Bitcoin

Axie Infinity launches a governance token

DeFi converges in game with non-fungible tokens (NFT) Axie Infinity, powered by Ethereum, the number of users has increased before the expected launch of the project’s governance token.

Axie Infinity is a decentralized turn-based strategy game inspired by Pokemon and Tamagotchi with players able to breed, fight, and trade NFT-based fantasy creatures called “Axie”.

Since its introduction in February 2018 The game more than attracted 7,000 Token holders and more than 4,500 active market participants. It was recently ranked the # 11 NFT game for the ether volume of 4,570 ETH.

Axie Infinity launches a governance token
Axie Infinity launches a governance token

Based on the number of NFT holders, Axie has outperformed every title in the top ten by volume, except for Gods Unchained and CryptoKitties.

The video game shares some features with DeFiwhere users compose Instructions that instruct players to “cultivate” Axes to generate a consistent income.

Currently, players can earn the Small Love Potion (SLP) utility by playing. This mark is needed to breed new Axies. SLP It is currently trading at $ 0.046 and has a 24-hour trading volume of $ 38,200.

The recent surge in Axie Infinity users is due to the expectation of the project’s next governance token.

The token was announced on August 9th by the game’s co-founder. Jeff Zirlin, WHO tweeted as A domestic government coin would hit the market before 2021.

Axie isn’t the only crypto gaming company looking to unite NFT and DeFi with the announcement of Polyiente games that it issues membership and rewards ERC-20 tokens that can be used to provide liquidity to the market. In July, The company also announced that it would bring an “NFT-centric decentralized exchange” to Ava Labs’ Avalanche platform.

Talk to Cointelegraph Craig Russo Polyient described NFTs as the beginning of the emergence of an “independent asset within DeFi” emphasizing the growth of credit markets and fractional trading in tokens.

Similar Posts