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Axie Infinity (AXS), the popular blockchain game and metaverse project, has introduced a novel initiative that allows its non-fungible token (nft) owners the commercial rights to produce and sell licensed merchandise.
This announcement coincides with the launch by Sky Mavis, the game’s developer, of a merchandise store dedicated to the Axie Infinity intellectual property.
According to Sky Mavis, owners of specific Axie NFTs will now have the opportunity to create and sell their products, marking a significant step towards user-generated content (UGC) and merchandising.
A select group of 4,877 Axie nft holders, who own Mystic and Origin Axies, are now free to use their nft characters as mascots to launch businesses. The Axie team recommends possibilities such as opening Axie-themed cafes, comics, restaurants or toy collections, thanks to the lifting of restrictions.
Currently, trading restrictions apply to fewer than 5,000 of Axie’s total 11.9 million monster NFTs, making up just 0.04% of all Axie NFTs, according to Axie marketplace data.
Coinciding with the Christmas season, Axie Infinity is officially announced. merchandising store was released, with Squishmallow-style plush toys, a $300 figure, and branded clothing, including a hoodie, t-shirt, and baseball cap. This collection is inspired by the inaugural Axie Mint in 2018where buyers purchased Axies with no art attached, displaying their NFTs solely through code.
According to Sky Marvis, buyers have the option to pay using cryptocurrency or fiat currency. The first 5,000 buyers are promised a complimentary Axie nft and a chance to win one of three Mystic Axie NFTs.
Additionally, fans in the Philippines who use the Grab app can earn Grab points and discount codes on Axie products by clicking on in-app ads that redirect to the Axie merchandise store, as mentioned in a statement.
For those who choose to pay with cryptocurrency, additional rewards can be unlocked at spending thresholds of $10, $50, $100, and $1,000. This includes a special badge, plushies, and various other rewards.
Additionally, Sky Mavis also plans to dedicate 20% of the net profits generated from merchandise sales to the Axie Community Treasury. This treasury is established to support community-driven decision making and the concept of progressive decentralization.
This move by Axie Infinity represents a significant shift in the world of NFTs and their potential use cases, demonstrating the versatility and potential of NFTs to serve as digital assets that can be used in a variety of ways, including generating income. Passives.
The initiative could inspire other companies and platforms to follow suit, leading to a more diverse and prosperous nft market.
IMF Bullish on Axie Infinity as Whales Accumulate AXS
A recent report from the International Monetary Fund (IMF) expresses optimism about three cryptocurrencies. The report anticipates positive performance of these projects by December 2023.
Axie Infinity works as a platform that allows players to participate in various games and trade NFTs for potential profits. Despite a period of poor performance in 2023, analysts project a recovery for AXS, surpassing $5 and reaching $7.30 in December.
On October 25, there was also an increase in development activity, maintaining an unprecedented level throughout the month and contributing to increased investor confidence. The increase in value reflects growing investor interest and engagement in the Axie Infinity ecosystem, aligning with the broader trend of increased attention to nft-based gaming platforms and their associated cryptocurrencies.
Continuing with the trend of the previous day. This uptick in major transactions has been notable since October 27, coinciding with the asset’s sustained bullish performance.
At the time of writing, Axie Infinity is changing hands for $6.40, representing a 6.6% increase in the last 24 hours, according to data from CoinGecko.
