James Atkins
Editor
Editor
The price of blockchain analytics tools firm Axie Infinity‘s native cryptocurrency, AXS, has been on a tear in recent days. Jumping by over 19% yesterday and soaring by more than 7.2 percent over the past week.
The price increase comes after the launch of the much-anticipated Axie Infinity Land sale on March 3.
This new Sandbox game from Sky Mavis gives players. The chance to own a piece of the virtual world and collect rent from other players. The game is still in beta but has already garnered a lot of attention with over $1 million.
As of press time, AXS was trading at $22.70, having dropped from its prior high of $27.82.
While the explanation for why the price of Axie Infinity native token AXS has been rising over the previous week is straightforward, it’s vital to first understand Axie Infinity.
Pokémon-like creatures, known as Nexomon, are bought and sold on the Axie Infinity blockchain-based gaming platform.
Players buy NFTs of these monsters to fight one another in the game. These monsters, called Axies, can be used in-game to generate income for their owners.
There are three main ways to generate income from playing Axie Infinity:
1) By participating in battles and winning prizes;
2) By breeding Axies to create new, more valuable ones; and
3) By leasing out your Axies to other players.
Leasing is a new feature that allows players to rent out their Axies to others for a set period. The leaser receives a portion of the income generated by the Axie while it is leased.
The game features a virtual currency known as SLP. Players may win additional token called the Smooth Love Portion (SLP) while they play. And they can exchange them for other cryptocurrencies or money.
The Builders Program has been the most talked-about element of the Axie Infinity ecosystem.
The price rise of the Axie Infinity (AXS) cryptocurrency especially on Tuesday was due to a statement by Sky Mavis. The Axie Infinity development group.
The group in tweet states that it has accepted the first batch of twelve projects through its Builders Program. Which aims to bring client-generated content into the Axie ecosystem.
The Builders Program is designed to incentivize the creation of user-generated content (UGC). In the form of new game modes, items, and experiences.
It does this by providing financial resources and guidance to selected participants. The program lasts for six months and has two intakes per year.
The AXIE Infinity Builders Program is a laboratory for community-built experiences and games. To incentivize developers who contribute to the platform’s gaming tools and experiences.
The winning teams will each receive a $10,000 grant from AXS. To help them finish their projects and gain complete access to tech integrations like Ronin wallet transactions and Ronin Single-Sign-On.
They also get feedback from the community to help them steer their project in the right direction.
This is a great opportunity for new and small teams, who want to get their feet wet. In the blockchain gaming industry and learn from some of the best in the space.
In a statement Sky Mavis says:
“The Builders Program is one of many initiatives that will unlock more enjoyment and utility for your Axies, in this case from the community built experiences.”
The company notes that it will collaborate with other major game studios to produce experiences for Axie Infinity and Ronin.
In addition, Sky Mavis says:
“We will be accepting many more teams over time (and maybe even quite soon) and everyone should continue to build.”
I have been writing copy for blockchain-related projects since 2017. I understand the importance of being able to communicate clearly and effectively with both technical and non-technical audiences. By leveraging my understanding of the crypto industry trends, I can help increase adoption in this rapidly evolving landscape.
