The Axie Infinity team announced via Twitter on Thursday that MetaLend has deployed on Ronin Mainnet. MetaLend builds software that allows people to borrow and lend against NFTs. Metalend helps Axie Infinity players to take out loans against their in-game assets like axies and land directly from their Ronin wallets.
This latest development means that players can now access liquidity using their axies and staked land as collateral. In the future, players will even be able to play with their NFTs when collateralized. Plus, MetaLend will support staked AXS and RON.
Axie Infinity is a Pokémon-inspired digital pet universe built on the Ethereum blockchain, where anyone can earn token rewards through skilled gameplay and contributions to the ecosystem. AXS, the native token of the Axie Infinity ecosystem, is down by 2% today and currently trades at $11.14.