Trying to pin down just how popular blockchain-powered video games are is still a bit of a head scratcher. But by just about any measure available, it appears the hotly-hyped, play-to-earn crypto game Axie Infinity is waning in popularity, and that's despite a soft launch on Apple’s App Store in mid-May.
Instead of adding new gamers, Axie Infinity has lost more than 6,000 users in the past 30 days, according to the gaming data site Activeplayer.
Crypto researcher DappRadar appears to second the decline, publishing statistics showing the number of digital wallets engaging with the game have decreased by about 19%, also during the last 30 days. Transaction and trading volume are also both down about 30% during the last month, according to the site.
Another data source found on Dune Analytics paints a picture of meager growth, with the Axie Infinity dashboard suggesting that the game's total user numbers have grown since the May launch, but by less than 7,000 gamers. And that is with the game becoming available to iPhone users in new territories including Argentina, Colombia, Peru, Mexico, Venezuela, Indonesia, Malaysia and Vietnam.
Sky Mavis, the game's developer, did not immediately respond to a request for comment.
New beginning stalls
Nearly two months ago, Sky Mavis announced that the latest iteration of its game, ‘Axie Infinity: Origins,’ was launching on Apple’s App Store in select nations throughout Latin America and Southeast Asia. Sky Mavis hoped it would be a major step toward not only adding more users and going mainstream but also help the company shed its reliance on its main market, the Philippines.
While it does not track how many users are playing or have downloaded Axie Infinity, CryptoSlam! data is also able to provide insight into the game’s popularity by tallying the trading volume created by players buying and selling the in-game NFTs. In June, Axie Infinity NFT trading sank to $1.4 million from $2.1 million in May, according to CryptoSlam!.
At its height during the pandemic Axie Infinity monthly trading exceeded $700 million in single month.
© 2023 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.