Thursday, November 30, 2023

AXS Token Rallies 19% After Builders Program Launch

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Axie’s AXS token rallies 19% after the Builders program launch and Sky Mavis announced the first 12 projects that joined its Builders Program so let’s read more today in our latest cryptocurrency news.

Axie Infinity Shards the governance token that powers the blockchain game Axie Infinity, soared up to 19% in the past day to become the best performing asset in the top 100 cryptocurrencies. Axie Infinity is a blockchain-based game where players buy NFTs from Pokemon-like monsters to pit them against each other and fight. The players can earn a second token dubbed Smooth Love Potion and trade them for money at the exchange.

The data from CoinGecko shows that AXS token rallies 19% and reached a high of $27.82 before dropping to $23.95 at press time. The last time that AXS traded at these levels was on May 10 before the market rout caused by Terra’s implosion took down close to $17.Axie Infinity’s latest price action seems to be related to Sky Mavis as the development group behind Axie Infinity revealing the first batch of projects which were accepted into the Builders PRogram which will introduce user-generated content to the Axie ecosystem.

Initially announced in January this year, Axie Infinity’s Builders program is like a laboratory for games and experiences. It aims to reward the developers that help enhance the Axie Infinity community in creating gaming experiences and building other tools on top of the platform. Among the host of incentives, the chosen teams will get a minimum of a $10,000 grant AXS tokens to fund the projects and have access to tech integrations like Ronin Single Sign-on and Ronin wallet transactions as well as guidance from Axie Infinity’s game design, engineering, and product teams. The projects will be able to monetize their game using the game brand and a revenue share model.

axs 24h
AXS Token 24-hour Price Chart (Source: coingecko)

Some projects in the Builders Program include Inter the Dungeon which is a dungeon crawl that will provide standards for sharing style, identity, and prestige by showcasing how to exchange resources between games as well as DOLL which is a survival action game with simple gameplay. The Builders PRogram is one of the initiatives that allow more enjoyment and utility for Axies in case of community-built experiences. The company also added that it will be forming partnerships with major game studios and developing experiences for Ronin and AXie Infinity. Sky Mavis Added:

“We will be accepting many more teams over time (and maybe even quite soon) and everyone should continue to build.”

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