Things are getting interesting for the Axi Infinity blockchain game. The current market momentum is not helping the $AXS price much, but it is far from the only problem. The decrease in monthly revenue remains a serious problem, as the game is now below $10 million per month.
Axi Infinity revenues fall further
It almost sounds like a broken record, but Axie Infinity is still struggling to generate revenue for its users. This is a problematic development for playing games for money, though it’s not too surprising. The project had a good start, but is running out of steam with little or no enticing development to keep players engaged, especially those not keen on the rewards-forced player-versus-player content.
Token Metrics figures confirm that things look bleak for the game. For the fifteenth month in a row, Axie Infinity has lost revenue over the past 30 days. Unfortunately, this represents another drop of over 50%, which has become somewhat traditional for the project. Unfortunately, it looks like this trend will soon reverse.
Looking at weekly revenue, a decrease of 36.2% suggests that the revenue loss is worsening. Even the daily chart shows a -78.4% change, but not necessarily unusual over the weekend. There is a lot of competition in the earning game today, yet Axi Infinity seems to have lost significant traction. Getting new players will prove important, but it could prove to be more difficult than one might think.
Sadly, this ongoing revenue decline puts the Axie Infinity below $10 million per month. A weak figure for a project with a market capitalization of around $14 billion. If these trends continue, it is only a matter of weeks until monthly revenue falls below $5 million. This will put tremendous pressure on the market cap and $AXS value.
SLP Prices and Axi Marketplace
The overall revenue problems for Axi Infinity didn’t have much of an impact on the price of the Smooth Love potion. Although it could not sustain the value of $0.04, the downtrend is mainly due to an overall crypto market dip. It is unclear whether $0.02 will provide more price stability, although it seems unlikely.
Additionally, one might think that the revenue generated from the game is problematic, but surely the Axis sell well? According to DAppRadar, there has been a huge monthly increase in users and transactions on the Axie Marketplace. Cryptoslam confirms as much, however, it also notes a strong drop in overall sales volume. The move from 169,000 ETH in sales to 40.465 in January 2022 confirms that the momentum is not there.
Also, February 2022 will not provide much relief. So far its sales have not crossed $79 million or 27,000 ETH. The overall number of unique buyers remains strong, but the average selling price has fallen below $75. It was up from $285 in November 2021. Slowly but surely, people have lost interest in Axi Infinity, yet it’s not clear whether the developers can turn the ship around.
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