Ethereum based, NFT game Axie Infinity Introduces AXS staking program

Axie Infinity, an NFT game based on the Ethereum blockchain, has launched a staking program for its native token, AXS or Axie Infinity Shards.

As per the announcement, AXS holders can begin staking their tokens while the rewards will be activated in the next 24 hours to ensure all time zones could stake beforehand. “Staking is a way for us to reward our community members for having a long-term mindset and locking up their AXS tokens,” the Axie Infinity team said as part of the announcement, adding that by staking, players can earn AXS rewards.

Additionally, the team plans to offer voting rights and “a say over the use of the Community Treasury” by staking. Over 2 million AXS tokens will be distributed during the first initial month. About 58 million of the set cap of 270 million AXS tokens are presently in circulation and would release remaining through staking, gameplay rewards and ecosystem reward structures.

Axie Infinity is a trading game that allows players to collect, breed, raise, battle and trade Axies- nonfungible tokens holding distinct attributes and strengths. AXS tokens are also listed on several Crypto exchanges, offering a little slice of the gaming ecosystem.  However, players can also earn in-game achievements such as taking place on leaderboards or winning tournaments instead of directly purchasing them.