Axie Infinity Will Get More Aggressive With Crypto: Bloomberg
According to a Bloomberg report, Axie Infinity, the popular name in the blockchain-based video game, plans to be “even more aggressive” with crypto tokens earned by players in 2023. Axie suggested that the play-to-earn model is here to stay after a difficult year.
Aleksander Leonard Larsen, co-founder of Axie’s Vietnam-based developer Sky Mavis Inc., said “we need more tokens and crazy things in terms of experiments,” on a panel moderated by Bloomberg News at a conference in Paris on Friday.
AXS price analysis
Axie Infinity price recorded a decline of almost 80% in one year time frame. While the current trading price is $9.87 with a 24-hour trading volume of $56.10 million. Axie Infinity is up 0.07% in the last 24 hours, with a current market cap of $1.10 billion.
Over the past year, AXS gave its one-year high at the price of $74.85 in March 2022, and low of $5.74 in November 2022. On the other hand, AXS noted the rise of 62.58% in its price analysis so far this year. While it is down almost 10% from the last 7 days.
Learn more about the AXS token
The original ecosystem token, the Axie Infinity Shard (AXS) token is an ERC-20 token. It was launched in November 2020 on the Ethereum blockchain, and is therefore secured by Ethereum’s proof-of-work (POW) consensus mechanism. The token is the central mechanism for running the Axie Infinity game.
In early 2021, Axie Infinity plans to migrate its NFT tokens, including Axies, Land and other in-game element tokens from the Loom Network to a purpose-built sidechain on Ethereum known as Ronin – an application-specific sidechain built just for Axie Infinity. This is being developed by Sky Mavis and is designed to support near-instant transaction confirmations, reduced gas fees and be able to help Axie Infinity scale.
AXS tokens have a total supply of 270 million tokens. Of this, around 53.5 million tokens were in circulation as of mid-November 2020. AXS token holders will soon be able to stake their tokens to receive regular rewards. But unlike some other staking assets, AXS holders will also have to vote and play to claim their rewards, according to coinmarketcap data.
Disclaimer
The views and opinions expressed by the author or any person mentioned in this article are for informational purposes only and do not constitute financial, investment or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
