After recording $4.26 billion in total non-fungible token (NFT) sales, the Axie Infinity game’s monthly player count has fallen to levels not seen since November 2020, a period of 26 months. Despite the low number of players, the project’s native token, AXS, is up 62% against the US dollar in the last 30 days.
Axie Infinity’s native AXS token surges 62% despite continued decline in monthly players
Non-fungible token-based online video game Axie Infinity once had millions of monthly players, peaking at 2.78 million in January 2022, according to activeplayer.io Statistics. With January still to end, the last 30 days indicate an average of 432,001 players to date. During December 2022, there were 468,805 players, a low not seen in over two years, since November 2020.
Axie averaged two million monthly players for eight consecutive months between October 2021 and May 2022. After May, the average monthly player count dropped to 958,044, or 1,202,210 fewer players than the previous month. For the next four months, Axie’s monthly player count remained above 700,000, but in November 2022 it dropped to 556,058.
The last month of 2022 and the first month of 2023 also saw dismal numbers. Regarding the historical sales of NFT, the project developed by the Vietnamese studio Sky Mavis has registered $4.26 billion in total NFT sales, more than major NFT marketplaces like Magic Eden, Looksrare, X2Y2, Rarible, and Atomicmarket.
According to data From cryptoslam.io, sales on Axie’s Ronin chain saw a 41% increase in the past 30 days compared to the previous month. Ronin sales over the last 30 days totaled $1,418,842, and Ronin is the ninth largest blockchain in terms of monthly sales this month. The native token of Axie Infinity, AXIShas performed well this month, rising 62% against the US dollar in the last 30 days.
Two week statistics show AXIS it is up 67% against the dollar. On January 22, 2023, AXS was trading at prices between $8.95 and $11.84, gaining 24% as of Sunday afternoon at 4:30 PM ET. AXS is the 42nd largest crypto market capitalization, with a valuation of around $1.31 billion.
Despite the recent uprising, AXIS it is still below its high of $164 per unit on November 6, 2021, and is down 93% since that day. The number of players in the play-to-earn (P2E) game Axie Infinity is significantly lower than some of the most played games today. For example, activeplayer.io shows that Overwatch 2’s monthly active player count was around 23 million in the last 30 days and 23 million during Dec. 2022.
Call of Duty: Mobile Live Player had 58,502,111 average monthly player count over the last 30 days and 58,001,154 during Dec 2022. By comparison, Axie Infinity’s player count is a small fraction of these games with very high monthly player counts. Specifically, Axie’s December 2022 average monthly player count represented 0.81% of Call of Duty’s average monthly player count.
What do you think is the future of Axie Infinity and its native token, AXS, given the decline in monthly players? Share your thoughts on this topic in the comments section below.
image credits: Shutterstock, Pixabay, Wiki Commons, editorial photo credit: activeplayer.io, Axie Infinity, dappradar.com,
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