The main takeaway:
- Axie Infinity will launch a Decentralized Exchange (DEX) service with trading functionality limited to crypto-assets within the Axie Infinity ecosystem
- The blockchain gaming industry is booming, as the gaming model is attracting an increasing number of players
- AXS is the best crypto asset of the year, rising 250x since January 1, 2021
Massively popular blockchain gaming company, Axie Infinity, announced on Friday that it will launch a decentralized exchange (DEX). The new DEX service will provide exclusive trading functionality limited to cryptocurrencies in the Axie ecosystem.
According to Axie Infinity’s growth leader, Jeff Zirlin, the company decided it was time to introduce localized options trading. “People want to get and use their tokens from the same place without having to constantly use a bridge,” Zerlin explained on a recent episode of The Scoop podcast.
Blockchain gaming is booming, and AXS is taking the lead
Axie Infinity belongs to a growing list of blockchain games that use play-for-profit (P2E) mechanics to motivate players with rewards for simply playing the game. In the world of Axie Infinity, players level up and send their fantasy creatures, called Axies, into battle. Players can also trade Axies among themselves, building different types of fantasy creatures with unique traits.
Splinterlands (SPS) is another gaming project that has attracted a huge amount of interest in the past few months. Splinterlands managed an impressive feat earlier in the month, becoming the most widely used decentralized app (DApp) on the market according to DappRadar.
In the days following the announcement of the DEX product on October 1, the price of the AXS more than doubled, going from $74 to an all-time high of $154, before rebounding to $145 at the time of writing.
David is a cryptocurrency enthusiast and an expert in personal finance. He has authored several publications for different platforms. He loves to explore new things, and this is how he discovered blockchain in the first place.
