Sky Mavis’ Axie Infinity: Homeland has entered open beta, but the reception has been divided.
No NFTs are now required, but the PC game – which has been live in closed beta since late 2022 – has been reset. This means everyone’s accounts have been wiped in conjunction with the game’s art style and UX being revamped.
However, the big news for existing players is the land staking campaign has stopped.
Land staking was originally introduced as a way for land NFT holders to passively earn daily AXS tokens. It was always going to be a stopgap measure because at that stage you couldn’t functionally do anything with land, which launched as early as 2019.
However, over time land staking ended up being the anchor for land’s floor prices because each land rarity earned a different but fixed amount of daily AXS, hence it was a pretty simple calculation to work out the value of land at least in terms of its discounted cash flow.
So while some might not be 100% satisfied with its new look, the end of land staking is what has stirred up most anger, rage-quitting and dumping of land from NFT holders who have had their passive income stopped, as well as seeing the price of their principle tanking.
Gaming content creator and Axie enthusiast Aftermath TV sums up his thoughts in a post on X, saying “It is also inevitable that some of the Land Working Group members will leave due to emotions and disappointments. People will go if they are not happy but for as long as Axie Infinity continues to deliver then new bloods will step up.”
Adding a more sober perspective to the heat he also says, “I’m really okay that the current Land Dump is happening… The most important thing right now is that people who will buy plots will be here long-term and they will really play the game.”
In response, Sky Mavis CEO Trung Nguyen comments, “Product releases and even products can be right or wrong, but that doesn’t change our commitment to Land.”
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