Axie Infinity’s AXS token rallies as Sky Mavis launches new Builders program.
Axie Infinity’s new Builders program boosts AXS token
That anticipation for the launch of the Builders program by Sky Mavis, creator of the hugely popular play-to-earn game Axie Infinity, was high among the game’s many fans was common knowledge. But, that this news could cause a real rally in the game’s governance token, was much less predictable.
We have entered a new wave of gaming with the release of the @AxieInfinity Builders Program 🕹️ 🌊
Here's a list of accounts you should follow to get the latest updates from this cohort of builders!
4. @axieminigames (AxiePop)
— akhil (@akhljndl) May 31, 2022
The token emerged as the best performing asset among all the top 100 cryptocurrencies on the market.
Axie Infinity is a play-to earn game in which players purchase non-fungible tokens (NFTs) representing very particular monsters, to pit them against each other in actual duels. Developed in 2017 by Singapore-based Vietnamese company Sky Mavis, it surpassed a staggering $4 billion in sales this year.
In March 2022, the company suffered a $615 million theft after a hacker attack. This caused the token to plummet by more than 50% in just under a month. Since its all-time high of $165.37, reached in November 2021, AXS has lost more than 80% and is trading just above $23.
Its market capitalization is just over $1.3 billion. AXS is ranked 48th by CoinMarketCap.
What the new Builders program involves and why it is important for the development of Axie Infinity
The Builders program, launched a few days ago, aims to provide resources, promotion, support and tools for developers in the Axie Infinity community to continue to create a compelling and valuable gaming experience alongside the proprietary platform.
The company announced that it has planned 12 different projects for now, with a prize of $10,000 in AXS tokens for developers participating in the Builders project.
Philip La, head of product at Axie Infinity, said:
“Community co-creation is a guiding north star of the Axie Infinity ecosystem and will be a fundamental driver of scaled-value generation over time”.
After the real boom recorded by this type of games in 2021 and specifically by Axie infinity leading the ranking of the most downloaded blockchain games, it remains to be seen whether gaming will also follow the downturn shown by the NFT market in the first months of the year.
The co-founder of the Axie Infinity game, Jeff “Jiho” Zirlin, told TechCrunch a few weeks ago that he believes that:
“While 2021 was a year of growth and scaling, 2022 is a year of building, shipping products, and delivering better and more accessible gameplay experiences”.
Zirlin also said he is convinced that it is play-to-earn games that will contribute the most to increasing NFT adoption in the coming years.