Axie Infinity’s AXS Token Rises 19% Following the Launch of the Builders Program
Axie Infinity Shards (AXS), the governance token that powers the popular play-to-earn blockchain game Axie Infinity, has risen by more than 19% in the last 24 hours to become the highest performing asset among the top-100 cryptocurrencies.
Axie Infinity is a blockchain-based game in which users buy non-fungible tokens (NFTs) of Pokémon-like creatures and combat them. During gameplay, players can earn a second token called Smooth Love Potion (SLP), which they can then trade for money at an exchange.
According to CoinMarketCap data, AXS reached a day high of $27.82 earlier on Tuesday before falling to $23.95 at press time.
AXS last traded at these levels on May 10, when the larger crypto market collapse sparked by the Terra implosion drove the token down to around $17.
The latest price movement in Axie Infinity looks to be tied to Sky Mavis, the development firm behind Axie Infinity, revealing the first batch of projects approved into its Builders Program. User-generated material will be introduced into the Axie ecosystem through this program.
Axie Infinity’s Builders Program, which was unveiled in January of this year, acts as a testing ground for community-created games and experiences. It seeks to reward developers who contribute to the Axie Infinity community’s ability to build game experiences and tools on top of the platform.