After only 2 months, Axie Infinity gamers lost nearly 90% of their profits

The dream of getting rich for many Axie Infinity gamers has been shattered.

True to some previous predictions, the NFT game Axie Infinity had a very fast decline. After just over 2 months, the profits of Axie Infinity gamers have dropped by nearly 90%. This is the number that makes many “last” people investing in this game in a dilemma.

According to an update from Binance (the world’s largest Crypto exchange), the value of the SLP coin (the reward token in the Axie Infinity game) has lost 87% of its value after just 2 months. From the peak of $0.41/dong (established on July 13), SLP has dropped miserably to only $0.0551/dong (updated on September 21).

SLP coin has lost nearly 90% of its value in just 2 months

It is known that to be able to participate in Axie Infinity, gamers will have to spend money from a few hundred dollars to buy the first 3 pets. This number can be up to several thousand USD (hundreds of millions of VND) if you want a stronger, better squad. The high or low pet price will depend on the value of the AXS coin in the crypto market. In the context of AXS growth like the time of July – August, the players who entered later had to spend huge amounts of money to join this game.

To recover capital and earn money from the game Axie Infinity, gamers will have to focus on completing in-game tasks to earn rewards in SLP tokens. Then will bring the SLP to the exchanges for sale. In the time before the SLP price was very high (sometimes up to $0.41), gamers could recover their capital easily and quickly make a profit.

However, in the context that SLP has depreciated by nearly 90% in the past 2 months, the amount of money that gamers earn has dropped seriously. Not only that, the price of pets (Axies) is also sliding downhill. At the time more than a month ago, gamers would have to spend about $ 1000 (~ VND 24 million) to buy a relative team. Now if liquidating these pets, players only get back about 1/3 of the original value.

The dream of getting rich for many Axie Infinity gamers has been shattered.

The capital has been in a severe deficit, the revenue generation is increasingly meager, now many gamers who have invested in Axie Infinity are in a dilemma. The day of “coming to shore” is getting farther and farther, while if you sell at a loss, you will lose a significant amount.

Not only that, the game Axie Infinity also takes a lot of time to “plow and hoe”. In the context that social distancing forms are gradually loosening, production, trading, studying and working activities are returning to normal, it is not easy to spend too much time playing games. Without playing, there will be no SLP to recover capital.

The difficulty is on top of the difficulty. The idea that Axie Infinity will be an opportunity for everyone to make a lot of money from the new NFT game genre. But the reality is not so rosy. Money just moves from one person’s pocket to another. The “rich” few leave the vast majority with empty pockets.

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