Axie Infinity Raises Marketplace Fees to Reward Players with ‘Creator Codes’
3 min read
In a move to increase tokennomics, Axie Infinity launched a new program to share wealth with players. The main play-to-win game plans to increase its marketplace fees to 5.25% and distribute the extra revenue to Axie’s community of content creators, the project said last week.
Axie Infinity Raises Marketplace Fees
O rate increase will be released on March 7 along with the release of “Creator Codes”. When users transacting on the Axie marketplace provide a creator code, they collect 1% of the transaction amount. If a creator code is not provided, Axie Community Treasury will charge the full 5.25% fee on market transactions.
Axie says the marketplace fees increase is intended to “provide a sustainable source of funding for marketing and growth initiatives going forward.”
Kookoo Crypto TV, the collective’s community manager Yield Guild Games and social media influencer with more than 100,000 followers, said the introduction of incentives is “a good move for any game”. But he cautioned that the team must be selective about which creators they integrate.
“Some of them will abuse the system,” Kookoo told The Defiant. “They can cultivate ‘likes’ or cultivate a following on any social media and then pretend they are very popular, but actually the engagement is very low. They can also use clickbait or sponsored ads just to promote their creator code.”
He suggested that Axie introduce a verification process for creator codes. “If they’re going to do this right, they really need to onboard qualified content creators and give them rewards based on their activity or based on their engagement,” Kookoo said. “Game developers should place emphasis on equipping these new content creators who are aligned with their values and vision for their game.”
Quinn Campbell, marketing lead at Axie Infinity, told The Defiant that the application process for creators seeking a creator code “is still evolving based on community input.”
He added that the team is discussing basing the application and review process on factors “including follower count, Axie content portfolio (quality and quantity), overall fit, values alignment, application quality, and more.”
Axie predicts that the release of creator codes will encourage the proliferation of new social media content promoting the game. The team said its community creators are an important source of growth for the project, including contributions to “education, integration and culture”.
Labor of love
“Axie’s content creators worked hard to evangelize Axie,” Campbell said. “To integrate and educate new players and build and lead subcommunities. For most, this is a passion project that is combined with nine to five and other projects. It’s a difficult role that has largely been a labor of love.”
“It is very important that we build inclusive reward mechanisms for creators, as well as a clear path to economic sustainability in their creator careers… We are working closely with the community to discuss these options and select the best solution,” he added. . .
The news comes as Axie Marketplace has seen a decline in activity since January, with 30-day volume down by a third to 23,660 transactions from 27,400 users worth approximately $13.5 million, according to the company DappRadar .
Marketplace fees are one of two sources of revenue for the Axie Community Treasury. It also collects 0.5 Axis as a crafting fee when new Axies are created by players. Axie Community Treasury has amassed over 21 million AXS and 55,000 ETH worth over $1 billion at current prices.
Governance over the treasury is expected to be divested to AXS participants in the future.
Campbell noted that the staking system could see future updates designed “to give better rewards to those who added value to the Axie ecosystem before claiming,” adding that “there is still a lot of research and experimentation to be done in this aspect of governance.”
“Players who are not gamblers or interested in participating in governance can delegate their necessary “work” to other parties,” he continued. “This could lead to a future where guilds or corporations with large amounts of AXS will need to look for talented players who can guarantee an Axie score high enough to collect weekly income.”
