Aftermath of Axie Infinity Downtrend

A little bit of a backstory. I entered Axie Infinity around March of 2021. Right before the big run up that took SLP(the coin that you earn from playing the game). I entered it because I was intrigued by the idea that you can earn from playing a game and not to mention that it's on the blockchain, as well.

I immediately bought 3 axies. I spent $500 Canadian dollars, in total. I started to learn the ins and outs of the game. Talked with fellow players and just had fun earning SLP.

Fast forward a month from then and I came across "scholarship programs". It was basically a way for you to lend someone who doesn't have the capital to play an account for you. In exchange, you pay them a portion of what they earned. I thought to myself, Hey, I get more money in the long run if I played and reinvested the earnings into buying more axies. So I did that, and bought 3 more axies off of the earnings.

I was able to get my cousin, my wife, my wife's mom, 2 friends an account each to play on. I didn't take any money off of the game. My scholars were able to withdraw money from SLP's All time highs. I was happy that I was able to help and have fun at the same time.

Fast forward to today, SLP is close to it's all time low. The same managers that were lending out accounts to scholars(people who play accounts filled with three axies and earn a cut of the earnings from it) are now having a hard time filling out those same scholarship accounts because of how low the value has gotten.

So I thought to myself, let's create a poll to see how many managers are still holding their axies and SLP hoping for better days.

Here's the result of the poll: 11.7% are holding slp but sold axies 16.4% hold axies but sold slp 45.1% hold axies and slp 17.3% sold both slp and axies 0.6% switched to breeding axies 8.57% sold all scholar axies but manager is still playing

Conclusion: A lot of people are still waiting for SLP to go up but at this point. It will be really hard for SLP to bounce back up. It's supply is around 40B and it'll take a hell of a burn mechanic to reduce the supply and make SLP bounce back up.

I don't regret taking this route as I was able to help a lot of people(in my opinion). I was only able to profit about $150 USD from playing for about 1.5 years. But I had fun getting to know a bunch of people.

If you reached this far, thank you for reading. I sincerely hope the best for your investments.