Axie Infinity Presents Staking And In-Game Asset Loans
JAKARTA - Axie Infinity is the most popular play-to-earn game that allows users to earn money in crypto. Recently, Axie Infinity provided the option to stake their in-game assets in exchange for rewards.
Financing for the development of Ronin's blockchain, the basis of Axie, was achieved through collaboration between blockchain maker Ronin and cryptocurrency lending platform MetaLend.
Staking Axie Infinity Shards (AXS), ecosystem governance tokens, will join stake land and NFT on-chain for users. Using a MetaLend calculator, users can estimate the value of their digital assets and borrow up to 30 percent of their value for staking. The cost on MetaTech is 1 percent.
MetaLend and Ronin Network first announced their partnership on January 31, 2023. Initial funding of $5 million helped MetaLend start well. This round is led by Pantera Capital and includes participation from Collab+Currency and game union Ancient8.
According to Dasbor Data Block, the weekly trading volume for Axie Infinity peaked at $215 million (equivalent to IDR 3.2 trillion) on August 8, 2021. However, the value of the currency in the game fell as a result of the unstable economic token game.
For your information, in the game Axie Infinity, players maintain and interact with NFT "Axies", which are virtual creatures with unique characteristics and skills. Players can play various games with their Axies, earn rewards and trade their Axies with other players.