Land in Axie Infinity is set to become an important feature of the game
Users can now stake their land in Axie Infinity and earn AXS tokens as a reward. Sky Mavis, the company behind the game, made the announcement today. The press release also suggested that this is just the beginning of land’s journey in the Axie Infinity ecosystem as more utility is set to be added.
- 2022 has been a year of ups and down for Axie Infinity but recent news from the platform has been mostly positive. It looks like the second half of the year could be a good one for Sky Mavis.
- The current price of AXS is 91.32% off its all time high. If Sky Mavis can get its flagship title anywhere near to where it used to be, this low price could look like a bargain.
- To buy land, you need to go to the Axie Infinity marketplace. Holders can stake their land, which will accrue at this block.
Land holders can stake their land and earn AXS tokens as rewards. This is what Sky Mavis has been promising for a while now and the company wants to follow through on its commitment.
Even though land staking is a big step forward, the team is still moving towards the much bigger launch of Project K. Project K is the codename for the platform’s attempt to turn Axie Infinity into a significant digital ecosystem. The move will see the virtual world become a big player in the burgeoning metaverse.
Before that though, users can earn tokens by staking their land. It’s the first proper utility that landholders have enjoyed, despite the first land going on sale in 2019.
Land staking is live
Axie Infinity’s land staking programme is live and ready to reward the community. 2022 was always going to be the year for land on the platform. The roadmap in Axie Infinity’s whitepaper has been pointing to land gameplay as a big milestone for this year.
With the recent big land sale and increased land utility, it’s no surprise that Sky Mavis has announced its land staking function. Users can stake up to three land plots in one transaction and will earn varying levels of native token AXS, depending on the size and rarity of their plot.
‘The incredible growth and success of Axie Infinity has provided us with an opportunity to create an expansive vision of a gaming experience for Land that goes far beyond the initial descriptions we shared during our initial announcements of this gaming concept,’ wrote the Sky Mavis team in a recent Substack post.
It seems that the purpose of land in Axie Infinity is constantly changing as the game grows and Sky Mavis reacts to new opportunities and ideas. Saying this, the team has assured its users that they are committed to honoring their earlier promise that landholders who stake land will receive AXS in return.
To buy an Axie Infinity land, you need to visit the Axie Infinity marketplace where the cheapest plot is currently going for 1.2 ETH ($1,1264). These prices are liable to change by the hour, so always do your research before making a purchase.
Axie Infinity’s fortunes are turning
2022 has been a mixed year for Axie Infinity. First, the value of their in-game assets dropped from 2021 highs. Then the platform was rocked by the record-breaking $600 million hack of its Ronin bridge.
But recent events have shown that things might be turning around for one of the biggest play-to-earn platforms of them all.
Several Axie Infinity land plots recently sold for over 130 ETH each. Sky Mavis held AxieCon: Barcelona, one of the largest real-life events for the Axie community. And the team also announced the first grant winner for the Axie Builders Program.
A land gameplay teaser was also released as Sky Mavis ramps up utility across the ecosystem. All of these advances have led to an uptick in user numbers, transaction numbers and trading volumes as people regain confidence in Axie Infinity.