Finally, something to put a smile on the faces of the Axie Infinity community. Axie Releasing is now live on the Ronin network as players can now release unwanted Axies in return for 1 of 5 exclusive Land items. These Axies will be allowed to live independently in Lucania, which is also where players can display their new cosmetic items.
The main purpose of the Axie Releasing feature is to bring balance to the game economy. Axie prices have been steadily declining since their peak in mid-2021 and many players have expressed their frustrations on various platforms. In addition, its in-game breeding token, $SLP, is now $0.0181 at the time of writing, down from a peak of almost $0.40.
As a result, more breeders are breeding and flooding the Axie marketplace, causing an increasing over-supply. Since the announcement yesterday, the number of Axies for sale has already seen a noticeable decline.
Lunar New Year items
The Axie community has been anticipating this drop as the Lunar New Year approaches. This comes after an avid fan stumbled across 5 new tokens being added into the Axie Infinity land item contract last week. The fan quickly shared this discovery on Twitter which has gotten global fans excited. Let’s take a look at these 5 cosmetic items:
Assorted Firecrackers: 35% chance (Common)
Traditional Snack Box: 35% chance (Common)
Blossom Tree: 20% chance (Common)
Lucky Lantern: 9% chance (Rare)
Crimson Tiger: 1% chance (Rare)
On top of that, all participants will be automatically entered into a raffle. Each Axie released will generate 1 raffle ticket, which may stand a chance to get 1 of the below prizes:
1 Winner: 5 Axie Origin Coin (AOC) tokens
10 Winners: Kitsune Mystic Land Item
100 Winners: CoinGecko or Ganbaru CrypTon Epic Land Items
The Axie team also mentioned that they will organize more releasing events if this one goes according to plan. It is only the first day, but judging from the market reaction so far, I guess we will see more of such events in the near future.
All investment/financial opinions expressed by NFTevening.com are not recommendations.
This article is educational material.
As always, make your own research prior to making any kind of investment.
