GameFi Returns! NFT game giant Axie Infinity has recently launched a number of new features including AXS airdrop, AXS staking, and a new decentralized exchange platform!
NFT game Axie Infinity adopts the ‘Play-to-Earn’ gameplay model. Players can participate in battles with their NFTs – ‘Axie’ monsters in the game. Also, they can trade Axie NFTs to earn AXS tokens.
Axie Infinity launches the staking function for AXS tokens, allowing users to stake AXS tokens and earn passive income. In two days, holders have staked 9.8 million AXS on the platform. Besides individual players, blockchain gaming players are also participating in the AXS staking scheme. Yield Guild Games (YGG) is staking their AXS holdings – 189,953 AXS, or about $26.6 million – to the platform.
For now, AXS staking is offering participants an annualized rate of return (APR) as high as 240%.
Meanwhile, Axie Infinity launches the airdrops of AXS tokens to early adopters. All users who engaged with Axie Infinity prior to October 26, 2020 can receive free AXS tokens. Axie Infinity will send the AXS airdrop tokens to the user’s Ronin wallet.
About 10,000 wallets of tokens were airdropped, with a total of 800,000 AXS – or $60 million.
Axie Infinity Launches New Marketplace for AXS, SLP Tokens
In addition, Axie Infinity plans to launch a new decentralized trading platform. It specifically allows users to easily buy and sell the two tokens of the Axie Infinity game ecosystem: AXS and SLP tokens. Therefore, players don’t need to send out the earned AXS and SLP tokens to other wallets, exchanges, or other blockchain platforms.
Axie Infinity will use Ronin technology, an Ethereum sidechain to build its new decentralized trading platform.
Axie Infinity is popular all over the world, especially in emerging economies such as Southeast Asia. Local people are playing Axie Infinity as their important source of income.
The number of Axie Infinity players has grown rapidly, with more than 1.7 million players in August of this year. Although the game craze has cooled down a bit earlier, Axie NFT’s weekly trading volume has dropped from a peak of $220 million to $130 million. But it still brings Axie Infinity to billions of dollars in revenue.
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