Remember when Axie Infinity (AXS) became the focus of the entire crypto community because of its lucrative returns compared to Bitcoin (BTC) and Ethereum (ETH)?
This time the opposite happened when the income of Axie Infinity (AXS) players in the Philippines is said to have dropped to a level lower than the minimum wage for most of its players since August.
Based on records from the Philippine Department of Labor and Employment, the minimum daily wage in the country is $ 7.03 (RM29.28).
This is in stark contrast to the situation when the game received high attention and recorded lucrative profits.
In an interview with one of his players known as Porky, he revealed his profit is up to $ 20,000 (RM83,300) a month, compared to his other peers.
Meanwhile, the decline in the growth rate of its users has started to slow and this invites concern if the game is able to survive for the long term.
As well as attention to the profits of its players, will it remain at the highest level compared to the minimum daily wage?
For the record, the total number of daily active users (DAU) continued to increase during September-October, starting from 1.45 million to 1.95 million users. However, its growth rate recorded a consecutive decline for the third month, even being a major contributor to the decline in the price of Small Love Potion (SLP) tokens.
A total of 55% of Axie Infinity players are from the Philippines, while 65% -70% are from the Southeast Asian region other than that country.
At the time of writing the AXS posted a trading price, $ 133.79, down over 7%. While the SLP traded at $ 0.068, it was down almost 11% in 24 hours.
