BTCS is the first publicly traded “Pure Play” company that emphasizes on blockchain technology and Web 3.0 infrastructure. The company has a Staking as a Service platform that lets users stake and delegate cryptocurrencies, which is also paired with its data analytics platform. The company currently supports 6 exchanges and more than 800 digital assets with plans of expanding its suite with tracking and monitoring tools along with more exchanges. Axie Infinity has been added to BTCS Inc.’s blockchain infrastructure operations. In 2021, Axie Infinity’s non-fungible token (“AXS”) transaction volume totaled over $3.5B, accounting for two-thirds of the total blockchain gaming market.
P2E Strategy Game, Axie Infinity’s Revolutionary NFT Based Gameplay
Axie Infinity is a user-owned, blockchain-based gaming universe in which players can battle, breed, and build kingdoms using creatures called Axies. Across a complex storyline, players use Axie creatures in complex strategies to gain in-game resources and rise through rankings by completing quests and beating bosses. Art assets and data can be accessed by third parties, allowing developers to build tools and deploy unique experiences. Players can earn AXS tokens by winning games or purchase them on cryptocurrency exchanges. Players can stake AXS tokens to participate in governance proposals.
The ownership of players is one of the main differences between traditional gaming and blockchain gaming. The community rewards players for reaching advanced skill levels in a blockchain game. The rewards that players receive have actual monetary value, which is why many blockchain games fall into the category of “Play-to-Earn.” “Ethereum-based games like Axie Infinity are leading the charge in blockchain gaming.” According to Charles Allen, BTCS Chief Executive Officer, “Axie Infinity changes the way people play games, going from something that is just fun to something that has value.”
Staking as a Service Platform, BTCS Prepares for AXIE Validator Nodes
As part of its Staking-as-a-Service platform, BTCS has completed the technical work to run an Axie Infinity validator node. Blockchain validation involves special intellectual property, technical know-how, and regular maintenance to ensure efficiency. With 28,794 AXS staked, BTCS is generating compounding rewards. Staking allows users to earn an annual percentage yield (“APY”) on their staked assets, while validator nodes charge a fee on staked assets earned in addition to an APY. The premise behind BTCS’ Staking-as-a-Service platform that is currently under development is the highly scalable nature of both staking AXS as well as allowing users to stake AXS to earn token rewards.
Author
Chris Munch is a professional cryptocurrency and blockchain writer with a background in software businesses, and has been involved in marketing within the cryptocurrency space. With a passion for innovation, Chris brings a unique and insightful perspective to the world of crypto and blockchain. Chris has a deep understanding of the economic, psychological, marketing and financial forces that drive the crypto market, and has made a number of accurate calls of major shifts in market trends. He is constantly researching and studying the latest trends and technologies, ensuring that he is always up-to-date on the latest developments in the industry. Chris’ writing is characterized by his ability to explain complex concepts in a clear and concise manner, making it accessible to a wide audience of readers.
