Game-Win (P2E) Game rating Axie Infinity – AXS – Has sunk by almost 30% in the last week.
At press time, according to CoinMarketCap, the AXS had fallen 0.54% to $ 29.96 in the last 24 hours.
According to Decrypt, the current value A sign of governance Represents a big drop for the Axie Infinity, as it was priced at $ 75 per token last month.
When we compare the all-time high of $ 165.37 recorded in November 2021, the current AXS quote represents an even bigger drop of 81%.
While AXS is well known, it is not the only native character in the game.
Users can purchase at Axie Infinity Indispensable Tokens (NFT) Axies, game creatures that resemble Pokemon and fight them with other axes. The user who wins the battle receives Smooth Love Potion (SLP), another token in the game.
In-game SLP tokens have two uses: they are sold in other currencies or destroyed to create new Axies.
Although it was one of the biggest cryptocurrencies in 2021, Axie Infinity was not doing very well this year.
What caused the Axie Infinity to fall?
According to Decrypt, the causes of an accident can be several, for example, a failed “tokeeconomy” and a recent $ 625 Million in Hack Ronin Network (RON)Axie Infinity Side Chain.
However, one factor that can weigh the game down is the massive go-ahead of users.
DappRadar data show that Axie Infinity had 63,000 users at its peak. However, currently the game developed by Sky Mavis has only 12200.
The downward trend in Axie Infinity for Decrypt is largely due to a change in the economic model implemented by Sky Mavis at the time.
Among the changes was a significant reduction in SLP rewards to control token inflation.
Prior to the changes, Axies could be made without limiting the number, and at the same time, more SLP tokens were created than destroyed, complicating how the game could be run in the long run.
Also in late March, a $ 625 million Ronin Network hack rocked Axie Infinity.
While part of the money has been withdrawn and plans for the recovery of users have been announced, the attack belongs to a. Korean hacker group by American officialsHe left a strong mark on the game.
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