“The marketplace fee can be adjusted again in the future, and as always, if we find a better solution and source of funds for this, we can adjust.”įollowing complaints, Sky Mavis announced late yesterday afternoon that it “will be pushing out the formal launch” of the creator code program to gather feedback from the community. “As a final note, I think marketplace fee is a subject that should be determined by governance once that is enabled,” he wrote. Remember, the Community Treasury belongs to the Axie community. + the fee in most of these examples are going to the core developers/marketplace owners rather than the community. The data below shows that 5.25% is well in-line for the NFT space. However, amid all of that, Zirlin also said that he believes that the marketplace fee should be set by the community when the functionality allows. He also suggested that Axie’s marketplace fee was still less than many NFT collections that trade on leading Ethereum marketplace OpenSea, when factoring in all fees and royalties. View from the topĪxie Infinity co-founder and Sky Mavis Growth Lead Jeff Zirlin tweeted a thread defending the fee hike, writing that he believes it was the most sustainable option to support creators who drive value to the ecosystem. Brycent, a leading Axie and play-to-earn gaming streamer and Twitter Spaces host, tweeted, “This is the start of something new and creators earning 1% of marketplace transactions is a huge win.” However, he cautioned that the model could have negative effects, such as increased shilling. Not everyone is down on the news, however. I think we should have voted with our DAO for this? That’s a more than 90% decline from Axie’s best month of trading volume last August-$848 million. Meanwhile, February was Axie’s worst month of NFT volume since May 2021, per data from CryptoSlam, with $82.5 million. But trading volume has fallen dramatically over the last three months, with both tokens-especially SLP-dropping significantly from their respective price peaks.Įarlier this month, Sky Mavis announced a series of changes to the token rewards model to lessen the amount of SLP being issued on a daily basis, with more changes to come.Īxie Infinity’s various metrics saw a short-lived bump following the announcement, but SLP is still down 95% from its peak. The rate increase comes amid an economic crisis for Axie Infinity’s unique play-to-earn model, which rewards players with crypto tokens for playing the game, but requires an investment in potentially pricey NFT assets to play the game.Īxie Infinity surged last summer and has generated billions of dollars in NFT sales, juicing the value of the game’s AXS governance token and SLP reward token in the process. With millions of players and an avid online community, Axie Infinity will bring a version of that model into the Web3 gaming space.įor players who don't input a creator code when shopping on the Axie marketplace, the entire 5.25% goes into the community treasury, which is still untapped and will be used for an array of marketing and growth initiatives around Axie Infinity. It’s a system familiar to fans of other top online games like Fortnite and Roblox, both of which have a model that rewards content creators with a cut of digital currency sales when their special code is used. The developer will institute a system that lets Axie players input a code from a certain content creator-such as a streamer or influencer-and that extra 1% will be paid to that creator. Why raise the fee? Sky Mavis said it’s primarily to reward community members who drive new players to the game.
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