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The price of Axie Infinity is increasing as a postivie response to several developments including an updated gaming version and more community hands-on control.
The price of Axie Infinity native token (AXS) recently climbed by 13% as the team behind the blockchain game plans full community decentralization. The recent upswing in AXS price also represents a gain of 56.5% over the past ten days. As it stands, the play-to-earn gaming token is currently changing hands at $72.35, according to CoinMarketCap.
Axie Infinity was one of the most popular non-fungible tokens (NFT) based online video games back in 2021. This was a direct result of the thriving broader play-to-earn (P2E) gaming sector to blaze the crypto market. The success of this gaming industry now looks set to continue throughout 2022. Judging by recent moves by Yuga Labs and Bored Ape Yacht Club, the success is all the more apparent.
Major Catalyst for Axie Infinity Price Upswing
A major reason for the AXS price upswing is an announcement made today by the game’s developers. The Axie Infinity team looks to hand control of its $1 billion treasury to its community of AXS token-holders. According to the team behind the blockchain-based play-to-earn game, the entire process of the initiative can be described as “progressive decentralization.” Axie Infinity issued a post on Twitter that foreshadowed the aforementioned project, with a caption that read:
“Axie is owned by its players— but what does this mean? To make this clear, here are our thoughts on progressive decentralization, the Axie Community Treasury, and an updated roadmap for community governance.”
Axie Infinity was also one of the first games to leverage crypto and NFTs for the purpose of enhancing gameplay. The gaming platform is now preparing for its next major launch Axie Infinity: Origin, expected to happen in the coming weeks. This initiative could also further potentially boost the value of AXS to even greater heights. Weighing in on Axie Infinity: Origin, Axie Infinity game product lead Philip La provided a Twitter update on Twitter which read:
“To clarify, we’re still aiming to get Origin out by end of the month. It’s cutting close but our engineers are working non-stop to polish and fix bugs. Shipping a very complex and quality product is hard. Engineers out there may empathize with this. We’re pushing!”
Currently reimagined as a version of the original Axie Battles game, Origin will include new game mechanics. The project revamped gameplay mechanics to improve the overall player experience. Some of these include free starter Axies to help attract new players to the game, and a reimagined storyline. The latter provides depth to the player experience.
Furthermore, Origin will also add active cards for eye and ear body parts and introduce new in-game items like runes and charms. The in-game items will function as gameplay performance boosts and will require the burning of the platform’s native SLP token. It is also worth noting that the Axies, AXS, and SLP tokens all have real monetary value too.