If you are an esport fanatic, you probably noticed that Axie Infinity, an NFT-Based video game, turned out to be neither perfect nor helpful to the gamers due to the play-to-earn concept. The game is made by Sky Mavis and has attracted many gamers from all corners of the world. Gamers who win earn SLP and AXP, which are digital tokens traded for cryptocurrency, and converted into fiat currency.
Most people in developed countries who opted for this game to make money can now smell disaster in many ways. But before we look at why Axie Infinity is crumbling, let’s look at how it works and how people make money in the game.
Axie Infinity and How it Works
Before you start playing this game, you must have at least 3 Axies and the main characters used to play. The Axies are players’ digital pets, and the main objective of every match is to eliminate all your opponents (three). You must be creative in utilizing the digital pets to win a match. Axie Infinity usually matches last at most five minutes.
While the main aim of joining the game is to play and earn money, it is challenging to say the least. The finest players who win earn SLP at lower levels and AXP at higher-level tournaments. AXP and SLP are digital tokens players traded in cryptocurrency and later can be converted into currency.
Players can also breed Axies and sell them to make money. New players aiming to make more money within a shorter period prefer to buy ‘hybrid Axies’ from existing players. It is worth noting that when more players play the game, the value of SLPs, AXPs, and Axies increases.
What is Ailing Axie Infinity?
It is worth noting that the most significant limitation of the game is that most players join it with the sole purpose of earning money. Though the game is exciting, the financial incentive is a significant consolidating base.
Also, the reduction of active players has affected the game negatively. The reduction of active players has caused the value of a single SLP to drop from O.364 last year to 0.03 right now. Additionally, the value of AXS now stands at $14.08, from $160.36 last year. This drop in the value of SLP and AXP has discouraged many players from joining and playing on the platform.
The cryptocurrency hack on the Ronin Network, where hackers made away $615 million, affected the game negatively. Although Sky Mavis raised money to reimburse users, the hack negatively exposed the shortcomings of play-to-earn esports. Axie Infinity uses Ronin Network, and its players were severely affected by the hack.
Final Words
Active players reduction, SLP and AXS value decrease, and recent cryptocurrency hack have caused the Axie Infinity game to crumble. These issues have affected the future of the game, which seemed bright months ago, but now doesn’t look the brightest. Unless something is done, players can expect the worse.
