The GameFi and Metaverse industries are slowly losing traction as time goes on, but as the market faces a sudden rebound, Axie Infinity (AXS) has faced a sudden price increase after introducing a some new features in the market are recovering.
Axie Infinity introduces community coffers and “progressive decentralization”
One of the fundamental reasons behind the strong growth can be tied to the presentation of how the Axie Community Treasury is being managed. Previously, the project reported that it had grown to $1 billion in value thanks to the growth of both the project and the GameFi industry as a whole.
In the future, token holders will manage resource usage and change the long-term supply of AXS, replenish resources, invest in various activities, and create resource pools to execute projects. important.
The concept of progressive decentralization is the next point of view for the project, according to a most recent article on substack. The idea of progressive decentralization is based on providing greater ownership to community members by rewarding any form of participation and contribution to the Axie ecosystem.
Interested in the profit of the decentralized project
Despite the fundamental changes and updates, the increased interest in Axie Infinity can be explained by the overall increase in capital inflows into the DeFi industry and projects related to it. GameFi has lost a large part of its popularity and TVL since the beginning of 2022.
The majority of projects using smart contract technology such as Solana, Cardano, and Ethereum are facing huge cash flows and are up at least 10% from their value in the past few days. At press time, AXS has gained 44% in value over the past three days and reached the resistance line of the 200-day moving average.