Pixels has jumped to the front of Axie Infinity in the hierarchy on the Ronin blockchain. This transition is an important turning point for the blockchain gaming space. Pixels has still been on an impressive upward trajectory, particularly following its new foray into NFT trading. Yet questions about the initiative’s long-term sustainability began to buzz.
In terms of what people are buzzing about Ronin has been largely driven by Pixels, which has overshadowed the once clear focus on Axie Infinity itself. The runaway success of the game is evident in its unprecedented user engagement. Just in the last 30 days, it passed the milestone of more than 300k unique active wallets (UAWs).
Pixels took a new leap into the NPC trading ecosystem with February’s Pixels Pets mint. Pixels Pets — 1.22 million RON, about $600,000. Pixels Pets is a Romanian NFT-based social game. Moreover, its Farm Land has a value of 1.35 million RON.
Even with its recent victories, Pixels is still far behind Axie Infinity in total NFT trading volume. Pixels is providing an alternative to Axie’s loss of steam. Its trading volume is still miniscule compared to the all-time highs of 2021 fueled by Axie.
Since Pixels peaked in March 2024, Pixels has gone into freefall, following the same path as Axie Infinity. Pixels’ analytics are not so bright and beautiful as its charting transactions. This steep drop-off has led many to wonder about the game’s long-term sustainability.
While Pixels’ ascendance has been a thrilling success story, its post-March 2024 collapse should give us serious pause. Pixels already had its bullish cycle and is slowly, but surely correcting downwards. It’s a déjà vu scenario for the world of Axie Infinity.
