January Axie Infinity Economy Update
GamerSpeak’s Monthly Newsletter Covering Key Details and Observations about the Axie Infinity Economy and Community
This newsletter will be a form for our team to talk to our community while sharing key details in the Axie ecosystem that are important for our future as a guild. This is our way of giving back and helping everyone in our ecosystem stay up to date.
🔥 Axie Releasing 🔥 All Aboard the Lunacian Express!
Axie Infinity New Burning Mechanics: Success or Failure?
With the price of SLP falling to new lows, Axie Infinity’s hand was forced to try new ways to create value for their users while also introducing new burning mechanics. Although the price of SLP continues to fall, this mechanic is a promising first step in the numerous ways economic sinks will be utilized.
When you release an Axie, you receive 1 LNY item and three raffle tickets. There are 5 items you can receive, 3 commons and 2 rares. The raffle tickets will be used to earn you a chance to win 5 legendary AOC tokens which are used to roll a mystic Axie part, one mystic item, and two epic ones!
At the time of writing, 84,438 Axies have been released and 32,314 people have participated. Participants are hoping for the opportunity to receive an item worth more than their floor Axie, valued currently at $40. The event ends on February 20th.
Axie Infinity Builders Program!
Creating the First Steps To Infinite Games
From its inception, Axie Infinity has stated that they are looking to create a game with multiple games within their universe. According to their White Paper, there are and will be many varied games experiences for Axies. The Lunacia SDK will initially be a map editor where players can use Axie Infinity art assets to create games and other experiences. Individuals who hold the land asset will be able to create and charge for games within the Axie infinity universe.
They are starting to think about how their future games can positively affect the Axie Infinity economic future. The projects that they will endorse will have to follow strict economic and monetary rules. They state that at least 10% of all revenue must be burned (SLP) or go into the community treasury (AXS).
They have listed three of the following economic models for creators to follow: Entry fee-funded prizes, Leaderboard winners, and New Tokens/NFTs.
Axie Infinity will provide content creators with a minimum $5k grant in AXS to go towards their project. They will have a total of 5,000 AXS (~$400k) in grants available for this program as it currently exists.
Season 20 Balancing Buffer Period - by Axie Infinity
Balancing Strategy: Gameplay & Community Focused
For the first time, Axie Infinity has made changes to the card balancing in the middle of the off-season. Furthermore, they have added new changes after their initial changes, as the data came in from the past card balancing. This is a great first attempt to make the upcoming season 20 as fair as possible. This made many community members happy.
In the past seasons, the developers would release changes at the beginning of the season where players and managers had to quickly adjust their teams and breeding and buying strategy to find the Meta.
This balance change was the first time Axie Infinity seemed to focus on community input more. On social media, Axie Infinity team members tweeted out a google spreadsheet where community members could submit their versions of what they thought the breeding changes should be.
Finding out the right way to change card balancing is crucial as these Axies are NFT that the owners paid for. The value of their Axie may increase/decrease if their cards change significantly.
January Development Update! - by Axie Infinity
Origin Launch… Kinda?
The next step for Axie Infinity Game is a new game mode, Origin. This game mode will replace their current battle system and add a fresh new spin to the entire game, community, and economy.
The gameplay will be a 180-degree switch from what they have today as seen in this leek video. The developers will introduce a system with fast battles, new animations, new cards, and much more.
The community has been looking for a way to create new growth and introduce a new type of player. These players are mainly those not looking at the game as a source of income. In their article, they state, “Origin will have much easier onboarding than the current experience as players will be able to receive free starter Axies… .” These Free to Play Axies will help onboard millions of new players while also creating a greater demand from gamers looking to play the game for fun.
Origin will also act as a new burning mechanism in the economy as they introduce balancing features such as the vertical progression of Axies.
Retention During $SLP Low
Small Love Potion or $SLP is the lifeblood of the Axie Infinity community. Players win the cryptocurrency within the game that can be translated to their country's currency. The price currently stands at $0.01822, which is a 95.4% decrease from their all-time high of $0.399727 from Jul 13, 2021, 6 months ago.
This major price decrease has directly affected the players and the community sentiment within the game. Figure One shows that although there has been a large decrease in price or financial incentive for players, the retention rate for players past the 30 Daymark still is holding strong above the 30% mark.
This is a significant win for the Sky Mavis team, the group behind Axie Infinity, as it shows that their game has deep roots within their community. Although retention rates have seen a major decrease, this does not mean that players have not left the game due to the lower financial incentives. We can hypothesize that players from countries with higher minimum wages have seen a lower retention rate than those counties with lower minimum wages.
The challenge to increase prices will be put to the test once the team decides to implement new features and new game modes that either create $SLP sinks to increase burning supply or introduce more players that help improve prices.
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