Axie Infinity’s decision to launch AXS staking boosted activity on the platform, pushing unique active wallet interactions 92%. Axie is undeniably the biggest hit in play-to-earn gaming on the blockchain. Now that gamers can stake their AXS tokens, they can also earn passive income.
AXS launched last year, and has become one of the pillars of the game. With a governance function and now staking available, the token is taking center stage in Axie Infinity activities. Additionally, the APR for AXS staking currently stands at 161%, which is impressive.
Following the launch of AXS staking, Axie Infinity saw more than 184.470 transactions processed by the platform. Interestingly, these transactions only refer to interactions on the marketplace and in-game, not staking. However, the significant attention the staking announcement received also pushed new players to join.
The game has now recorded more than $2.4 billion in NFT sales since it was first introduced. These are staggering figures, showing just how big and dedicated the Axie audience has become.
AXS staking and founding members
On October 26th last year, the Axie devs team took a snapshot of its smart contracts. The snapshot took into account Axies and land owned, marketplace activity, and battles won while playing. Eligible players were deemed founding members and received a free AXS airdrop, proportional to their involvement in the game at the time of the snapshot.
Additionally, since the staking mechanism went live, the price for one AXS token has been on a steady upwards trajectory. The token reached an all-time high of $143.56 on October 4th. At the time of writing, one AXS token is worth $124.82.
Axie Infinity is steadily on track to become a hit not only among play-to-earn enthusiasts but also among users interested in earning passive income from their gaming tokens. In this sense, Axie Infinity is joining the GameFi movement and enticing new users with further earning mechanics.
DappRadar will continue monitoring Axie Infinity on its road to further success. To learn the latest news surrounding Axie, follow us on Twitter and Discord. To learn more about AXS staking, check out the links below.
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