Binance first announced its 17th project on Axie Infinity (AXS) on Binance Launchpad in October of last year.
In its official statement, Binance stated that the event, which will last for 7 days, will take place in a lottery format and there are 14,850 tickets to be won in total.
To determine the number of AXS lottery tickets that will be awarded to each user at the end of the event, Binance took snapshots of users’ BNB balances for seven days. Finally, the 7-day BNB balance average was calculated.
Users were awarded 2,000 units of AXS coins for each lottery ticket. Each AXS token is also priced at $0.10. In this context, $200 worth of BNB was deducted from the Binance balance of users who won a ticket.
An AXS ticket that cost Binance users just $200 at this event is now worth more than $250,000. Investors who still hold this token, as they had such a low amount last October, have an unimaginable amount today.
AXS has become quite popular among crypto investors after a recent report published that it has more than 17,480 active AXS tokens. Besides, Coinbase Pro revealed that there are more than 1.5 million active users trading the AXS token on major exchanges such as Binance and KuCoin.