mavis, the creator of Axie, had even reached a valuation of 3 billion dollars after a funding round of 152 million dollars.

But as the chart above shows, Axie Infinity has been in steady decline since November 2021. Sky Mavis has been unable to continue its rapid growth due to an unbalanced issuing and burning mechanism for game tokens from Axia.

Too much of Axie’s token, Smooth Love Potion (SLP), was issued without it being possible to destroy or burn the token. This led to inflation which caused the token to lose value, deterring players from continuing to use the game. expected effects. THE AXS token also continues to fall towards $20, a long way from the $150 of last November.

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