Popular gaming token Axie Infinity (AXS) has rallied in the last 24 hours after introducing land staking rewards, while cryptocurrency lender BlockFi has also added support for the token. On top of that, the metaverse coin AXS has been bullish. Here are the details…
Axie Infinity is powered by a new platform
As we reported earlier this week, Axie, more It offered rewards for staking virtual terrain in its game to attract players and raise AXS prices. The move seems successful so far. Meanwhile, in a blog post, crypto lending service BlockFi said that non-US users can now trade and earn interest on AXS and 13 other popular tokens. The move is effective from May 4.
The list also includes cryptocurrencies Terra (LUNA) and Binance Coin (BNB), among other popular metaverse tokens such as The Sandbox (SAND) and Decentraland (MANA). All of its mentioned tokens posted strong gains on Thursday following the move. BlockFi is among the largest crypto lenders with over 500,000 retail accounts, all of which can now access AXS and the like. The popular play-to-win game said it has introduced land designation rewards to encourage virtual land ownership and improve governance.
Metaverse coin price is on the rise
The move also comes as the game responds to a delay in land features by placing players’ virtual lands on sale, significantly lowering land prices. However, terrain determination is temporary and rewards are set for transitioning to active play after the terrain update is released. The game now plans to offer more programs to encourage community engagement.
Axie Infinity (AXS) managed to rise from $ 29.27 to $ 34.71 after the latest developments. AXS is changing hands at $34.09, up 11.9 percent at the time of writing. It changes hands at $2.6 billion. It has experienced a decrease of 12.2 percent on a weekly basis and 26.2 percent in the 14-day period.
