- Crypto game Axie Infinity has implemented gold-backed tokens for a promotion.
- The Axie-DGX tokens will be randomly dropped and can convert to Digix’s DGX.
- Axie Infinity’s SLP token recently pumped more than 5,000% thanks to a 4chan push.
Decrypt’s Art, Fashion, and Entertainment Hub.
Axie Infinity, an Ethereum-based, Pokémon-inspired game that lets players collect and battle cute creatures, has now added something potentially even more compelling than adorable beasts to collect in the game: real gold.
Rather, real gold-backed tokens. The Ethereum-based game’s developers have partnered with Digix to introduce special Axie-DGX tokens to the game, which can be collected and redeemed for Digix’s native, gold-backed DGX token (one DGX is equivalent to one gram of gold).
From today through August 2, the game’s Golden Season campaign will deliver $1,500 worth of new Axie-DGX tokens to players via random drops. The Axie-DGX tokens can be exchanged at a rate of 100,000 Axie-DGX tokens to one DGX token. As of this writing, CoinGecko pins the price of DGX at just less than $60 per token.
“This initiative elevates the play-to-earn narrative to new heights,” said Axie Infinity co-founder and COO Aleksander Leonsard Larsen, in a release. “For the first time, players can earn real gold by simply playing a game. User-focused experiments that benefit and reward users are key to furthering the adoption of blockchain technology.”
Additionally, the two companies have partnered with Bullionix to create a gold-staked non-fungible token (NFT) for the promotion called a Commemorative Golden Axe Coin. The coin is available for 0.35 DGX, with 0.25 of that staked and the other 0.10 spent as a minting fee. There’s no cap on the number of Golden Axe Coins created, but it will only be available until August 2.
“This collaboration with Axie Infinity is not only a major milestone for Digix—but for the growth of digital gold, highlighting its benefits across a range of industries including gaming,” said Digix co-founder and COO Shaun Djie, in a release. “By providing an in-game currency that is backed by gold, a time-tested, safe-haven asset—we are remaining true to our vision of democratizing access to gold and further showcasing the innovative use cases for digital gold.”
Axie Infinity recently saw a surge in the price of its in-game Small Love Potion (SLP) token, which is used to breed Axie creatures. The ERC-20 token pumped more than 5,000%, according to EthereumPrice thanks in large part to a thread on anonymous forum 4chan.
The surge has subsided, with the price of SLP currently hovering around $0.019 according to CoinGecko, or 92% off its June 8 peak. However, that price is still a 502% improvement over its all-time low from just one month ago, the site reports.
The views and opinions expressed by the author are for informational purposes only and do not constitute financial, investment, or other advice.