Cover-Credits:
One of the most popular Non-Fungible Token (NFT) games, Axie Infinity, was reportedly losing its player base even before the Ronin Network breach back on 23rd March 2022. According to a report from Bloomberg, the decline in the player count was noticeable since December and went lower after the crypto heist in its Ronin Network. The crypto heist cost Sky Mavis, the developer behind the Play-to-Earn game, to lose around $600 million USD worth of cryptocurrency, resulting in players being restricted from withdrawing their funds. Despite this, Sky Mavis is hoping to regain the trust of its players, more notably so with its Axie Origin update slated to release very soon on 7th April.
Axie Infinity is losing its momentum since last year
The number of daily active users in Axie Infinity has dropped from around 2.7 million peak users in November 2021 to 1.5 million peak users on 28th March 2022.
One of the reasons for the dip in player count may be due to a market sell-off back in December 2021, according to Bloomberg, which caused the value of Smooth Love Potion (SLP) to drop. Additionally, in February 2022, the Economic Balancing update removed SLP rewards after clearing adventure mode and daily quests. This update lowered the daily earnings of players, many of which were against the changes. Following this, the Ronin Network was breached in March 2022 which may have seeded mistrust amongst its players.
SLP is the main currency in the game which can be used to upgrade Axies or purchase lands. The currency can also be converted to real-world money through the Ronin Network.
The investigation is currently ongoing and Sky Mavis assured players that it would recover and reimburse all of the stolen funds. However, the developers are yet to provide an update on when the reimbursement will occur.
The Axie Origin update may revitalize the game’s popularity
The upcoming Origin update will be one of the biggest updates for the game as it adds more game-play elements alongside providing free starter Axies for players looking to try the NFT game before considering to invest in it. The update is scheduled to be released on 7th April.
The Axie Origin update may entice players to keep playing the game. However, Sky Mavis may have to be more transparent in how they will reimburse the stolen funds or risk losing the trust of its players, which may further contribute to the decline of its player base.
