Axie Infinity is among the first play-to-earn gaming ecosystems. Since its release in 2018, Axie Infinity has become one of the most popular and most played blockchain games. However, over the past year, several issues surrounding the platform have led to it being just a shadow of its former self.
Axie Infinity NFT sales crash
Axie Infinity was among the first gaming ecosystems that adopted collectible and tradable non-fungible tokens (NFTs). However, the blockchain game has failed to maintain the interest of the existing gamers, and it is also failing to attract new players.
The loss of interest in this game has resulted in a plunge in monthly sales, which are now below $10 million. The declining numbers are not the only thing that is plaguing Axie Infinity. Earlier this year, Axie Infinity was the victim of a $600 million hack.
It is not surprising that investors have been reluctant to invest in the game since the hack happened. In the web 3.0 & crypto sector, reliability and security are core factors that investors analyze before deciding to invest in a project. The vulnerability of AXS has raised questions about the game’s infrastructure.
Additionally, Axie Infinity’s reliance on NFTs has also resulted in its tokens suffering a blow because of the bear market that has persisted since the beginning of the year. Nearly every corner of the cryptocurrency market, including NFTs, has plunged. In January, NFT transaction volumes hit a peak of $16.54 billion, dropping to around $4 billion in May.
The adverse events surrounding the Axie Infinity game have also resulted in a plunge for the AXS token. Like most tokens in the market, AXS has lost a lot of value this year, dropping by around 91% from its all-time high. At the time of writing, AXS was trading at $14.06 after another 4.2% decline within 24 hours.
As the crypto market continues with a pessimistic trend, the future of AXS remains uncertain. Earlier this year, several developments, such as a sequel of Axie Infinity Origins, built momentum for the token, but the hype has quickly faded.
However, the failure of Axie Infinity has provided notable lessons for future crypto games developers. One of the new blockchain gaming ecosystems that are setting itself apart from others is Battle Infinity.
Battle Infinity is a better bet than Axie Infinity
Battle Infinity has become one of the best P2E coins to invest in despite the ongoing crypto winter. Battle Infinity is a crypto gaming platform where players can explore a 3D metaverse world.
Players within the Battle Infinity ecosystem can play against each other, after which they can earn rewards depending on their skill levels. Like any other P2E gaming ecosystem, Battle Infinity rewards players through the platform’s native token, IBAT.
One of the top products by Battle Infinity is the IBAT Premier League. The fantasy sports league allows players to bring teams together and then compete for points depending on the clubs they have chosen and the actual standings of those clubs during the regular season. The teams that garner the most points will go up the ranks, after which they will be eligible for IBAT rewards.
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