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On Oct. 11, 2022 Axie Infinity announced on their Twitter page about its web3 game, Raylights. It is a land cultivation, decoration, and discovery mini-game that takes place within the Axie Infinity universe. They aim to establish themselves as a leading web3 brand with this kind of games.
Raylights is the first-ever mini-game for the popular PlayAndEarn blockchain game, Axie Infinity. It provides playable utility to community land owners and developed by Finnish game devs.
After the following tweet by Axie Infinity, most of the people do not seem excited about the game launch and even in Axie generally. But this looks like an overarching theme of a gaming platform that experienced a drop in the number of daily active players.
Activeplayer reported that the average monthly number of users engaging in the monster-battle Non Fungible Tokens (NFT) game, Axie Infinity, fell to 701,447, which is a low since January 2021.
Monthly Axie Infinity players topped 2.78 million in January of this year, just before the beginning of crypto market downtown. Then the game lost 1.2 Million users in a single month in June as per the data aggregated by Activeplayer.
Axie Infinity From ‘Rise’ to ‘Fall’
In a way, as Axie Infinity saw a boom in popularity because of its first play-to-earn games to support both NFTs and cryptocurrencies, in the other way Axie Infinity was well-liked to establish a digital ecosystem that was truly distinctive.
But then, Axie Infinity seemed to have fallen short of the high standards that were hoped for it ever since its early hype phase. And additionally, Ronin Bridge’s $600 million exploitation, among other events this year, surely affected the faith in the GameFi ecosystem.
On the other hand, it has been stated that the Axie game needs a significant investment of funds, basically preventing certain types of players from signing up and participating.
Axie Infinity’s AXS Price Overview
The above graphic representation shows AXS token’s price history, since January 2022. This clearly indicates that the asset had been in a downward trend in recent months. Also, with the help of the trend line, a gradual decline can also be seen. Moreover, the price range tool revealed a value reduction of around 90% since the beginning of market downtown.
The current trading price of Axie Infinity is $10.90 USD with a 24-hour trading volume of $42.24 Million USD. Axie Infinity is down 3.40% in the last 24 hours as per the CoinMarketCap and ranking at #54, with a live Market Cap of $905.49 Million USD.
Nancy J. Allen is a crypto enthusiast, with a major in macroeconomics and minor in business statistics. She believes that cryptocurrencies inspire people to be their own banks, and step aside from traditional monetary exchange systems. She is also intrigued by blockchain technology and its functioning. She frequently researches, and posts content on the top altcoins, their theoretical working principles and technical price predictions.
