![]() Roadmap and development historyĬryptokitties brought Ethereum to a standstill during a massive bullish trend in the last leg of 2017 and revealed the unsustainability of crypto games. Or else, you can buy it on Binance or Uniswap. However, the distributed rewards are locked for one year. The number of tokens rewarded depends on your expertise in the game and involvement in community events. $AXS is distributed as rewards on Axie Infinity for playing, staking, and participation in voting. Staking will incentivize users to hold the tokens and support the growth of the gaming ecosystem. Players can stake $AXS on the Axie Infinity protocol to reap weekly rewards and participate in governance voting. The number of tokens held will determine your eligibility for these events. Interestingly, it will also get you into certain sales/auctions conducted by the team. Axie NFT marketplace accepts it as currency. $AXS enables users to facilitate payments for in-game purchases. Once the network is decentralized, $AXS stakers will govern the Treasury. This way, the Treasury will act as a binding force that brings sustainability to the platform for the long run. It also has a program called ‘The Community Treasury’ in the pipeline that promises to accrue value from the Axie community and distribute it back to $AXS stakers. Unlike traditional games where the governance of the platforms is entirely upon the developers, on Axie Infinity, gamers and token holders govern the platform. The primary utility of $AXS tokens is governance. Use cases and applications of $AXS tokens 1. It brings the Axie community members together. Users can support the growth of the platform and influence its development by staking $AXS. As the platform acquires more players and the staking program goes live, we can expect it to cross the $100 by the end of the year. Although the trend has been mostly stable since the listing of the token, it witnessed a steep rise in July and Aug 2021 despite the crypto winter. ![]() At the time of publishing, the price stands at $75.39. During the debut, it was sold on Binance Launchpad for 0.10 USD. Data shows that Axie Infinity was the highest-earning protocol than Bitcoin and Ethereum in July 2021.Īxie Infinity successfully brings gaming to the crypto realm with a mission to drive the mass adoption of blockchain technology through leisure and entertainment. More than 90,000 ETH has been traded on the Axie Infinity in-house marketplace! In May 2021, Sky Mavis raised $7.5 million for the platform with support from investors like Mark Cuban. The shockingly high earning potential of the platform drives the price of the NFTs and the in-game tokens.
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