“A busy day at work finally [ends] and it is nice to see $SLP going up slowly,” wrote one. “But then I had a few scholars quit on me last week so time to look for new axie scholars again I guess.”
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“I had a fish farm and a plant farm. And 10 scholars,” wrote another. “They have almost all quit. My Axies are worth 10% of what they cost me to breed. I learned a lot in Axie.”
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Axie Infinity is, among other things, a live-service game, and it turns out even the crypto bros have as much trouble balancing resource economies and character progressions as everyone else. The proliferation of Axies led to the farming of more SLP, and as result the value of SLP started to tank. Currently, the only thing that removes SLP from the game is breeding Axies. To address this, Sky Mavis removed SLP farming from Adventure mode in February, but instead of the supply of SLP contracting, it continued to go up. Players are now calling for new ways to “burn” SLP and stop runaway inflation.
The implementation of player-owned in-game land, also referred to as Project K, has been another big sore spot. Sky Mavis began selling parcels years ago, but the gameplay mechanic is still under construction, and the developer announced more delays this week. Originally set to launch in early 2020, Project K was later pushed to 2021, and now still only has a generic release window of 2022.
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“The people who bought Land early basically locked up their assets in a zero return situation when there’s a lot of other things they could’ve done with that money, all because Sky Mavis kept telling us Q4 2021 was going to be the release date and now they seem to be treating current Land owners as an afterthought,” wrote one player on the subreddit.
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Other players are now debating whether to get out or hold on to see if Axie Infinity’s economy bounces back. “Lets be real for a second, we are all here because of the earning potential,” wrote one player. “And to discuss this otherwise is wasting time. I’m holding all my axies. I don’t care if it hits zero but i won’t sell for those prices now.”
In the meantime, Sky Mavis is trying to patch the $600 million hole in its pocket left by hackers. According to the FBI, the North Korea-based Lazarus Group was responsible for the breach. The U.S. Treasury added the blockchain address where the funds were deposited to the North Korea sanctions list on Thursday, but Bloomberg reports the funds could take years to recover, if they’re recovered at all. It’s okay though, a bunch of crypto and VC firms just announced they would give Sky Mavis another $150 million to help reimburse players and keep them from searching for a new grift.
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