Axie Infinity Suddenly up 25%, What’s Happening?


An hour after its launch, Axie Infinity’s native token, AXS, gained 25%. The game pits fantasy creatures called Axies against one another in battles.

In the seven days prior to publication, AXS was up 27.65% at $8.51, up 26.32%.

Traders are taking advantage of the recent volatility to capture profits during the recent price jump.

AXS has also risen in the market rankings to become the 50th largest cryptocurrency with a market capitalization of $813 million.

“Artic,” an Axie Infinity missionary, shared that “Over 600 dedicated and impactful community members have come together today to help shape the future of Axie Infinity.”

Decentralization of Axie Infinity is in progress

Axie Infinity announced earlier this year that it would gradually decentralize the service.

In the team’s plan, “invested” community members – i.e., those who make meaningful contributions – will be responsible for making decisions about Axie Infinity’s resources.

In a blog post, Axie Infinity describes its steady progress with its plans. In May, the Axie Infinity “Town Builders,” a collective of community members, were founded. In October, Syntax and Akhil were elected Town Builders.

The company has announced today that 700 members of the community have been chosen for the inaugural “season” of Axie Contributors, who will participate in the newly created “Governance” section on Axie Infinity’s Discord server.

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