Tuesday, November 28, 2023

The Axie Infinity token AXS has increased by 40%.

Axie Infinity’s AXS token price increased by 40% in 3 days, crossing $65, the best it has achieved in two weeks. The company recently announced an area structured reward system for the player competition round. The startup with play to earn gaming setup has increased leaderboard seats to 300,000. The AXS reward amount for the upcoming season has been boosted from 3000 to 117,676

Expected to Increase Competitiveness

The company expects the already competitive Axie game scene to go in hyperdrive after this new change. It is expected to generate more demands for better teams in the ecosystem of Axie. The company claimed that it expects this move to create a prize pool of $6 million for the upcoming Season 20.

The Excess Demand Increases Due to Economic Revamping

AXS has been the governing token for the protocol of Axie Infinity. This legal tender is useful when purchasing in-game NFTs like Axies – the digital pets in the game marketplace. AXS is also used for breeding new Axies from existing ones. The company has a dual token system. Another crypto SLP or Smooth Love Potion is won by players when clearing adventure mode levels and completing everyday quests. Area combat can also win them SLP rewards in the game.

Now SLP tokens can be earned by the gamers only in area combat after the company eliminated adventure mode and daily quests. This decision will likely reduce the daily supply of SLP tokens by 56%. This is critical when players are burning SLPs for breeding new Axies from the old ones. Recently, the team at Axie Infinity has created more SLPs to reward the players in place of burning the tokens through breeding.

Cryptured Team
Cryptured Team
The writers team at Cryptured.com is composed of passionate and experienced journalists who cover the latest developments in the crypto and blockchain space. They aim to provide accurate, unbiased and easy-to-understand news and information for their readers, as well as insights and analysis from industry experts. The writers team is always on the lookout for new and exciting stories that can help the general public learn more about the potential and challenges of these technologies.

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