The monthly player count of the play-to-earn game Axie Infinity has fallen to levels not seen since November 2020, a period of 26 months, despite having sold a total of $4.26 billion in non-fungible tokens (NFT).
Despite the small player base, the project’s native token, AXS, has increased 62% in value versus the dollar over the past 30 days.
Axie Infinity’s Native Token Climbs
Axie Infinity, an online video game that utilized non-fungible tokens, had millions of monthly players in the past, with a peak of 2.78 million in January 2022, according to activeplayer.io statistics.
In the last 30 days, an average of 432,001 participants have participated. January is still ongoing. There were 468,805 gamers in December 2022, a level not seen in over two years, since November 2020.
From October 2021 to May 2022, Axie averaged two million players each month for eight consecutive months. Following the month of May, the average monthly player count dropped to 958,044, a fall of 1,202,210 players compared to the previous month.
For the next four months, Axie’s monthly player count hovered around 700,000, before dropping to 556,050 in November 2022.
The outcomes for the final month of 2022 and the first month of 2023 were comparable in their bleakness.
Regarding overall NFT sales, the project built by the Vietnamese studio Sky Mavis has generated $4.26 billion, surpassing the revenues of prominent NFT markets such as Magic Eden, Looks Rare, X2Y2, Rarible, and Atomic Market.
According to data from cryptoslam.io, Axie’s Ronin chain sales have surged by 41% in the last 30 days compared to the prior month.
Ronin sales hit $1,418,842 last month, making it the ninth-largest blockchain by monthly sales volume. AXS, the native token of Axie Infinity, has performed well this month, appreciating 62% against the U.S. dollar over the past month.
According to data from the past two weeks, the AXS has risen 67% against the dollar. Sunday, January 22, 2023, at 4:30 p.m. Eastern, AXS was trading between $8.95 and $11.84, a 24% increase. AXS ranks 42nd in terms of market value, with an estimated $1.31 billion worth.
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Tokens Keep Going Up Today
Axie Infinity (CRYPTO: AXS) has seen its tokens increase by around 14% over the previous 24 hours, as of Monday morning at 9:30 a.m. ET. Moreover, according to data from CoinMarketCap, Axie Infinity coins have increased by around 37% in the past week. And the timing of these substantial increases is highly rare.
Today, a token is set to be unlocked for Axie Infinity. And one would anticipate that this would have the opposite effect on the price of Axie Infinity tokens.
According to its white paper, the document that explains how everything works, fresh Axie Infinity tokens will be released on a regular basis.
The supply of Axie Infinity will increase from 64.34 percent in circulation to 66.1 percent circulation as a result of today’s unlocking event.
Last Monday, Axie Infinity’s game kicked off the Epic Era, a two-week event in which players can collect tokens from a prize pool of 33,600. So perhaps investors hope that Epic Era will attract gamers.
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