The value of the Axie Infinity (AXS) Binance Launchpad lottery ticket, which was first sold for $200, has now skyrocketed to over $250,000! This is all thanks to the astronomical scale in which Axie Infinity and its token, AXS, has grown in the past year.
Back in October 2020, 2,000 AXS tokens were allocated to each AXS launchpad lottery ticket. Users who bought the ticket then for $200 worth of Binance coin (BNB) and held onto the token now has a fortune in their hands. As per today’s AXS market prices, 2,000 AXS is worth around $250,000 – that’s over 124,900% rise in price.
What is the AXS launchpad lottery ticket?
In October 2020, Binance held AXS public sale on its Launchpad platform. The sale, however, was held in the format of a lottery. During this, a total of 14,850 AXS launchpad lottery tickets were up for grabs.
The chance of winning a ticket depended on the amount of BNB held in a user’s account. Hence, prior to the event, Binance took a snapshot of users’ wallets during a seven-day period. Based on this, the platform decided how many AXS lottery tickets to be given to each BNB holder.
For each lottery ticket, the users received 2,000 AXS tokens. Additionally, BNB amounting to $200 were deducted from their account. This is because, at the time, a single AXS token cost $0.10.
Cut to today, Axie Infinity is currently the biggest play to earn blockchain game. Furthermore, the AXS token has a market cap of around $2,500 billion. Early this month, the game launched AXS staking feature after much anticipation. Sky Mavis, Axie’s parent company, airdropped 800,000 AXS to around 10,000 players who were involved with the game before October 26, 2020. Even with more tokens in the market, AXS’ price has only gone up.