Author: Mero Y.

Axie Infinity ‘Play to Earn’ Future in Doubt, Value of Earned Currency ‘Smooth Love Potion’ Collapses from $0.35 to $0.01 Over 6 Months

Play to Earn monster battling game Axie Infinity’s currency plunges 97% in 6 months, hurting player incomes drastically.
Axie’s governance token (AXS) also declined 70% in value during the same time period.
Game’s land prices remain high at a foor price of $8,000

Play-to-earn MMORPG Mir 4 hit over 1 million peak concurrent users worldwide and over 2 million monthly active users.
Mir 4 has more concurrent players than World of Warcraft and Final Fantasy XIV combined, demonstrating the power of play-to-earn.
Mir 4’s popularity has only increased since this 1 million figure has been reported.
Play-to-Earn blockchain MMORPGs are the future of MMOs.

Mir 4, the play to earn fantasy MMORPG, is launching its own NFTs later in September, 2021
NFTs look to have some kind of utility as slogan for them is “Mint, Trade, & Play.”
The NFTs bill themselves as “The world’s first NFT of commercially successful online games”

The 100 Slimes NFT Collection from MMOs.com sold out in 1 hour 15 minutes.
The collection celebrates MMORPGs as slimes are an iconic character in various MMOs including MapleStory and Ragnarok Online
The NFT collection was priced at $0 but buyers had to pay GAS fees on Ethereum (which average $80-$125$)
Over 10 Eth of resales since launch on September 8 with one slime going for 0.5 Eth ($1,700)

Axie Infinity, the most popular play to earn game, reached a market cap of $20 billion (fully diluted)
This $20b figure is larger than the market cap of one of the most iconic gaming companies, Take-Two Interactive (makers of Grand Theft Auto V, Red Dead Redemption, and more).
Given its rapid rise in value, Axie tokens could be worth more than Nintendo ($66b), Activision Blizzard ($63B), in the next few years (if current trends continue).
Axie has risen 25x since June 22, 2021 when it was $3 and is now $75