The team behind Axes Metaverse, a play-to-earn metaverse on the BNB Chain, has announced that the game servers of their Web3 title are officially closing this Thursday, May 25th at 4 PM UTC.

This was revealed in a recent Q2 update post earlier this week, where they acknowledged their inactive state over the past couple of months. In the letter, they claim that their initial strategy was to turn traditional gamers into Web3 ones, but ultimately the plan didn’t pan out successfully. It’s also mentioned that they’ve been negotiating with various launchpads, but that these negotations are taking “longer than expected.” Coupled with the bear market that led to a declining interest in GameFi, the developers have decided to close down in the meantime until better market conditions arrive as the game’s current low playerbase and rate of conversion to Web3 gaming proved unprofitable and unsustainable for the studio. 

While the servers will remain closed until further notice, this doesn’t mean that the project is completely gone for good. According to the announcement, there are plans to get a couple of updates done “based on community feedback” while getting the game prepared for the launch of its core token, with the team stating that the “main goal is to focus on the traditional Web3 gamers experience and launch a successful traditional Web3 product.”

Regardless of the game’s closure, the marketplace will continue to work as usual, making it still possible to trade any of the game’s NFTs there should you wish to do so.

Axes Metaverse officially released back in November last year with isometric PvP gameplay in the form of the project’s first game mode, Axes: Battleground. For full details on the Q2 update, you can find the unfortunate news linked in the tweet down below.