Axie NFT Launches NFT Monetization
The blockchain game and metaverse project Axie Infinity (AXS) has begun issuing commercial rights to non-fungible token (NFT) owners that will allow them to produce and sell their authorized merchandise.
The announcement of the commercialization coincided with the game developer’s launch of a dedicated merch store for its Axie Infinity IP.
Axie Infinity has begun offering NFT owners commercial rights, issued as Official Merch Drops. The developer Sky Mavis has now unveiled a merch store for its Axie Infinity game IP. It will also allow some of the NFTs to be monetized by owners. The initiative will enable the NFT owners to create and sell their authorized non-fungible token merchandise. Axie Infinity NFTs are easily identifiable by their colorful axolotl-inspired characters. The new commercialization feature will only be available to the owners of certain NFTs.
The new step of the Axie NFTs is a major milestone for the developer in user-generated content (UGC) and commercialization.
The new measure will enable a small group of holders of the 4,877 Axie NFT, with Mystic and Origin Axies, to use their NFT characters as mascots for the launch of businesses. The Axie team is recommending various kinds of uses for such NFTs in businesses including launching Axie-themed comics, cafes, toy collections, and restaurants with the new monetization possibilities. The restrictions on monetization may be lifted for additional Axie NFT owners in the future.
We’re on a quest to change gaming forever. We’re a movement. The best movements are defined by the gear, the armor, the uniforms they wear into battle.
Today, we deliver on a dream we have long shared together.
Today, the Axie Merch Store is LIVE!
— Axie Infinity (@AxieInfinity) November 24, 2023
Axie Infinity’s commercial restrictions are currently applicable to just under 5,000 out of a total of 11.9 million Axie monster NFTs, making just 0.04% of all Axie NFTs, according to data from the Axie marketplace.
To coincide with the holiday season, Axie Infinity also launched its official merch store which features Squishmallow-style plush toys, brand apparel as well as a $300 figurine. The brand app 32arel includes a t-shirt, a hoodie, and a baseball cap. This collection has been inspired by Axie’s inaugural mint of 2018 which allowed buyers to own Axies without the attached art and to showcase their non-fungible tokens exclusively via a code.
Sky Mavis co-founder Jeffery Zirlin stated that the company was intent on leaning into UGC that the ownership allows but it wants to iterate this and do it in steps. Zirlin says the natural choice for beginning tests was Origins/Mystics as these are genesis collections.
Sky Mavis says buyers can opt to pay either with a fiat currency or cryptocurrency. Sky Mavis is promising the first 5,000 buyers a complimentary Axie NFT as well as an opportunity to win one of Mystic Axie’s three NFTs.
Axie Infinity fans in the Philippines with the Grab app will also get extra perks such as earning Grab points and Axie merch discount codes when they click the in-app ads which will redirect them to the Axie merch store.
Users who opt to pay via cryptocurrency can unlock extra rewards at various spending thresholds: $10, $50, $100, and $1,000. These also entail plushies, a special badge along with several rewards.
Sky Mavis is also planning to allocate 20% of net profits from its merchandise sales to the Axie Community Treasury. The treasury was formed to help support community-powered decision-making as well as the platform’s concept of progressive decentralization.
Axie Infinity’s move to monetize is a major shift in the NFT world and their potential utility and demonstrates the potential and versatility of non-fungible tokens as digital assets that can be put into disparate uses, including in income generation.
The drive to monetization could push other companies and platforms to monetize thereby creating a more prosperous and diverse non-fungible token market.
https://virtualrealitytimes.com/2023/11/27/axie-nft-launches-nft-monetization/https://virtualrealitytimes.com/wp-content/uploads/2023/12/Axie-Infinity-600x409.pnghttps://virtualrealitytimes.com/wp-content/uploads/2023/12/Axie-Infinity-150x90.pngBusinessNFTThe blockchain game and metaverse project Axie Infinity (AXS) has begun issuing commercial rights to non-fungible token (NFT) owners that will allow them to produce and sell their authorized merchandise. The announcement of the commercialization coincided with the game developer’s launch of a dedicated merch store for its Axie Infinity...Sam OchanjiSam Ochanji[email protected]AdministratorVirtual Reality Times
As promised, Mystic token gating has been removed for the figurine! ANYONE can now purchase one of these historic tributes to Axie's three original mascots.
This collectible also comes with a mirror Land item NFT in Axie Infinity: homeland.
— Axie Infinity (@AxieInfinity) November 25, 2023