Axie Infinity NFT game based on the Ethereum blockchain has announced the introduction of the Axie Infinity Shards (AXS) staking program. Players can now stake their AXS tokens with rewards to follow up soon.
According to a Sept. 30 release, AXS token holders can begin staking their tokens, while the incentives will be implemented in 24 hours to ensure that all time zones can stake ahead of schedule.
“Staking is a means for us to reward our community members for having a long-term attitude and locking up their AXS tokens,” the Axie Infinity team explained in a statement, adding that users can earn AXS incentives by staking.
Staking will provide voting rights and “a say over the usage of the Community Treasury,” according to the team. At the time of writing, Axie Infinity’s Community Treasury held approximately 18 million AXS tokens worth over $1.4 billion.
During the first month of the staking program, a total of 2 million AXS tokens will be distributed. According to the statement, around 58 million of the 270 million AXS tokens slated to be released are currently in circulation, with the remainder to be released through staking, gaming incentives, and ecosystem reward systems.
Axie Infinity, which was released in 2018, is a trading and battling game in which players can gather, breed, raise, battle, and trade Axies, which are nonfungible tokens (NFTs) with various traits and strengths.
AXS tokens, which are also traded on many cryptocurrency platforms, are a small part of the game’s environment. Players can gain in-game accolades such as placing on leaderboards or winning tournaments in addition to purchasing them directly.
