I logged back into @AxieInfinity today for the first time in years, just to see if anything had changed. To be honest, I am completely baffled by how, in almost seven years, they still haven't managed to build a healthy, self-sustaining economic loop. We are talking about what was once the most successful NFT game on the planet.
Today, there are over 11 million Axies in existence, and the floor price has tanked to under $0.50. The game is drowning in hyperinflation because fundamental economic levers are being completely ignored:
1. The Missing NFT-Burning Mechanism (The "Sacrifice" Feature)
To rescue the floor price, there needs to be a radical reduction in supply. Why is there no system where players have to sacrifice (permanently burn) 3 to 5 floor Axies to visually upgrade their main Axie or buff it for PvE? The same goes for a wear-and-tear mechanic in the MMO (Homeland): Axies used on land plots should degrade over time. To repair an "aged" Axie or craft high-end gear, other NFTs should have to be recycled or destroyed. NFTs need to become consumable goods but that is highly unlikely to happen.
2. Ronin is Missing Its Potential
The Ronin chain has failed to establish itself as a relevant DeFi or meme coin hub. What it actually needs is genuine cross-game utility: Every single new game launching on the Ronin chain must integrate Axies. Your Axie should become a companion in Pixels or other RPGs. In return, game developers who implement this should be heavily incentivized with massive POD rewards. Instead, Sky Mavis is stubbornly following the exact same playbook that led to the initial crash.
3. The "Axie Terrarium" Problem: Wealth for the 2020 Elite Only
The new Terrarium feature perfectly illustrates the core issue: it almost exclusively rewards players who got in before 2021. Why would a newcomer bother participating? You would have to drop tens of thousands of dollars just to have a shot at b- $AXS rewards. And even then, itโs barely worth it because you only get 30% of the rewards by default - unless you hold the utopian, outrageously expensive Mythkeeper status.
Ultimately, Terrarium is just like Land Staking: a makeshift tool designed to prevent further sell-offs, while in reality, it only concentrates wealth within a small elite from 2020.
The Bottom Line: The developers are forgetting the most crucial lesson of their own history. It wasn't the Mythkeepers who pushed Axie to 2.2 million Daily Active Users (DAU) it was the everyday Lunacians at the grass-roots level . It's a shame, but it looks like weโre going to watch the slow-motion decline play out live, just like the last years. @Ronin_Network $ron
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