Sky Mavis’s blockchain-based game Axie, which has seen phenomenal growth in 2018, has just surpassed $3Billion in annual sales. However, researchers at Naavik explain in a recent study that Axie Infinity players called ‘scholars’ are seeing daily earnings drop, and many have seen earnings dip below the minimum wage line of countries like the Philippines.
Naavik researchers take a deep dive into Axie Infinity — ‘Scholar’ Earnings Have Been Dropping Since August
Axie Infinity, an Ethereum-based blockchain video game is among the most played on a distributed ledger network. Sky Mavis developed the game. As of today, dappradar.com metrics indicate that it has sold $3.23 Billion in non-fungible tokens (NFT) all time. Sky Mavis was the first to launch the game and is located in Ho Chi Minh City in Vietnam.
Bitcoin.com News has covered the project on various occasions and just recently Sky Mavis revealed the launch of Axie Infinity’s native decentralized exchange (dex) called Katana. Despite the fact that blockchain gaming has experienced an astronomical growth in the first half, average players are seeing a drop in their daily earnings. according to statementsNaavik Researcher Lars Doucet. Naavik is an advisory, research, and consulting company. The report discusses Blockchain Gaming, NFTs, Axie infinity, and Naavik.
The Naavik researcher, alongside Jimmy Stone, Anthony Pecorella, Aaron Bush, and Abhimanyu Kumar published a study on NFT gaming platforms and discussed whether or not Axie Infinity was an “infinite opportunity or infinite peril.” Doucet revealed some of the report’s findings on Twitter and discussed the project at length in a thread.
“After months of incredible growth, the daily earnings of the typical player of Axie Infinity (a ‘scholar’ in the Philippines) have fallen below the Philippines’ minimum wage line for all but the high ranking players, and even they have seen earnings decline since August,” Doucet wrote on November 12.
“‘Scholars’ are players, typically in developing countries, who cannot afford to purchase [three]The game requires Axies, which are NFT-based virtual Pokemon-like creatures. They are loaned these assets by ‘sponsors’ who take a cut of their earnings,” Doucet added. This research report covers the intricacies of the numerous developments that Axie Infinity, Sky Mavis and Sky Mavis saw.
Naavik Researchers: ‘Axie Infinity’s growth Spurt Somewhat Decelerating’—’Game Holds the Retention Rate of a Job’
According to the Naavik researchers, capital has been raised in a few seed rounds by investors like Consensys and Delphi Digital. The findings also note that “Axie Infinity’s daily active users (DAUs) have skyrocketed” and cumulative DAUs in September through October were around 1.45 to 1.95 million daily active users. According to the report, the Philippines and Venezuela rank as the most popular Axie Infinity countries.
Meanwhile, Naavik’s researchers say that the game’s growth spurt might be slowing down. “This month-over-month DAU growth trend shows that Axie Infinity’s growth spurt is somewhat decelerating, but a deceleration following such an impressive burst of growth is to be expected,” the study details. “Deceleration is also supported by the following Google Trends graph in the Philippines and Venezuela, as well as worldwide in general.”
Naavik’s study explains that most Axie Infinity players come from low-income areas and the “foremost motivation is to earn money.” The research highlights that because of this trend, the game’s retention rate is more like “the retention rate of a job, not a game.” The study’s researchers note that this “isn’t necessarily a bad thing,” but it gives a different perspective than today’s most popular video games.
“It’s possible that as long as Axie Infinity enables its scholar-dominated player base to earn more income than they would doing normal jobs in their home countries, long-term retention and DAU growth will continue to remain healthy,” the Naavik authors opine. “All in all, Axie Infinity’s growth spurt is decelerating (although still positive), and a majority of its player base treats the game like a daily job to make daily financial ends meet.”
What do you think about the Axie Infinity report written by Naavik’s researchers? We’d love to hear your opinions on the subject.
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