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Number of Axie Infinity players drops: It is now back at January 2021 levels

Axie
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Axie Infinity was the most popular metaverse game by a long shot for months, but according to the recent game statistics from the website called Activeplayer, this appears to be changing. The project has recently had the lowest count of active monthly players in over a year and a half, currently back to January 2021 levels.

The project saw its peak around January 2022, when it had 2.78 million active players in a single month. However, as the year progressed, the number of active players per month dropped, reaching 1.2 million in June of this year. Now, that number has dropped to 701,447

Why is Axie losing players?

There are several potential reasons for the current state of things regarding Axie Infinity. Obviously, the crypto industry has been suffering massive price drops for almost a year now, ever since crypto prices started crashing in November 2021. However, this is not the only reason, as the game mechanics are also believed to have played a role in players losing interest.

Particularly when it comes to how much players get to earn from this Play-To-Earn (P2E) game. The P2E model is one of the biggest reasons why people are attracted to blockchain games right now, and at this time last year, many players from developed countries have been making massive earnings — usually higher than minimum wages in some countries.

But, the price drop that has dominated 2022 has caused the price of Axie’s in-game rewards token, Smooth Love Potion, to drop by over 95%. Meanwhile, the circulating supply has gone from 2.4 billion to around 40 billion during this same period. The reason for this is simply the high volume of new players who saw the opportunity to easily make some money by playing the game. The increase in the supply, combined with the drop in prices, has made the token even less valuable.

Axie NFTs see a drop as well

November 2021 was the month when crypto prices crashed, but it was also the time when the Axie NFT market saw 2 million tokens bought and sold. In total, that was around 140,956.7 Ethereum or $639.5 million at the time.

Of course, these figures have dropped since, as well. Right now, Axie is seeing around 311,300 Axies sold, with the value now being at $5.37 million, or 4,143 ETH in the last month. Axie Infinity is not the only project to see its NFTs impacted so negatively, of course. The drop is consistent with the general drop in the NFT sector.

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