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Axie Infinity Developer Sky Mavis To Stake Over 11 Million AXS

Sky Mavis, the developer of Axie Infinity, stated that the company will stake the 11,475,000 AXS tokens on its balance sheet to reinforce its long-term commitment to the Axie Infinity ecosystem.

Axie Infinity Developer Sky Mavis To Stake Over 11 Million AXS 3

Per the original AXS vesting plan, Sky Mavis, Ltd. has been receiving scheduled allocations of AXS.

The remaining 11,475,000 AXS has been held by the organization since they were acquired, and none have been sold on the open market.

Staking this AXS represents Sky Mavis’s strong alignment with a new type of social contract, one where players and developers work and build together through aligned incentives.

Axie Infinity Developer Sky Mavis To Stake Over 11 Million AXS 4

Sky Mavis is the creator of the play-to-earn game Axie Infinity, which had a spectacular surge in popularity in 2021 before plummeting in the new year owing to the diminishing value of in-game token awards.

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Harold

CoinCu News

Harold

With a passion for untangling the complexities of the financial world, I've spent over four years in financial journalism, covering everything from traditional equities to the cutting edge of venture capital. "The financial markets are a fascinating puzzle," I often say, "and I love helping people make sense of them." That's what drives me to bring clear and insightful financial journalism to the readers of Coincu.