Axie Infinity introduces innovative solution for monetizing NFTs
Axie Infinity (AXS), the popular blockchain game and metaverse project, has announced a groundbreaking initiative that grants commercial rights to its non-fungible token (NFT) owners to produce and sell authorized merchandise. This exciting development coincides with the launch of a dedicated merch store for the Axie Infinity intellectual property by Sky Mavis, the game’s developer. Sky Mavis has stated that owners of specific Axie NFTs will now have the opportunity to create and sell their own products, marking a significant step into user-generated content (UGC) and commercialization.
A select group of 4,877 Axie NFT holders, who possess Mystic and Origin Axies, now have the freedom to use their NFT characters as mascots for launching businesses. The Axie team suggests possibilities such as opening Axie-themed cafes, creating comics, starting restaurants, or establishing toy collections, thanks to the removal of restrictions. Currently, commercial restrictions apply to less than 5,000 out of the 11.9 million total Axie monster NFTs, which is only 0.04% of all Axie NFTs, according to Axie marketplace data.
To coincide with the holiday season, the official Axie Infinity merch store has been launched, offering Squishmallow-style plush toys, a $300 figurine, and branded apparel including a hoodie, t-shirt, and baseball cap. This collection takes inspiration from the inaugural Axie mint in 2018, where buyers acquired Axies without attached art, showcasing their NFTs solely through code.
Buyers have the option to pay using either cryptocurrency or fiat currency, and the first 5,000 purchasers will receive a complimentary Axie NFT and the opportunity to win one of three Mystic Axie NFTs. Additionally, fans in the Philippines who use the Grab app can earn Grab points and Axie merch discount codes by clicking on in-app ads that redirect to the Axie merch store.
For those who choose to pay with cryptocurrency, there are additional rewards that can be unlocked at different spending thresholds, such as $10, $50, $100, and $1,000. These rewards include a special badge, plushies, and various other incentives.
Furthermore, Sky Mavis plans to allocate 20% of the net profits from merchandise sales to the Axie Community Treasury. This treasury is dedicated to supporting 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 demonstrates the versatility and potential of NFTs as digital assets that can be utilized in various ways, including generating passive income. It is expected that this initiative will inspire other companies and platforms to follow suit, leading to a more diverse and prosperous NFT market.
