Axie Infinity Esports Grants Program Announced with 5,000 AXS prize pool
Axie Infinity continues to grow, and as a result, developers Sky Mavis will be deploying dedicated esports servers for competitive gaming. To support this deployment, Sky Mavis will be supporting community-organized tournaments through the Axie Infinity Esports Grants Program. Through this program, over 5,000 AXS (current value: ~$145,450) will be distributed throughout all approved events.
Event organizers are encouraged to send their proposals, which will be accepted until July 29, 2021. The proposals will be reviewed until August 6. Tournaments are expected to take place between August 6 and November 30 of this year. Check out the full criteria on the blog post here.
Axie Infinity is a proof-of-concept of the play-to-earn philosophy in cryptocurrency. Players buy into the game by purchasing their initial Axies. They then earn SLP (Smooth Love Potion) by playing the game. They also earn AXS, which they can use to breed their Axies. In this environment, Axies are NFTs, SLPs and AXS are cryptocurrency tokens. It’s like playing a mash-up of Pokemon and Slay the Spire where you earn crypto tokens for each win.
The popularity of Axie Infinity is growing. The demand for Axie increasing in its peer-to-peer marketplace at a faster rate than what breeders can produce. Because of this, prices for Axies, SLP, and AXS have been rising over the past few months. At a current value of SLP at $.33, for instance, the value of SLP has grown by almost 1500% since a few months ago. Most cryptocurrencies experience crashes and corrections after rapid growth. Will Axie Infinity beat the odds and avoid falling into the same pitfalls that other cryptocurrencies do?