Monthly Axie Infinity Revenue Drops Below $10m, NFT Sales Taper Off Further

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Things are getting rather interesting for the Axie Infinity blockchain game. The current market momentum isn’t helping the $AXS price much, but that is far from the only problem. Dwindling monthly revenue remains a pressing problem, as the game is now below $10 million per month. 

Axie Infinity Revenue Dips Further

It almost sounds like a broken record, but Axie Infinity still struggles to generate revenue for its users. That is a problematic development for a play-to-earn game, although it is not too surprising either. The project had a good initial run but is running out of steam with little or no enticing developments to keep players engaged, especially those who are not too keen on forced player-vs-player content for rewards. 

Statistics by Token Metrics confirm things look bleak for the game. For the umpteenth month in a row, Axie Infinity has lost revenue in the past 30 days. Unfortunately, it represents another drop of over 50%, which has become somewhat traditional for the project. Unfortunately, it seems unlike this trend will reverse soon.

Looking at the weekly revenue, the 36.2% decrease shows the revenue loss worsens. Even the daily chart shows a -78.4% change, but that isn’t necessarily unusual over the weekend. There is much competition in play-to-earn gaming today, yet it seems Axie Infinity has lost significant traction. Gaining new players will prove crucial, but that may prove more difficult than one may think. 

Sadly, this ongoing revenue decline puts Axie Infinity below $10 million per month. A weak statistic for a project with a market cap of nearly $14 billion. If these trends continue, it is a matter of weeks until the monthly revenue drops below $5 million. That would put tremendous pressure on the market cap and $AXS value.

SLP Price And Axie Marketplace

The overall revenue problems for Axie Infinity have not made too big of an impact on the Smooth Love Potion price. Although it could not sustain the value of $0.04, the downtrend is primarily due to an overall crypt market dip. It remains unclear if $0.02 will offer more price stability, although that seems rather unlikely. 

Additionally, one might think the revenue generated by the game is problematic, but surely Axies sell well? Per DAppRadar, the Axie Marketplace has a strong monthly increase in users and transactions. CryptoSlam confirms as much, although it, too, notes a strong dip in overall sales volume. Going from 169,000 ETH in sales to 40.465 in January 2022 confirms the momentum isn’t there.

Furthermore, February 2022 will not offer much relief. Its sales to date have yet to surpass $79 million, or 27,000 ETH. The overall number of unique buyers remains strong, but the average sale price has dropped below $75. That was over $285 in November 2021. Slowly but surely, people lose interest in Axie Infinity, yet it remains unclear if the developers can turn the ship around. 

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