Play-to-earn games have attracted tremendous attention in 2021 and 2022. However, early movers like Axie Infinity have fallen victim to low demand for its native currency as interest in the game dwindles. Tora Inu has a forward-thinking mindset to alleviate those concerns and become the next big play-to-earn hit.
Many people struggle to remember when Axie Infinity (AXS) traded above $30. That is not entirely surprising, as the native asset of the popular play-to-earn game has fallen on very hard times. It peaked at $164.9 in November 2021 and collapsed to $8.36 by late September 2022. The continual decline of AXS paints a bleak picture for the P2E title, and it remains uncertain if demand picks up again.
Although all crypto assets have seen similar declines in 2021, overall interest in Axie Infinity (AXS) remains low. It is no longer in the top 3 of decentralized games, yet it still records over 175,000 monthly active users. That is a nearly 30% decline compared to the prior month. Some of that may be due to Axie Infinity launching a free-to-play version of its game – called Axie Infinity: Origin – which doesn’t require an upfront investment.
At the current rate, it is a matter of time until Axie Infinity loses more players. That will drive down the value of AXS even further, along with Smooth Love Potion (SLP). That latter asset, used to upgrade in-game characters, has lost over 99% from its all-time high since July 2021. Things look bleak for Axie Infinity overall, even if the token has surged by over 10% in the latter half of this week.
Dwindling users means lower demand for AXS and a skewed supply-demand ratio. It is a common pitfall among the first generation of play-to-earn games, as most titles suffer from an unsustainable economy. Axie Infinity needs to make drastic changes to ensure people retake notice of AXS and see its utility rather than its monetary value. Thankfully, Tora Inu plans to show how one should do things.
The next generation of meme coins will also rekindle global interest in P2E games. Tora Inu (TORA) prioritizes sensible tokenomics, including a constant token burn and redistribution mechanism to ensure its supply is deflationary. A scarcer asset tends to appreciate over time, and every small token burn – taxed on every transaction – will bring that goal one step closer.
The deflationary nature of TORA will be beneficial to play-to-earn games. More specifically, it is a play-to-earn ecosystem that continues to reduce the token supply as it builds momentum. There will be a dedicated play-to-earn game, NFTs, a metaverse, and novel tokenomics.
Unlike Axie Infinity, which many players do not classify as “enjoyable”, Tora Inu’s P2E title will let players tap into a revenue stream by having fun and entertaining themselves. Users will need a Tora Inu NFT to battle in the game, which will level up after completing mini-games. Every victory is subject to ecosystem rewards – and the reward transaction will further reduce the TORA supply.
Other steps to reduce the supply include pursuing tier-1 exchange listings. In addition, a first CEX has been onboarded, although the team will keep details under wraps until the token officially launches. That liquidity and exposure will bring more attention to Tora Inu, its play-to-earn ecosystem, and the shrinking $TORA supply.
Always conduct proper research when dealing with pre-sales of currencies and tokens. The information above does not constitute investment advice by CryptoMode or its team, nor does it reflect the views of the website or its staff.
None of the information on this website is investment or financial advice and does not necessarily reflect the views of CryptoMode or the author. CryptoMode is not responsible for any financial losses sustained by acting on information provided on this website by its authors or clients. Always conduct your research before making financial commitments, especially with third-party reviews, presales, and other opportunities.