- AXS threatens to dip under $40 on market correction.
- Ronin network may carry sub-games using Axie characters.
- Ronin-ETH funds from hack still moved with attempt to disguise origins.
Axie Infinity is getting ready for its Season 21, just hours ahead of announcing the launch and setting up a new leaderboard challenge. Now, the event has to show whether the game can be sustainable at the current payout balance.
The biggest problem for Axie Infinity remains the tanking price of Smooth Love Potion (SLP). For the past months, Sky Mavis proposed some solutions to burn excess SLP, including usage as a gas fee asset on Ronin, liquidity mining and buying Axies directly with SLP.
SLP is down more than 7% in a day, down to $0.013, raising more questions if playing Axie Infinity would be meaningful at this rate. Still, there are enough guilds with teams at the ready to fill up the leaderboards and take up one more round of rewards.
AXS May Break Under $40
AXS is also down to $40.48, losing another 5% to track the overall dip of crypto markets. RON unraveled to $1.18, possibly leading to more corrections and a lower price range for the game ecosystem. Unfortunately, Season 21 has not sparked oversized enthusiasm, once again leading to calls that the Axie Infinity game model is depleted.
Is the Axie Game Here to Stay
At the same time, Origin continues as free-to-play, possibly with adding a new approach to P2E in the future. Axie Infinity broke ground with the first large-scale P2E attempt, and now other games are taking notes to make their earnings meaningful and their reward tokens to stop dumping.
A significant part of the funds taken from the Ronin-ETH bridge are still at large and moving to new addresses.
No AXS was stolen, and the attempts to sell will affect ETH the most. Still, the game will have to reinvent its earnings proposition.
The Ronin team even added its expectations of evolving Axie Infinity and using its art to go beyond the battler game model. While the price of Axie NFTs has fallen, the appeal of the art and the efforts of Sky Mavis are still supporting the game.
The characters may be used to generate sub-games and create new pools of P2E value with a fairer balance.