Axie Infinity Gifting NFT Holders Commercial Rights in Merchandise
Axie Infinity has, in an announcement on Friday, November 24, indicated it is unveiling a merchandise store for select Axie non-fungible token (NFT) holders. The statement stated that the Axie NFT holders will exercise commercial rights in creating and selling merchandise.
The Friday announcement disclosed that the turn-based NFT game is set to commercialise the Axolotl-inspired characters to select 4877 Axie NFT holders to release the official merchandise. The statement indicates that such holders will monetise the merchandise, businesses and user-generated content (UGC) they create.
Sky Mavis developers disclosed that the select holders will leverage the Mystic and Origin NFTs with an additional lot set to benefit from similar capabilities in future.
Sky Mavis co-founder Jeffrey Zirlin iterated the desire to lean into the newly-found niche in UGC facilitated by the ownership in phases. He added that the choice of Origins/Mystics offered a natural platform, considering they constitute the genesis collections.
Lifting Restrictions for Mystic and Origin Collections to Allow Utilization of NFT Characters
Zirlin disclosed that lifting the restriction for the Mystic and Origin collections would allow the respective owners to leverage their NFT characters as the mascots to unveil their businesses. He echoed the disclosures by the Axie team that owners can launch Axie-themed comics, restaurants, cafes and toy collections.
A review of the recent activity shows that Axie Infinity only scrapped restrictions in 4877 from an aggregate of 11.9 million Axie Monster NFTs. This represents only 0.04% of the total Axie NFTs per Axie marketplace data.
The move by Sky Davis is timely, given the looming holidays, since an official Axie Infinity merchandise store exists. The store has listed a branded hoodie, Squishmallow-style plush toys, a baseball cap, and a t-shirt.
A closer scrutiny of the apparel identified as “>code:axie_” collection drew inspiration from the pioneer Axie mint traced to 2018 when individuals could acquire Axies missing the art attachment. Instead, the Axie NFTs featured a code.
Axie Infinity Optimising Merchandise Functionality
Zirlin reiterated that Axie Infinity targets optimising the functionality of merchandise, with the team already planning to scale the new shop. He indicated they tried several designs and prototypes before deciding on the initial launch collections. Nonetheless, he added that the team will implement some ideas in 2024.
The Sky Mavis statement clarified that the buyers can purchase the merchandise with crypto or fiat currency. Besides, it promises to award a free Axie NFT to the initial 5,000 buyers and an entry to win one of the trio of Mystic Axie NFTs.
The statement indicated that Philippines fans utilising the Grab application will earn points and Axie merchandise discount codes. The statement detailed that such will require the users to click on the in-application advertisements, redirecting them to the Axie merchandise store.
The statement indicated that those settling the merchandise using cryptocurrencies will unlock additional rewards classified in $1000, $100, $50 and $10 thresholds. Also, such users will receive special badges and plushies.
Sky Mavis to Allocate Earnings From Merchandise Sale
Sky Mavis revealed that it would allocate 20% of the net earnings from the merchandise sale to Axie Community Treasury. The developer explained that its creation targeted enhancing community-based decision-making while guaranteeing progressive decentralisation.
Sky Mavis’ statement outlined that the team also unveiled image files targeting twelve various Axies that are available freely online.
The move by Axie Infinity portrays efforts to cement its position as the most successful NFT-based game. Its dominance traces its popularity in 2021 to realising millions of active players and earning over $4 billion in NFT trading volume.
Sky Mavis has sustained efforts to build the Axie ecosystem even when play-to-earn has suffered subsiding momentum in early 2022. Similar efforts are directed towards nurturing the Ethereum-based Ronin sidechain network that has witnessed enormous adoption lately.
Axie’s approach towards making freer utilisation of IP mirrors the previous NFT collections, including CryptoPunks and Bored Ape Yacht Club by Yuga Labs. The two collections offer the owners commercial rights for certain NFTs they own. The approach has scaled to several real-world Ape-themed businesses featuring Ape Water branding, hot sauces and recently a California burger restaurant.
Editorial credit: FellowNeko / Shutterstock.com
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