Axie Infinity tokens AXS and SLP have grown by over 33% and 230% respectively in the past week following announced changes to the blockchain game’s rewards structure and the arrival of Season 20.
Axie Infinity Shards (AXS), the governance token of Axie Infinity and Smooth Love Potion (SLP), the game's reward token blockchain, have surged by 33,7% and 232,2% respectively over the past week, according to data from CoinGecko.
The impressive growth of both tokens is related to the changes made by Sky Mavis to the Axie Infinity rewards system, which were announced last week in order to ensure the balance and economic stability of the digital game. All the changes began to be implemented in Season 20 of Axie Infinity, which began this Wednesday and will distribute more than 117.600 AXS tokens in prizes to players, valued at around $7,6 million at the time of this edition.
Sky Mavis, the company behind Axie Infinity, has drastically changed the game's reward structure to balance its economic system, reducing the issuance of SLP tokens and increasing the rewards delivered in AXS.
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Axie Infinity, Season 20
Axie Infinity, one of the most popular blockchain games in the Play to Earn mechanics worldwide, brings with it great changes and news for players in its new season, which began last Wednesday, February 9, and will last 4 weeks.
Firstly, Axie Infinity has removed SLP rewards from daily missions and adventure mode, to reduce the emission of this token by 54%. In its latest publication In a blog post, Sky Mavis noted that around 130 million SLP tokens, or 40% of the tokens issued per day, were generated through adventure mode, while 14% were generated as part of rewards to players for completing daily quests. Both mechanisms, which were initially created to incentivize participation in the game, have been removed in Season 20 of Axie Infinity.
Another of the changes announced by the company for this new season is the expansion of the Axie Infinity player leaderboard. Previously, Axie Infinity gave out 3.000 AXS to the top 1.000 players of the season. Now, The blockchain game will give away a total of 117.676 AXS to its top 300.000 players. All this with the aim of encouraging participation and increasing the value and utility of Axie Infinity for its millions of players and users around the world.
Sky Mavis noted that it will continue to implement new improvements and changes to the P2E blockchain game to ensure a healthy and sustainable gaming economy for everyone. Moving forward, the company will implement new burning mechanisms for SLP to further reduce the supply of this token and balance the economy of Axie Infinity.
AXS and SLP soar in the market
Over the past week, the value of AXS and SLP has grown exponentially. The most appreciated token so far is SLP, with an impressive 232,2% growth in the last 7 days. According to the data According to CoinGecko, SLP has grown by 24% in the last 23 hours. SLP is currently trading at around $0,036 per unit.
Source: Axie Infinity
On the other hand, Axie Infinity Shards (AXS) has increased by 33,7% week-on-week at the time of writing, trading above $64,2 currently. With this value, the AXS prizes to be distributed during Season 20 amount to approximately $7,6 million. First place in this season will take home a total of 203 AXS, more than $13.000 according to the current value of AXS.
Source: Axie Infinity
The RON token from the Ronin Network has also benefited from the changes announced in Axie Infinity. At the time of writing this article, RON has appreciated by 57,3% weekly. RON was launched on January 27 and is trading at around XNUMX $3,25 per unit.
In general, the market for cryptocurrencies, is beginning to recover, experiencing an average rise of 10% since the beginning of the month. The market capitalization of all cryptocurrencies is above $2 trillion again.
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