Cryptocurrencyapps

Coins.ph launches AXS and SLP from Axie Infinity

Crypto and mobile wallet Coins.ph announced the availability of AXS and SLP in for customers to buy, sell, and store on the app and website. From only four virtual assets at the start of 2021, customers are now able to enjoy access to 12 cryptocurrencies on the Coins.ph app, which also sports a brand-new user interface.

AXS and SLP are two of the most highly requested tokens due to the rising popularity of the play-to-earn game Axie Infinity. In play-to-earn games, players can have ownership of their in-game assets, allowing them to rent them out to other players (called scholars) who earn from the time spent playing the game. The scholar and the asset owner (called manager) both earn from the crypto rewarded by playing the game.

“Axie Infinity has emerged as one of the most popular NFT (non-fungible token) games this year,” said Nauman Mustafa, CEO of Coins.ph. “With a significant number of Axie players based in the Philippines, we aim to support this growing community of scholars and managers within the country. The launch of AXS and SLP is just the start of what’s to come in 2022.”

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AXS and SLP have their own separate use cases within the Axie Infinity ecosystem. AXS is the game’s governance token, which allows its holders to vote on proposals that will determine the future of Axie Infinity. Holders can stake or lock up AXS for a set amount of time to earn additional AXS as a reward. AXS can also be earned through various in-game events, such as becoming a top player in a particular season.

SLP

SLP, meanwhile, is the in-game token of Axie Infinity primarily earned through winning matches in the game. These include activities such as completing daily quests, battling in-game enemies, or taking part in arena battles against other players. SLP is also the primary requirement for giving birth to new Axies. This is done through “breeding,” and breeders are major participants in the Axie ecosystem. They breed new Axies to sell to other players, rent out to scholars, or play for themselves.

To begin buying, selling, and storing AXS and SLP, customers simply need to update their Coins.ph app to the latest version.