recovery despite declining NFT sales

The P2E game (play to earn) Axie Infinity (AXS), driven by cryptocurrencies, is again showing signs of improvement, after being hit hard by the price crash in the NFT and P2E sectors. However, NFT sales for the game still declined markedly in May and June.

Source: Twitter / @ Jihoz_Axie

An indicator that the worst may be over is the price level of the AXS token, which has recovered about 10% from the low of $ 11.80 on June 18. Since then, the token hit a high of $ 18.50 on June 25, before falling again in recent weeks.

The stabilization in the price of the AXS token came when Axie Infinity embarked on a transition to what it calls “play and earn”rather than the traditional play to earn.

It turned out that play-to-earn was extremely popular with users as long as the price of used tokens rose. This was especially true in developing countries, where earnings from such games often exceeded the average salary.

But as token prices began to fall, the model’s weaknesses became more apparent and players were left with small gains.

The new Origin version of Axie Infinity is based on this new model of play and earnings, wrote Philip Laproduct manager at Sky Mavisthe game’s developer, in a blog post published on Sunday, in which he addresses what he calls “misrepresentations” around the game.

Sky Mavis is aware of the existence of financial imbalances. Origin was primarily designed to bring this balance by giving players more ways to spend on what they value. The Axie Infinity model will evolve in a way that is not depending on the growth of the players. ” Let write.

He added that he understands that “some players will choose to leave” during Axie Infinity’s transition to “a more sustainable model of gaming and earnings”, but that “core supporters of the game will remain”.

“We have many ways to grow in the future from this strong base,” Sky Product Manager Mavis added.

This positive mood was also shared by Jeff Zirlinco-founder of Sky Mavis, which has declared Last week, sales of Axies – virtual creatures collected as NFTs by players in the game – resumed.

“22,000 units have been sold in the last 24 hours,” Zirlin said, comparing that figure to just 7,000 sales “a few weeks ago.”

He added that Ronin Bridge, which is used to move assets from the Ethereum (ETH) blockchain to Axie Infinity’s Ronin (RON) chain, is now “back”, saying the game’s virtual land, including 90%, is wagered, generating AXS tokens.

The Ronin Bridge was closed for a long time after a hack in March this year, but reopened on 28 June.

Zirlin’s tweet was posted before the data from CryptoSlam shows that Axie Infinity had generated $ 1.35 million in sales of its game-related NFTs on Tuesday over the past 7 days, an increase of 174% from the previous 7 days. The sale was generated by almost 23,224 unique buyers according to the data.

Axie Infinity’s virtual land is traded as NFTs, and sales have risen after hitting a low after the introduction of a new land staking feature on July 1st.

Sale of NFT Axie Infinity since May:

Source: CryptoSlam

Still, Axie Infinity’s NFTs have struggled this year as sales continued to fall in May and June.

Over the past 30 days, Axie Infinity’s NFT sales totaled $ 3.3 million, significantly lower than other popular, non-gaming NFT projects such as Bored Ape Yacht Club and CryptoPunkswhich grossed $ 70 million and $ 50.3 million, respectively.

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