Just a few weeks ago, Sky Mavis seemed unable to find ways to stem the bearish outlook on Axie Infinity. Small Love Potion (SLP), the game’s utility token, even reached $ 0.01 at one point.
The end was nigh for many scholars, players, managers, and retail investors who were finding ways to cut their losses.
Still, amidst the never-ending memes and the apocalyptic sentime, it was obvious to everyone following Axie Infinity that they were onto something big. After all, the game is the most played within the P2E and NFT gaming space. With dozens of large institutional investors and millions of daily active users (DAU) under their name. Plus, they have huge investments in research and development. It’s clear to everyone in these spaces that Axie plays a massive role in the existence of the thriving ecosystems we have today.
With the latest announcement regarding the new season, there’s nowhere but up for Axie Infinity. The game’s esports arm has been officially announced. Sky Mavis also made changes to the structure of Adventure and Daily Quest responsible for the oversupply. Now the game developers now have more room to focus on rolling out their roadmap.
One of the reasons Sky Mavis had to endure a lot of headaches in recent memory was due to the crash of SLP’s value. While it’s true that there were mistakes in crafting the message along the way, it’s evident Axie has always aimed to be a good game first and foremost. With the earning and economics coming in closely behind.
Even Jeffrey “Jiho” Zirlin, one of the game’s founders and the public face of Sky Mavis, has expressed multiple times on social media that Axie was not for everyone. It was supposed to be a project for those who believed in its evolution and wanted a high-quality game on the blockchain.
Now that Axie has already seen one of its lowest points market-wise and has started to bounce back up the charts, it seems that the game is about to undergo a renaissance. Both within the game and in terms of its economy. The effects might not be felt immediately on the ground. However, given that Binance has recently announced the addition of the SLP/BNB trading pair, it seems that there will be some market-related movements happening soon.
Between the planned features and burning mechanisms for the game in the foreseeable future (and the planned stuff for Axie Origins and the like), one could easily see that there will be a lot of uses for the game’s coins. Which would reduce their supply in the market and increase their demand in-game at the same time.
In addition, the fact that players would only be able to earn SLP (and AXS) if they compete in the Arena will surely increase the viability, stability, and value of both coins due to the sheer fact that it’s not easy to earn them. In the future, there may even be a scarcity. This will certainly have an effect and may increase the value of SLP in one way or another – benefiting everyone in the ecosystem as we advance.
Thus, one should not be surprised that even at this point (take note: Axie has just reduced the minting of SLP on the market), Facebook, Twitter, Discord, and Telegram sees a second deluge of the below phrase that was popularized by the rise of Axie: Good day manager!
Most probably, it’s going to be “long time no see manager!” in the following weeks to come as Axie bounces back from its big-time slump.
Good days indeed wait for Axie Infinity and Sky Mavis. It’s going to be interesting where they bring this project going down the line.