NFT Play-To-Earn Game Axie Infinity Launches AXS Staking Program

The most popular NFT play-to-earn game, Axie Infinity, now allows players to stake their AXS tokens with rewards coming up soon.

Ethereum-based, a non-fungible token (NFT) play-to-earn game, Axie Infinity, announced that it launched the staking program for its native token, Axie Infinity Shards or AXS.

According to the P2E platform, AXS holders can start staking their AXS tokens while the rewards will follow up or will be activated in 24 hours to ensure all time zones could stake beforehand.

In the announcement, the Axie Infinity team said,

“Staking is a way for us to reward our community members for having a long-term mindset and locking up their AXS tokens. By staking, players can earn AXS rewards."

In addition, by staking, holders will get voting rights and a say over the use of the Community Treasury. As per reports, the Axie Infinity Community Treasury holds over 18 million AXS tokens worth over $1.4 billion at press time.

As per the Axie Infinity team, a whopping 2 million AXS tokens will be distributed during the beginning of the staking program. In addition to this, roughly 58 million of the set cap of 270 million AXS tokens are in circulation. The rest would be released through staking, gameplay rewards, and ecosystem reward structures, according to the team.