GameFi industry tokens are growing once again
GameFi and Metaverse industries were slowly losing ground over time, but as the market faced a sudden recovery, Axie Infinity (AXS) faced a sudden price spike after introducing a few new features in addition to the market recovery.
Axie presents community treasury and “progressive decentralization”
One of the fundamental reasons behind the intensified growth could be tied to the presentation of the way of governing the Axie Community Treasury. Previously, the project reported that it grew to $1 billion in value thanks to the growth of both the project and the GameFi industry in general.
In the future, token holders will govern the use of resources and change the long-term supply of AXS, replenish resources, invest in various activities, and create resource pools to complete important projects.
The concept of progressive decentralization is the next waypoint for the project, according to the most recent article on substack. The idea of progressive decentralization is based on offering greater ownership to community members by rewarding any type of participation and contribution to the Axie ecosystem.
Interest in feedback from decentralized projects
Despite fundamental changes and updates, the increased interest in Axie can be explained by a general increase in entries into the DeFi industry and related projects. GameFi has lost much of its popularity and TVL since the start of 2022.
The majority of projects that utilize smart-contract technologies like Solana, Cardano and Ethereum are facing massive funds inflows and gaining at least 10% to their value in the last few days. At press time, AXS gained 44% to its value in the last three days and reached the resistance line of the 200-day moving average.
