BTCS Adds Axie Infinity to its Blockchain Infrastructure Operations
May 11 2022 - 8:31AM
BTCS Inc. (Nasdaq: BTCS) (“BTCS” or the “Company”), a blockchain
technology-focused company, announces the addition of Axie Infinity
to its blockchain infrastructure operations. In 2021, Axie
Infinity’s non-fungible token (“AXS”) transaction volume totaled
over $3.5B, which accounted for two-thirds of the blockchain gaming
space’s total volume.
What is Axie Infinity?Axie
Infinity is a user-owned, blockchain-based gaming universe where
players can collect creatures called Axies to battle, breed, and
build kingdoms with. In the skill-based game, players use Axie
creatures as part of complex strategies to attain in-game resources
and rise through rankings by completing quests and beating bosses
across a complex storyline. Third parties can access art assets and
data, which offers developers the ability to build tools and deploy
unique experiences.
AXS is an ERC-20 token that players can earn
while winning games or purchase on cryptocurrency exchanges.
Through AXS tokens, players can participate in governance proposals
and claim staking rewards.
Blockchain Gaming vs Traditional Video
GamesOne of the main differences between traditional
gaming and blockchain gaming is player ownership. In a blockchain
game, the community rewards players for reaching advanced skill
levels. The player rewards have actual monetary value, which is why
many blockchain games fall under the category of
“Play-to-Earn.”
“We believe that blockchain gaming can shape the
future of the entire gaming industry with Ethereum-based games like
Axie Infinity leading as frontrunners. Axie Infinity changes the
way people play games, going from something that is just fun, to
something that has actual monetary value,” Charles Allen, BTCS
Chief Executive Officer, said.
Technical Work Completed to Run an
Axie Infinity Validator
NodeBTCS has completed the technical work to run an Axie
Infinity validator node and included it in its planned
Staking-as-a-Service platform. The process of blockchain validation
includes special intellectual property, technical know-how, and
regular maintenance to ensure efficiency. BTCS has staked 28,794
AXS, in turn, BTCS is generating compounding rewards. Staking
allows users to generate an annual percentage yield (“APY”) on
their staked assets whereas validator node operators charge a fee
on users’ staked asset rewards in addition to earning an APY on
staked crypto. The highly scalable nature of both staking AXS as
well as allowing users to stake AXS to earn token rewards is the
premise behind BTCS’ Staking-as-a-Service platform that is
currently being developed.
About BTCS:BTCS is an early
mover in the blockchain and digital asset ecosystem, and the first
“Pure Play” U.S. publicly traded company focused on blockchain
infrastructure and technology. Through its blockchain
infrastructure operations, the Company secures Proof-of-Stake
blockchains by actively validating blockchain transactions and is
rewarded with native digital tokens. The Company is developing a
proprietary Staking-as-a-Service platform to allow users to stake
and delegate supported cryptocurrencies through a non-custodial
platform, which it plans to integrate with its Data Analytics
Dashboard, now in beta release. BTCS’ proprietary digital asset
data analytics platform currently supports six exchanges and over
800 digital assets, and the Company plans to further broaden its
suite of performance-tracking tools, add additional centralized and
decentralized exchanges, as well as wallets, and stake pool
monitoring. For more information visit: www.btcs.com.
Investor Relations: Dave Gentry RedChip
Companies, Inc. Phone: (407) 491-4498btcs@redchip.com
Public Relations:Mercy
Chikoworem.chikowore@btcs.com
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