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AXS users can now access NFT loans and also earn staking rewards Despite the development, Axie Infinity was struggling with improving adoption On 2 February, Axie Infinity’s [AXS] engine, the Ronin network, confirmed that users of the Play-to-Earn project could access loans directly in their wallet. According to the announcement, the feature was made available […]
MetaLend is a leading partner that allows AXS users to lend against their in-game assets or NFTs. The Ronin network, also owned by Sky Mavis, noted that AXS players could access liquidity while collateralizing with their NFTs.“Anyone anywhere is now able to access liquidity and earn yield from their Axies and land on Ronin. In the future, players will even be able to play with their NFTs when collateralized.
This may be a welcome initiative for AXS holders who survived the hard times of neglect in the last year. During this period, AXS’which was once attractive, became a shadow of itself. The NFT sector, where it thrived for some time, became a point of disinterest from the broader community. However, there has been some reawakening in AXS apart from the 67% hike in value in the last 30 days.When Ronin got word out about the MetaLend partnership, AXS’ NFT trade volume hit its highest in 2023. Over the aforementioned time period, the volume was $1.91 million.Besides the development, Axie Infinity’s COO Aleksander Leonard Larsenthat the project was pursuing lending for its NFTs for a long while. Reportedly, the network’s co-founders were looking at options to unlock liquidity.
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