Axie Infinity Revenue Continues To Collapse – Here’s Why

Axie Infinity, a blockchain-based play-to-earn game, generated a measly $988,400 in total revenue the previous week, which is the first time that the popular P2E game that allows you to earn SLP coins, amassed lower than 1 million since February 2021. From an hourly standpoint, AXS price has spiraled down by 1.69% or roughly $0.35 compared to values from an hour ago. This looks like a reversal from the previous results, showing the price moving up. Today, the AXS price is down by 0.87% or $0.18 from yesterday. This reverses the price movement that transpired the previous day, which registered an upward trend. The 100-hour time frame proves to be most consistent, showing a bearish or downward trend. Suggested Reading | Bitcoin Market Cap Shed Over $120-B Last Month – How Much More Can It Lose? Axie Infinity – Still The Most Popular P2E? Axie Infinity, the most popular P2E, has seen a trailblazing success in 2021. Axie Infinity managed to generate over $215 million at its peak fame on August 8, 2021. Additionally, Sky Mavis, the game’s creator, has also procured over $152 million in funding or a valuation of $3 billion in a funding round headed by Andreessen Horowitz. However, things went through rough spots as the game dropped in November 2021 due mainly to its burn mechanism and imbalance of issuing SLPs. BTC total market cap at $862 billion on the daily chart | Source: TradingView.com There was an overload of ...