![]() Sky Mavis attempted to instill more burn mechanisms into the game, but it does not appear to have had the desired affects. Axie Infinity, a blockchain-based play-to-earn game, generated a measly 988400 in total revenue the previous week, which is the first time that the. This lead to inflation that caused the token to lose value, disincentivizing players to continue using the game. The number of daily active wallets connected to gaming-related contracts has skyrocketed by. Too much of the Axie’s in-game token, Smooth Love Potion (SLP) was issued without ample ways to destroy, or burn, the token. Axie Infinity continues to lead the way with 190.9 million in revenue from decentralized applications. Every time you buy or sell one of the Pokémon-like Axie creatures, the seller pays this fee. ![]() Sadly, this ongoing revenue decline puts Axie Infinity below 10 million per month. Sky Mavis couldn’t continue its rapid growth due to an imbalance issuance and burn mechanism for Axie’s in-game tokens, The Block previously reported. Axie Infinity, however, has several revenue streams that have helped prop up its heady revenue figure. Gaining new players will prove crucial, but that may prove more difficult than one may think. The play to win platform has become the face of a new integration of cryptocurrency and blockchain games that holds unbelievable potential. In October of that year, Axie's creator Sky Mavis had even reached a $3 billion valuation after a $152 million funding round led by a16z.īut as The Block’s data dashboard shows, Axie Infinity has experienced a steady decline since November of 2021. At its peak, the game accrued over $215 million during the week of August 8, 2021. The blockchain-based game Axie Infinity brought in only $988,400 in revenue last week - the first week the play-to-earn (P2E) game has clocked less than $1 million since February of 2021.Īxie, the darling of the P2E world, experienced a meteoric rise in popularity in the summer and early fall of 2021.
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