Axie Infinity (AXS), the popular blockchain game and metaverse project, has introduced a new initiative that gives its non-fungible token (NFT) owners the rights to create and sell authorized merchandise. This move comes as Sky Mavis, the developer of the game, launches a dedicated store for Axie Infinity products.

Owners of specific Axie NFTs now have the opportunity to produce 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 own Mystic and Origin Axies, can now use their NFT characters as mascots for businesses like cafes, comics, restaurants, or toy collections, thanks to the lifted restrictions.

Currently, commercial restrictions apply to less than 5,000 out of the 11.9 million total Axie monster NFTs, making up just 0.04% of all Axie NFTs, according to Axie marketplace data.

An official Axie Infinity merch store has been launched, featuring plush toys, figurines, and branded apparel inspired by the inaugural Axie mint in 2018. Buyers can pay using either cryptocurrency or fiat currency, with the first 5,000 purchasers receiving a complimentary Axie NFT and a chance to win one of three Mystic Axie NFTs.

In addition, 20% of the net profits generated from merchandise sales will be allocated to the Axie Community Treasury, supporting community-driven decision-making and progressive decentralization.

This initiative by Axie Infinity showcases the potential of NFTs as digital assets that can be used for various purposes, including generating passive income. It sets a precedent for other companies and platforms to explore similar ventures, potentially diversifying and enriching the NFT market.

A recent report from the International Monetary Fund (IMF) expresses optimism about Axie Infinity, projecting positive performance for the project by December 2023. Despite a period of subpar performance in 2023, analysts anticipate a recovery for AXS, surpassing $5 and reaching $7.30 by December.

Development activity for Axie Infinity has seen an increase, contributing to heightened investor confidence and aligning with the broader trend of growing interest in NFT-based gaming platforms and their associated cryptocurrencies.

At the time of writing, Axie Infinity is trading at $6.40, representing a 6.6% increase in the past 24 hours, according to data from CoinGecko.

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