Trading volumes for top P2E tokens are down 98%
posted 8 Aug 2023
Kaiko Research’s data highlights reduced engagement in prominent tokens:“AXS, the governance token of the Axie Infinity ecosystem is down more than 90% since early 2022 and SAND, MANA and GALA tokens have seen a a similar drop in value.”
Analysts point out that monetary incentives were a primary motivator for users, but these platforms faced challenges in maintaining their user base due to diminishing in-game rewards.
Analysts point out that monetary incentives were a primary motivator for users, but these platforms faced challenges in maintaining their user base due to diminishing in-game rewards.
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