Axie Infinity adjusts its market fee to 5,25%, to encourage the future growth of its player community.
Starting today, the market rate of Axie Infinity is set to 5,25%. Sky Mavis, the company that develops the game blockchain, stated that 1% of these fees will go to the creators as an incentive to drive the growth and development of the Axie Infinity player community in the future. The remaining 4,25% of the market fee will go to the blockchain game's Community Treasury, explained the company.
The market fee increase will create a sustainable source of funding to reward Axie Infinity creators for their work in growing the community, without having to negatively impact the flow of funds directed towards the community treasury. With this increase, the game developer Sky Mavis continues to delve into new ways to generate value and utility for its community of more than 3 million registered players worldwide. As the company explained, the goal is to support educational, cultural, content creation initiatives and the integration of new players into the popular blockchain game to grow the community.
“Increasing the marketplace fee will unlock the possibility for creators to be rewarded for growing the Axie Infinity community, which will benefit everyone in the ecosystem.”
Sky Mavis will create a creator code system to reward and align the game's incentives with the work of creators in the long term. The increase in the market fee follows the actions that the company has taken in recent months for the benefit of its global community of players.
It may interest you: The value of AXS and SLP, from Axie Infinity, skyrockets after the arrival of Season 20 of the blockchain game
Axie Infinity Creator Code
Jihoz, co-founder of Axie Infinity, commented on Twitter that the increase in the market fee to 5,25% is an important decision that impacts the entire community, both players and developers. In a series of tweets, Jihoz explained that Axie Infinity creators have been the central pillar of the blockchain game, creating educational and cultural content that makes Axie Infinity a much more fun, engaging, and rewarding game for the entire gaming community. However, much of this push was being made through sponsorships, which is why Sky Mavis has decided to create a creator code that allows creators to be directly rewarded based on their work and effort within the gaming ecosystem.
“This is a path to sustainability for creators to focus on Axie and Ronin-related content without having to sell or accept sponsorships.”, Jihoz explained.
The Axie Infinity co-founder also noted that the creation of a creator code was necessary to sustain the work of creators, as a one-time grant could not guarantee the necessary sustainability nor was it a decision that could be made arbitrarily from the Axie Infinity Community Treasury. Currently, this treasury has more than 21.000.000 AXS and more than 55.000 ETH, which represents a market value of more than $1.000 billion. However, community governance of this fund is not yet enabled. Sky Mavis noted that, eventually, it will be the AXS token holders who govern the blockchain game's Community Treasury.
Initially, the blockchain game market fee increase was scheduled for March 1.
Incentives for the community of creators
Most of the Play to Earn blockchain games out there currently have a marketplace fee between 2,5% and 10%, Jihoz explained. However, the value of these fees goes to the developers and marketplace owners. In the case of Axie Infinity, the marketplace fees will directly benefit the creators and the community at large, Jihoz explained. The Axie Infinity co-founder also detailed that for transactions that do not involve creator code, the Axie Infinity Community Treasury will receive the entirety of the fees – that is, 5,25%.
In the future, AXS holders will be able to vote to adjust the blockchain game's market fee again. Jihoz indicated that developers will evaluate the impact of this update in the coming months.
Axie Infinity has opened spaces on networks like Twitter and Discord where people can share their opinions and views on the development and direction of the game directly. While the changes are being implemented today, as planned by Sky Mavis, some users have expressed dissatisfaction at not having a governance platform to vote on important decisions like this.
Axie Infinity Origin
The new changes to Axie Infinity come as we approach the launch of Axie Infinity Origin, the new gaming experience Sky Mavis is preparing to introduce new gameplay mechanics, quests, NFTs, and more to the blockchain game.
Recently, digital asset investment firm Arca acquired two plots of digital land on Axie Infinity through its Arca NFT Fund. In this way, the fund guarantees its investors direct exposure to blockchain gaming assets. Arca NFT Fund includes AXS and SLP, the native tokens of Axie Infinity.
The land plots belong to Genesis Land, the rarest and best-positioned virtual lands in the Axie Infinity ecosystem. Arca noted that in the future, the value The value of this land will be determined by its scarcity, proximity, and utility. In late November 2021, a plot of land within this location in the Axie metaverse was purchased for $2,47 million, the highest sum of money paid for a single piece of virtual land thus far.
Continue reading: Bit2Me closes an alliance with Axie Infinity to grow its community in Spain, Portugal and Latin America
