Axie Infinity (AXS), the pioneer of metaverse coin players, announced that it will increase terrain staking rewards to reach more players. The decision has been met with dissatisfaction among the community due to limited land use and delays.
Metaverse coin is trying to impress players with staking rewards, can it succeed?
Additionally, the launch appears to be an effort by the developers to increase Axie’s player base and AXS pricing in the wake of the recent Ronin breach. Axie Infinity intends to dedicate 337,500 AXS each month to this effort. The terrain allows players to build bases, obtain resources and plan activities to compete with other players. It seems that the metaverse coin project is after AXS’s high pricing and dwindling user base.
Axie Infinity (AXS) said in an official statement that it is offering land stake rewards for users to strengthen their ownership and influence in the ecosystem.
Axie Infinity (AXS) share payment per plot is determined according to the land type. The highest payout for the Genesis plot is 32.70, while the minimum reward for the Savannah plot is 0.08. Forest, Arctic, and Mystic offer rewards of 0.26, 0.74, and 1.64.
Players are selling their lands due to delays
Following the announcement that the terrain game will be delayed until December 2022, Axie Infinity players have started releasing their Axes and lands. The action adds to the pressure on the developers, who are already facing backlash following the Ronin bridge attack. As we covered in the cryptokoin.com news, the AXS price has lost almost 50% since the Ronin hack.
At the time of writing, AXS price is trading at $29.18. The price has lost more than 20% since last week. More than 50% loss in the last 30 days.
However, traders don’t seem too happy with Wednesday’s news. AXS prices have risen slightly from their intraday lows and are down 3.4% in the last 24 hours. Along with the Ronin hack, the game is struggling with a dwindling user base. According to data from Activeplayer, monthly player numbers have been falling steadily since January’s high.