Axie Infinity is one of the most popular play-to-earn games ever powered by blockchain. However, from its peak in January 2022, its brilliance has significantly faded. After that, a sizable 2.78 million players per month on average came to the game. However, the current figure of 359,254 average monthly participants represents a sharp fall of more than 87%.
Dramatic 87% Drop in Average Monthly Users for Axie Infinity
Since January 2022, the play-to-earn blockchain game Axie Infinity has seen a significant drop in its average monthly users. Axie Infinity drew 2.78 million users per month on average at that time. This number decreased to 958,044 by June 2022.
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| average monthly players for Axie Infinity. |
There were about 766,804 monthly users in July 2022 after a drop of about 191,240 users the following month. Activeplayer.io statistics show that Axie has not crossed the 400,000 threshold or fallen below 340,000 since February 2023.
The non-fungible token (NFT)-based game was initially released on the Ethereum platform. The game's creators, Sky Mavis, created a layer two (L2) chain called Ronin to expand. All Axie NFTs switched from Ethereum to Ronin by April of the following year, after the Ronin rollout was complete in February 2021.
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| stats from Axie Infinity's TVL. |
Axie has recorded $4.28 billion in NFT sales across 20.32 million transactions, despite a decline in monthly users. The total value locked (TVL) on Ronin, according to data from defillama.com, has significantly decreased. Ronin's TVL reached a peak of $1.487 billion on December 3, 2021, but it has since dropped to $61 million.
Axie infinite (AXS) and smooth love potion (SLP), the project's native cryptocurrencies, have fallen 97.13% to 99.65% from their all-time highs. AXS experienced a monthly decline of 1.3% but a weekly increase of 4%. In the meantime, SLP declined 2.2% against the US dollar over a 30-day period. On September 16, 2023, SLP is ranked 351 out of more than 10,000 coins, while AXS is ranked 61.
Since the game's currency was introduced, more than 99% of AXS investors have experienced losses. The number of unique active wallets on Axie has decreased by more than 14% during the last 30 days, which isn't much better. The number of transactions this month is down 6.53% from last month.
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| Dappradar metrics for Axie Infinity and its particular active wallet count. |
The project's results are dismal, showing a volume decline of more than 43%. Although Call of Duty's mobile app had nearly 57.9 million players in August, 359,254 monthly players is still impressive. According to this, Call of Duty had roughly 161.3 times as many active users each month as Axie.
What are your thoughts on Axie's decline since the project's height? Post your ideas and viewpoints on this topic in the comments area below.