Wednesday, January 19

Axie Infinity: Active addresses drop 76% and NFT deals collapse | Bitcoin Portal


The popular play-to-earn game Axie Infinity will close the year 2021 far from its records, both in the volume of NFTs traded and the number of active addresses.

Data from Nansen that track the movement of Ronin, an Ethereum sidechain created especially for the game, show that the number of addresses active daily on the network has dropped to 262,000, a figure 76% lower than the peak of 1.1 million active addresses on the 19th of November.

Daily active addresses on the Ronin network (Source: Nansen)

The situation is even worse with regard to the number of NFTs handled at Ronin. If in July the community traded just over 19 thousand NFTs every day, on Tuesday (28), the number does not exceed 1,700.

The estimate takes into account the NFTs of ‘Axies’, the characters needed to enter the game, in addition to the NFTs of virtual lands and their special items. The Axies, however, are responsible for most of the transactions.

On December 18, it was the first time in six months that the number of Axies traded per day had dropped to less than 2,000 NFTs.

Volume of NFTs traded on the Axie Infinity Marketplace
Volume of NFTs traded on the Axie Infinity Marketplace (Source: Nansen)

Also according to Nansen, the volume of transactions on Ronin’s official marketplace where the game’s NFTs are traded is also falling.

Over the weekend, daily marketplace volume was just $5.2 million, the lowest level seen since June. The volume is 86% lower than the top of US$ 38 million reached on November 4th.

The number of new Axies generated daily in the breeding system and the number of new Axies holders are also at the lowest levels of the year, a drop that intensified with the arrival of December.

Tragedies in the Philippines could be affecting the game

While it is difficult to pinpoint what prompted such a significant drop in activity at Ronin, it is possible that the recent natural disasters that hit the Philippines have an influence, as the country has the largest number of Axie Infinity players in the world.

The passage of typhoon “Rai” on December 16 devastated the Asian country and caused the death of at least 370 Filipinos, according to BBC. At the same time, around 400,000 people were forced to leave their homes and pause their daily routines, including in the virtual environment.

It was in the Philippines that Axie Infinity exploded in popularity after residents of a small village across the country began using the game and its play-to-earn engine as their main source of income.

After the explosion of adoption in the Asian country, Axie Infinity gained strength in several other developing countries that share similar problems, such as high unemployment, including Brazil.

In the face of the tragedy that hit the Philippines, the global community of Axie Infinity and the schools that rent NFTs soon mobilized to create a support fund. According to the BSC News, around US$ 450,000 has already been donated to the victims of Typhoon Rai.



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