Axie Infinity Releasing: Axie Infinity Lets Users Burn Their Axie NFTs

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Axie Infinity NFT character in front of Axie Infinity logo on blue background
Credit: Sky Mavis

Sky Mavis has launched a new Axie Infinity releasing feature that will allow Axie holders to burn their NFTs.

While burning is more traditionally associated with cryptocurrency, it isn't a totally new phenomenon to NFTs. However, Shiba Inu burns, Ethereum burns, and the Binance quarterly burns are the most well-known burns in crypto.

However, unlike these token or coin burns, the Axie Infinity burns - or releases - have some additional features that reward players with new items. Let's take a look at what it's all about.

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What Is Axie Infinity Releasing?

The Axie Infinity releasing event enables users to release their Axies to live independently in the Kingdom of Lunacia. In return, the released Axies fetch exclusive rewards for their owners, including special Lunar New Year land items.

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Axie Infinity's developer, Sky Mavis, stated that the releasing event of the game is an important component of an Axie's life and is key for economic balancing purposes. It said:

Releasing has always been an important part of our long-term plan as the Axie Infinity universe grows. This is a very significant aspect of Axie that will evolve and be fully rolled out over time. This is an initial experiment designed to test the releasing feature, gather data, and have fun!

While given the official name of releasing, this mechanic is not too dissimilar to cryptocurrency burning - the act of sending coins to a dead wallet address.

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As of January 21, players have released some 62,064 Axie NFTs.

You can burn Axies by going to the event page, or through the Axie Marketplace.

Axie Infinity Releasing Rewards

As per the announcement, these exclusive Lunar New Year items are cosmetic items that players will be able to embellish their land with to "show off" to other players in the game.

Sky Mavis also stated they will show these players took part in the historic first releasing even in Axie Infinity.

The announcement further included the loss of items that will be given as gifts under the category of "Lunar New Year exclusive land items." The items, ranging from Common to Rare, will include:

  • Assorted Firecrackers (35% chance)
  • Traditional Snack Box (35%)
  • Blossom Tree (20%)
  • Lucky Lantern (9%)
  • Crimson Tiger (1%)
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Each Axie released by the player will be eligible to get one of the gifts.

Axie Infinity Releasing Event Dates

Per the official announcement, the Axie Infinity First Releasing Event is set to run for a period of one month beginning from January 20, to February 20, 2022.

The Axie Infinity community on Reddit had a mixed reaction to the new releasing mechanic. While some users reacted positively, there was a concern that burning Axies would provide little benefits for those without land.

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"Looks interesting in principle. But will it be worth it to release Axies, especially for people who don't own land?" asked one user. "The question here is if the land item will be worth at least as much as a floor axie sometime in the future," said another.

One user also said it was "underwhelming since we don't actually know what land items will do."