Axie Infinity's AXS token has surged 123% after Sky Mavis, the game's developer, announced significant changes to its reward system. The new season, which began on January 21, introduces bAXS, a non-tradable token backed one-to-one by AXS, aimed at curbing bot activity and rewarding genuine players. This change, announced by co-founder Jeff Zirlin on January 14, has reversed a prolonged downtrend in AXS prices. The overhaul is expected to reduce the influx of new AXS tokens into the market, potentially creating a supply shock. Players can convert bAXS to AXS for a fee, with lower fees for high-reputation players, encouraging long-term engagement. The developers are also addressing the oversupply of Axie creatures, hinting at aggressive burn mechanics to enhance the game's ecosystem.
Axie Infinity's AXS Token Soars 123% Following Reward System Overhaul
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