Thursday, April 25, 2024
9 °C New York, US

News Anyway

The latest news and views from around the world

cryptocurrency

Axie Infinity And Sandbox Are Losing Value Amid The Crypto Market Preparation To Rally. Can Big Eyes Coin Finish Uptober’s Race In The Lead?

  • 300 Views
  • 0

Ever since the crypto peaked in 2021, the swift decline affected every corner of the market, sparing no one. Amid the ongoing crypto winter, there was one sector that seemingly felt untouched by these detrimental effects.

Indeed, blockchain gaming or GameFi was the silver lining illuminating the dark horrors of winter, or so it seemed. At the time of writing, two of the most popular blockchain games, Axie Infinity and The Sandbox, could be doing better, to say the least.

In fact, both games documented a record exodus of key players, providing little clarity of what is going to happen next. While Axie Infinity suffered several major hacks, thus alienating a significant chunk of its core audience, the Sandbox just has not been resonating with the crypto flock as of recently.

Join me in today’s editorial, where we will see whether both of the aforementioned games will be ready to get back in the saddle amid the market’s final rally before the end of Uptober. Further, we will discuss the prospects of Big Eyes Coin to finish the season in the lead. Let’s dig in.

Big Eyes Coin’s Levity Illuminates The Gloomy Uptober

Sometimes what we all need is a bit of laughter, and it looks like that during the rainy season, Big Eyes Coin delivers on this better than the rest of the flock. With a cute anime-inspired cat project, what started as a meme token quickly outgrew its initial premise and smashed its presale records, amassing more than $9 million at the time of writing.

Unlike its closed competition in the face of Dogecoin and Shiba Inu, Big Eyes Coin created a loyal community of supporters without capitalizing on the existing brand. On the market, where most of the tokens are dog-themed and ape-derivative, the aesthetics of the cute cat feels like a breath of fresh air.

Indeed, its conspicuous design is one of the main reasons it resonated with the crypto flock on a massive scale. If you feel you are among these lucky souls, feel free to claim bonus tokens using this promo code BEYES293 when you purchase the platform’s native token, BIG.

Axie Infinity: The Land Of Little Monsters

Although only this February, Axie Infinity announced a record-breaking report regarding the all-time NFT sales from the in-game economy, things could be better at the time of writing. The Pokemon-inspired game suffered multiple security breaches and failed to attract many players to its updated version compared to its peak performance.

However, most likely, the primary problem lies with external factors. Ever since Covid, the ongoing war in Europe and the recession that hit most developed countries, people have been less keen on spending money, primarily on gaming.

Not many people are aware, but to engage in P2E gaming, one has to put up an initial capital to earn something in return. And while there are games that are 100%, this has never been the case for the Axie Infinity. Considering this, it might take more time than a couple of successful rallies to put Axie infinity back on top.

The Sandbox Is Simply Not That Fun To Play

Despite starting strong initially, the growth of the Sandbox game has been accompanied by several unfortunate developments.

While the game enjoyed overwhelming popularity with its mobile hit game released in 2011 and the Sandbox evolution (2016), which combined more than 40 active users, diving into the blockchain territory has not been as successful.

Inspired by another hit game Minecraft, the Sandbox enables its players to create the in-game environment as they go, monetizing it along the way.

And although the company has more than 50+ prominent partnerships, ranging from Starbucks to Adidas, the Q4 of 2020 has shown that the game barely counts 1000 unique wallets performing transactions on-chain.

While the situation could change if the bull rally that the market is currently preparing comes to fruition, one thing remains adamant: GameFi does not resonate with the broader audiences as expected originally.

Related Articles