Axie Infinity, a play-to-earn nonfungible token (NFT) game based on the Ethereum blockchain, announced the launch of a staking program for its native token, Axie Infinity Shards (AXS).

AXS holders tin can starting time staking their tokens, while the rewards volition be activated in 24 hours to ensure all time zones could stake beforehand, co-ordinate to a Th announcement.

"Staking is a way for us to reward our customs members for having a long-term mindset and locking upwardly their AXS tokens," the Axie Infinity squad said equally part of the announcement, calculation that past staking, players can earn AXS rewards.

The team plans to give voting rights and "a say over the use of the Community Treasury" past staking. The Community Treasury of Axie Infinity holds more than 18 million AXS tokens worth over $one.4 billion at the time of writing.

A total of two million AXS tokens volition be distributed during the first month of the staking program. About 58 meg of the set cap of 270 million AXS tokens are in circulation, and the residual wi be released through staking, gameplay rewards and ecosystem reward structures, the announcement reads.

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Launched in 2022, Axie Infinity is a trading and battling game that enables players to collect, breed, heighten, boxing and trade Axies, which are basically NFTs with unlike attributes and strengths.

AXS tokens, which are also listed on several crypto exchanges, correspond a fiddling piece of the game's universe. In addition to directly purchasing them, players tin can likewise earn in-game achievements, such as placing high on leaderboards or winning tournaments.