Play-To-Earn becoming cool again 😎

GM Guys and Gals,

Folks, We all like to play games (brotha that is the reason e-sports 👟 is becoming huge) and when we earn by playing 💰 that seems to be cherry 🍒 on the cake 🎂. The P2E segment in the web3 space is getting traction again appealing to the masses, Here is everything you need to know 👇🏻

The Rise in Active Users ~ Axie Infinity 👌🏻

Axie Infinity is starting 2023 on the right track, as the P2E game’s active users recorded a 59% rise. According to recent data, Axie Infinity‘s sales volume also rose by a whopping 214% in January. This promising data suggests that Play-to-Earn games might become popular again after a tragic downfall in 2022!

The most recent data from DappRadar shows that Axie Infinity’s active user wallets have increased by 59%, since January 1st. Of course, the native tokens of the game, AXS (Axie Infinity Shards) and SLP (Smooth Love Potion) also increased gradually until January 14th when both reached their peak.

All in all, the new reports show an impressive achievement considering that P2E games decreased in popin.

The exciting increase might also relate to the game’s latest update, which launched at the beginning of January. The new feature allows players to customize their Axies, trade in-game items, and boost the overall game economy.

Are P2E Games The Trend in 2023?

Last year was definitely less successful than 2021 for the Play-to-Earn NFT-powered games. However, things may take a turn this year with popular games (like Axie Infinity) reporting a rise in popularity.

Furthermore, investors are backing new P2E games too. The latest example is Neopets, a virtual pet game ready to enter the Web3 world. Accordingly, the game founders raised $4 million from top investors to scale their project.

The investor's list includes Polygon, Blizzard Avalanche Fund, and Hashkey Capital, which means one thing: it might turn out amazing.

To conclude, we should definitely keep an eye out for P2E NFT projects this year.

That's it for the day, Web3Shala 👋

To the Moon 🪐LFG 🚀