Axie Infinity Players Can Now Stake Their In-game Assets To Earn Rewards
- Players of Axie Infinity will soon be able to borrow money against their staked AXS and RON on their Game on Ronin thanks to a cooperation between MetaLend and Sky Mavis.
- Axie Infinity players may now stake in-game resources to receive prizes.
- Before receiving a staking payment, one must estimate the worth of their digital assets using the MetaLend-provided calculator and borrow ETH against the asset for up to 30% of its value.
Players of the well-known blockchain game Axie Infinity will soon be able to borrow money against their assets, such as staked AXS and staked RON, thanks to cooperation between MetaLend and Sky Mavis.
The decentralized lending platform MetaLend has teamed up with Sky Mavis to debut on the Ronin Network as an official lending partner for both investors and participants in Axie Infinity. The value of their Axies, Mystic Axies, and Axie Land could be used as collateral for loans made over the Polygon network by numerous users thanks to MetaLend prior to the cooperation.
Axie Infinity, a well-known play-to-earn game, now allows players to stake in-game assets to receive rewards. According to the company’s website, over 1700 Ronin-based NFTs are now being utilized on MetaLend as collateral.
DeFi services are essential financial infrastructures for the long-term stability of digital economies, according to Bailey Tan, Director of Ecosystem Strategy at Sky Mavis.
Users may stake their real estate and NFTs on-chain, and they will soon be able to stake AXS, the ecosystem’s governance token. Before receiving a staking payment, one must estimate the worth of their digital assets using the MetaLend-provided calculator and borrow ETH against the asset for up to 30% of its value. A. 1% fee is charged by MetaTech.
Due to this partnership, users of Axie Infinity will be able to sell their in-game assets on Ronin. Members can use the money for both personal spending and strategic investments and transactions.
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