Play-to-earn blockchain game Axie Infinity (AXS) has entirely shifted its token rewards from its classic game mode to a new game mode mode known as Axie Infinity Origin for bringing in users, as stated by Cointelegraph.
According to Cointelegraph, the Axie Infinity team made the announcement that Smooth Love Potions (SLP) will no longer be minted on its classic mode. In a statement made by Axie Infinity, the SLP rewards will be migrated to thei new game form. However, minting is expected to remain unavailable for 30 days as the team will be conducting a monitoring phase to search for bugs, abuses and exploits.
On the grounds of information by Cointelegraph, the platform specified that the move from classic to the new game mode will help with the balance of SLP economy. Moreover, along with removing classic rewards, the platform will also enable using SLP to draft different kinds of in-game boosts such as runes and charms in the new and advanced mode, to add utility and other benefits to SLP. Back in February, the Axie Infinity team has already removed the SLP rewards for the different kinds of adventure mini-game and daily quests reward in classic mode in an earlier attempt to provide balance to the economy for the SLP token. Despite the platform’s efforts to make economic adjustments, the token is still down 98.7% from its all-time high of $0.39 in July, 2021.
Moreover, Cointelegraph’s data noted that in 2021, the non-fungible token (NFT) game popularised the P2E model and accounted for nearly two-thirds of all blockchain game based NFT transactions. In the last year, the project showed $3.5 billion worth of NFT exchanges, according to the token information website NonFungible. Despite cryptocurrency tokens of the Axie Infinity project not performing well during the cryptocurrency winter, the project’s NFT transaction volume surged 205% in July.
(With insights from Cointelegraph)
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