- Axie price falls as low as $5, land plots may be more promising.
- Sky Mavis builds new offices, game activity remains high for free version.
Axie Infinity took months with peak NFT item valuations. In fact, the game remains one of the most traded collections, achieving some of the highest valuations for rare items. Reselling Axies could fetch significant income for early adopters.
Now, the floor price of Axies has fallen as low as $5, meaning players can build teams more easily. However, the game’s potential earnings are also near rock-bottom, making the purchase of a team just a hobby expense. The Axies may still have collector’s value in some cases, especially those that are first-generation or of high type purity.
Most Axie activity was concentrated in the Philippines, also leading to higher NFT activity.
With the drop of value, more Axies are being given away. Previously, some Axies were inaccessible, leading to higher demand for scholarships.
Axie Land May Boost NFT Trades
Land valuation in Axie Infinity will show significant disparities. Some of the high-priced plots with higher potential returns have recently resold for as much as 130 ETH.
Land may also become a significant source of earnings by flipping, at least during the initial hype. Axie activity continues on Origin and remains relatively high despite the fall in earnings. So land, where most activity happens, will produce revenues over time.
New tools can be used to gauge the value of metaverse land plots for Axie and other games.
Land sales for Axie Infinity arrived back in 2021, when top land plots traded above $660K. However, the actual use case for the land is still in development.
Sky Mavis Builds New Offices
Despite the setbacks in Axie Infinity earnings, Sky Mavis recently revealed it is expanding its offices.
The game builder remains highly active, even after contributing some of its funds to cover losses from the Ronin-ETH bridge hack. Sky Mavis is currently building Origin to its full capabilities, while also bringing in mini-games from third parties to make use of existing Axies.
AXS, the game’s voting token, stabilized around $19.13, while Smooth Love Potion (SLP) remains at $0.005 and is behind the extremely low potential monthly earnings from regular gameplay. Tournaments and special events may have higher prize pools, still encouraging players.