The past week saw an outflow of players from some of the major P2E startups. Even Axie Infinity runs its last Season 21 at half-throttle, with only 11K active players. This is just a fraction of the activity of previous seasons, when more than 150K players were gathered at peak times. Lowered rewards and the fact that games may be more profitable for guilds and not individual players are reshaping the market and bringing new games to the front.
Top Events of the Week
- Undead Blocks Gets Closer to Open Beta Launch
- Play Crabada Moves to Swimmer Network
- Decentraland Opens Game Jam
- Sunflower Land Presents Roadmap
- Crazy Defense Heroes Marks Spike in User Numbers
Leading Games by Number of Users
Top games still cover the hottest spots through WAX and EOS, due to the specific design of those blockchains. User counts still fluctuated. For games like Pegaxy, Crabada and Axie Infinity, user counts are still on the lower side, despite game improvements and future promises. Low token prices make players give up on pure P2E games, but there is still interest in sustainable games with NFT perks and complete metaverse worlds.
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P2E Token Price Action
Weekly Winner: WEMIX +14.49% to $2.05. WEMIX is a small-cap volatile token that was an anomaly this week. The token rallied after this week’s launch of Four Gods on the WEMIX network.
Weekly Loser: Gala Games (GALA) -18.25% to $0.079. The token continued its losing streak, sliding to a lower range despite the promising game and staking mix of the Gala Games platform.
The market cap of all P2E tokens sank to $7.58B equivalent, with another week in the red. P2E games are struggling to keep up the pace, and further slide on the uncertainty of the crypto market. Higher risk means more difficulty in trading tokens, as well as lower interest in P2E assets as a class. At the same time, game growth and development continues, with new launches happening almost daily.
Decentraland -2.24% for the week, traded at $1.05, stabilizing after the big slide from the previous week.
The Sandbox (SAND) – 9.36% to $1.27. The Sandbox recently celebrated a decade since its launch, showing the short-term fluctuations of the crypto market will probably not affect it.
Axie Infinity Shards (AXS) -7.65% to $20.62. Axie Infinity had a rough week, with a hijacked Discord channel offering fake airdrops. The game has a slow Season 21, with around 11K daily users.
Gala Games (GALA) – 17.73% to $0.079. Gala Games is now testing its Town Crush game, broadcasting microtransactions on a new experimental blockchain.
WAX (WAXP) -+2.47%% to $0.12. WAX remains relatively stable as it hosts some of the most active P2E games.
The past week saw assets perform negatively, while the game projects themselves reached multiple milestones. The Play Crabada game is now moving away from high gas fees and the TUS reward token will be destroyed, possibly boosting its market price. The game adds new TUS sinks, such as to replenish Energy Bubbles.