Axie Infinity players can now enjoy land staking for rewards while playing the game. This new development came into play after the relaunching of the ETH Ronin Bridge. Remember that hackers attacked Axie Infinity in March which led to the loss of over $600 million.
Axie Infinity Releases Land Staking Features
Axie Infinity recently announced that players can now stake their land NFTs to receive rewards in the form of Axie tokens. According to Axie Infinity developers Sky Marvis, the introduction of this feature will not only advance the idea of decentralization. It is also a way of developing a rewarding and beautiful NFT experience for land NFT owners.
Axie infinity already has a plan for land NFTs in the future called “Project K”. And this project aims to allow players to acquire land parcels that will enable them to carry out different activities.
These land NFTs holders can rare livestock, farm on it, and also go to battles with their enemies. “Project K” also aims to transform the Axie Infinity game into an authentic Metaverse game.
How does Axie Infinity land Staking work?
To stake lands in the Axie Infinity NFT game, users will first log in to the Ronin bridge staking page to connect their wallets. After this, they will select the plot of land that they want to stake.
After the players stake their lands, they will be able to see the amount of Axs they can earn. According to Axie Infinity, the reward for staking per day will be 11, 194.62 AXs. And players will receive this depending on the rarity of the land they have staked.
Sky Marvis also stated that users can implement the land staking features through any type of active gameplay that has a reward system which includes Origin, AXs, and so on.
After the withdrawal of the SLP reward system for players, the interest of players in Axie Infinity dropped and it affected the revenue the company generated from the game.
The company also experienced a drawback due to the Ronin Bridge hack in March 2022 which led to the loss of over $600 million.
However, the introduction of the land staking feature is aimed at getting more players involved and interested in the Axie infinity game.
It is also a way to reward players that have invested in land NFTs by allowing them to increase the amount of AXs in their custody. In the end, this is definitely a major step toward the actualization of “Project K”.