- Low SLP prices may make P2E enthusiasts give up on the game.
- Axies will now be sold for SLP with no need to swap beforehand.
Axie Infinity’s team is preparing a new feature for the NFT marketplace. Until recently, users had to go through an exchange and secure Wrapped ETH (WETH) in their wallet before buying Axies. Now, the exchange will be implemented in the background, using the newly relaunched Katana exchange.
For now, the Katana exchange has managed to recover its functions partially after the Ronin network hack. There are no explicit news of backing the WETH with Ethereum, which is the chief source of value for the coin.
Axie Infinity is still in between seasons, mostly dealing with Origin issues. The new update has been tested for free for a few days now, showing significant interest in downloads. This is encouraging for Axie Infintiy, which hopes to renew its high player count.
Axie Infinity attracted more than 50K players per day during earlier seasons in 2021, but that number fell to around 20K during Season 20.
The new marketplace rules come at a point where Axie Infinity is also available as a free-to-play game with no need to invest in Axies. The playable character NFTs are so numerous they don’t even have a valid floor price.
Axie Assets Struggle to Preserve Price Positions
Outside the season, AXS sank to $48.00, with no clarity on the value of the token for eventual land-based gameplay. Smooth Love Potion (SLP) recovered slightly to $0.017, but is still considered the worst feature of the Axie game. There are also worries SLP may slide even more if it is automatically sold for WETH to be used in Axie purchases.
RON, the native asset of Ronin, stepped back to $1.65, while still remaining illiquid and not easily available to crypto traders.
After months of being a top game, Axie Infinity is again met with increasing skepticism. The game’s rewards are now much lower both in terms of SLP awarded per team and in market prices. The Ronin network loss of close to $630M also contributed to doubts about the game’s P2E viability.
Despite this, the game model may continue to attract users with a game-first approach and no need to grind out rewards.