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AXS jump: sudden price surge for Axie Infinity as it moves towards decentralisation

By Darius McQuaid

12:19, 6 December 2022

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AXS/USD
AXS/USD
11.51 USD
-0.85 -7.010%

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P2E concept shown on a mobile phone
Axie Infinity is a blockchain-based trading and battling game that is partially owned and operated by its players – Photo: Getty Images

The pioneer of the Play-to-Earn (P2E) concept, Axie Infinity (AXS), is enjoying an increase in price thanks to its decentralisation project, as according to CoinMarketCap it is the second highest riser of the day on 6 December out of all the cryptos listed on the website.

As the time of writing on 6 December, AXS was trading at $8.98, up by 8.74% compared to the previous day, according to CoinMarketCap.  

AXS to USD

‘Our progressive decentralisation strategy’

On 5 December, Axie Infinity shared an update of its “progressive decentralisation strategy” in which it wishes to form a council, allow on-chain voting and commence treasury activations.

Axie Infinity stated its “ultimate goal is to empower the collective with the responsibility of guiding one another in advancing the community’s mission through self-organisation.”

The pioneers of P2E admitted it is still early days in this strategy, but they feel they are making “considerable headway”.

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Community to ‘help shape the future’

A Twitter profile going by the name Artic who acts as a missionary for Axie Infinity revealed via the social media platform that a “group of 600 dedicated and impactful community members have been gathered together to help shape the future of Axie Infinty” referring to the “decentralisation strategy”.

BTC/USD

23,132.80 Price
-2.980% 1D Chg, %
Long position overnight fee -0.0500%
Short position overnight fee 0.0140%
Overnight fee time 22:00 (UTC)
Spread 60.00

ETH/USD

1,582.22 Price
-3.960% 1D Chg, %
Long position overnight fee -0.0500%
Short position overnight fee 0.0140%
Overnight fee time 22:00 (UTC)
Spread 5.00

XRP/USD

0.40 Price
-3.270% 1D Chg, %
Long position overnight fee -0.0500%
Short position overnight fee 0.0140%
Overnight fee time 22:00 (UTC)
Spread 0.00321

DOGE/USD

0.09 Price
-4.120% 1D Chg, %
Long position overnight fee -0.0500%
Short position overnight fee 0.0140%
Overnight fee time 22:00 (UTC)
Spread 0.0011044

Artic added “It's been an honour to play a role in this early process. I'm looking forward to being part of whatever comes next! Let's keep building.”

CoinMarketCap, which lists just under 9,000 cryptos. describes Axie Infinity as “a blockchain-based trading and battling game that is partially owned and operated by its players.

“It was inspired by popular games like Pokémon and Tamagotchi. Axie Infinity allows players to collect, breed, raise, battle and trade token-based creatures known as Axies.”

Each Axie is an NFT (non-fungible token) “with different attributes and strengths”.

The Axie Infinity ecosystem’s unique governance token is known as Axie Infinity Shards (AXS).  

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The main difference between CFD trading and trading assets, such as commodities and stocks, is that you don’t own the underlying asset when you trade on a CFD.
You can still benefit if the market moves in your favour, or make a loss if it moves against you. However, with traditional trading you enter a contract to exchange the legal ownership of the individual shares or the commodities for money, and you own this until you sell it again.
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