Asset-backed digital gold token Digix is helping Ethereum-based game Axie Infinity go gold.
The deal will allow for Axie Infinity players to receive in-game tokens that are backed and redeemable for physical, investment-grade gold.
Shaun Djie, COO and Co-Founder of Digix said:
“This collaboration with Axie Infinity is not only a major milestone for Digix—but for the growth of digital gold, highlighting its benefits across a range of industries including gaming. By providing an in-game currency that is backed by gold, a time-tested, safe-haven asset—we are remaining true to our vision of democratising access to gold and further showcasing the innovative use cases for digital gold.”
Real gold rewards will be offered as an in-game currency via Axie-DGX tokens which can be exchanged for Digix’s native token, DGX— where 1 DGX is equivalent to 100,000 Axie-DGX. Axie Infinity is a digital pet community that lets players battle, collect, trade and raise Axis, where players can power-up these fantasy creatures through minigames, quests, contests, and special in-game events. Powered by Ethereum, the Axie Infinity marketplace is transparent, liquid, and secure, enabling players to have complete ownership of their Axies and the ability to trade and sell them in a secure manner.
Starting from 20 July 2020 10 AM EST to 2 August 2020 10 AM EST, Axie Infinity players will have the chance to earn Axie-DGX tokens as they compete in this seasonal event. Axie-DGX tokens will be rewarded as a random in-game drop with a total prize pool of US $1500 Axie-DGX tokens.
Aleksander Leonard Larsen, COO and Co-Founder of Axie Infinity said: “This initiative elevates the play-to-earn narrative to new heights. For the first time, players can earn real gold by simply playing a game. User-focused experiments that benefit and reward users are key to furthering the adoption of blockchain technology.”
As part of this campaign, Bullionix will also craft limited edition 3D collectables in the form of Axie-themed non-fungible tokens (NFTs) that are backed by Digix’s investment-grade gold. Each Bullionix collectable has 0.25 DGX staked on-chain that belongs to the holder of the NFT. A 0.1 DGX minting fee is settled in the same transaction. These commemorative pieces are available to mint exclusively from 20th July until 9th August. Each NFT can then be interacted with in the Bullionix dapp, gifted or even resold on NFT marketplaces. Axie Infinity users are able to access their dashboard to transfer Axie-DGX into their personal wallet with the option to mint these limited edition collectables.
Digix, incorporated in Singapore in 2014, is the blockchain company behind the world’s first gold-backed digital asset class. Digix uses blockchain to account for the authentication and provenance of 99.99% investment-grade gold bullions. Physical gold bars are registered on the blockchain, and every 1 gram of physical gold registered is pegged to 1 DGX token. The physical gold bars are kept in vaults located in Singapore and Canada.
Digix is also the first company globally to send a live transaction on the Ethereum network and a pioneer in Singapore’s blockchain ecosystem—becoming the first batch of Tribe Accelerator program, a Singapore government-backed blockchain accelerator. Digix recently won the 2020 S&P Global Platts: Precious Metals Industry Leadership Award and was a finalist in the 2016 Singapore MAS Fintech Awards.
Axie Infinity is a Pokemon-inspired digital pet universe where players can battle, raise, and collect fantasy creatures called Axies. Axie highlights the benefits of blockchain technology through play to earn gameplay and a player-owned economy.
Also published on Medium.
