Play-to-earn (P2E) blockchain game Axie Infinity (AXS) has completely removed token rewards from its classic game mode to attract its users to a new game mode called Axie Infinity Origin.
The Axie Infinity team announced that starting August 12, there will be no more Smooth Love Potions (SLPs) built on its Classic mode. According to the team, the SLP rewards will be migrated to their new game mode. However, Minting will not be available for 30 days as the team conducts a monitoring phase to discover bugs, abuses and exploits.
In addition, the team highlighted that moving from classic to new game modes will help “balance the SLP economy.” In addition to removing the classic rewards, the team will also be able to use the SLP to craft various in-game boosts such as Runes and Charms in the new mode to add utility to the SLP.
Back in February, the Axie Infinity team had already removed SLP rewards for rewarding adventure mini-games and daily quests in Classic Mode in an effort to balance the economy for SLP tokens. Despite the team’s efforts to make economic adjustments, the coin is still down 98.7% from its all-time high of $0.39 in July 2021.
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In 2021, non-fungible token (NFT) games popularized the P2E model and accounted for nearly two-thirds of all NFT transactions in blockchain games. According to token information website NonFungible, within the past year, the project showed $3.5 billion worth of NFT exchanges.
Even though the crypto tokens of the Axie Infinity project did not perform well during the crypto winter, the NFT transaction volume for the project increased by 205% in July. Its co-founder Jeff Zierlin noted that the project is a “healing”, noting the positive reception to the game’s NFT land staking feature.