Axie Infinity’s token explodes by 24%: why is this happening and what’s next?

Play-to-Earn (P2E) game Axie Infinity native cryptocurrency skyrocketed more than 24% on the day, as of December 5. As a result, AXS is trading above $8.59. And over the past seven days, the price has soared 29.2%.

Axie Infinity launched in 2018 and is one of the most popular blockchain games. The NFT-based game is based on collecting monsters called Axies, which then fight each other. There are different options for breeding and nurturing pets.

The Axie Infinity ecosystem also has a unique governance token known as Axie Infinity Shards (AXS). In addition to voting on key governance issues, they will give holders a say in the allocation of funds in the Axie Community Treasury. 

What are the reasons?

Well, there were several of them.

1. The roadmap and a number of upgrades to be launched this year may also have played a role. These are Land Gameplay Community and Lunacia SDK Alpha (N/A, converted to builder’s program cookbook for now).
2. The price spike coincided with an increase in trading volume, with traders taking advantage of volatility to make profits.
3. There was also an announcement of more decentralization. The Axie Infinity team said it will work to ensure that community members who are making an effort or significant contribution will be able to make decisions about how to allocate resources to the Axie Infinity ecosystem.
4. In addition, a second season of the game called Axie Origin was released. The season began on November 23 and consists of four stages. The first contained updates to core game mechanics such as Keep, Energy Burst, Bloodmoon, and other settings. The second saw updates related to maps, runes, and amulets. What to expect from the third is not exactly known. And the fourth stage will mark the final launch of Season 2.

BTW, in case you missed out: here we have written about the top five interesting metaverse games.