On a recent article of mine, Is Axie Infinity dead? (publish0x.com) , I mentioned Axie Infinity's current poor performance during the past two years.
In this article, however, I will thoroughly explain why and why not someone should not invest in Axie Infinity.
Why you should
1: Axie Infinity is fairly popular
In terms of popularity, Axie Infinity is tied with metaverses such as Decentraland and the Sandbox. This can greatly improve its growth during the next bull run, which will in turn, improve your investments.
2: Axie Infinity is improving & updating
One thing that surprised me is that Axie Infinity is constantly listening to its player base and adding new updates. One of which, was to give land owners utility using Axie Homeland & updating their main game, Axie Origins. This could attract more players in a bull market.
3: $SLP is now deflationary
One main detail about Axie Infinity is its SLP tokens. Currently, right now, the price for SLP is around 0.003 USD, which is very little. However, recent reports have indicated that SLP is deflationary, which in combination with a bull market, can revive Axie Infinity.
4: Axie Infinity changed its gameplay model from Play to Earn to Play and Earn
Throughout Axie Infinity's history, it was always known as a Play to Earn game. However, with the new Axie Origins update, Axie Infinity changed its current gameplay model to be more of a Play and Earn. This can potentially attract users who are only interested in the gameplay and not for the rewards.
Why you shouldn't
1: Axie Infinity lost a lot of popularity during the bear market
Even though Axie Infinity is on par with Decentraland and the Sandbox, it lost a lot of its player base due to the bear market. It is possible that it might not succeed even in a bullish market.
2: Both SLP and AXS lost more than 90% of their respective values
SLP and AXS in the whole bear market, has lost more than 90% of their respective values. This can make it hard for Axie Infinity to regain their token values, even during a more bullish market.
3: Axie Infinity might not be able to attract more users
Since Axie Infinity lost most of their player base & popularity, there is a chance that Axie Infinity will not be able to attract new users to their platform.
In my opinion, these are the reasons why you should or should not invest into Axie Infinity anymore. This, however, is not financial advice, so please take it as a grain of salt.
Thanks as always for reading my article & have a good day!
