And also their bounty rewards given to their players decrease more. Also the value of their coins and tokens decrease to so if that situation continue to happen there's no people would play then also invest on their games again.
Axie hype is done and I think its so hard for them to recover. If they have plan to invest they better think again since its risky to do that and maybe they are just wasting their time also money because they won't get anything from them especially if they expect huge or decent earnings.
But if they have old axies they better let it rest as you said and don't sell it at loss because somehow they cannot still get some of it since the value of their NFT drops so bad.
With the reduction of incentives for players, more and more people are abandoning this token, which has ultimately plummeted.
It is indeed difficult for Axie to recover---it seems that there is no longer any interest in Axie except for loyal players who are still in it. Now is a new era where games have been developed with good visuals, while in my opinion, Axie is still too outdated.
Just hold on, hoping for a strong pump. lol
But don't get your hopes up too high, as it's unrealistic for it to reach its initial peak again.