Axie Infinity Unveils NFT Monetization Solution

Axie Infinity (AXS), the widely-played blockchain game and metaverse project, has unveiled a novel initiative, allowing its non-fungible token (NFT) owners the commercial rights to produce and sell authorized merchandise.

This move by Axie Infinity represents a significant shift in the world of NFTs and their potential use cases, demonstrating the versatility and potential of NFTs to serve as digital assets that can be used in various ways, including generating passive income.

The initiative could inspire other companies and platforms to follow suit, leading to a more diverse and prosperous NFT market.

IMF bullish on Axie Infinity as whales amass AXS
A recent report from the International Monetary Fund (IMF) expresses optimism about three cryptocurrencies. The report anticipates positive performance from these projects by December 2023.

Axie Infinity functions as a platform enabling gamers to engage in diverse games and trade NFTs for potential profits. Despite a period of subpar performance in 2023, analysts project a recovery for AXS, surpassing $5 and reaching $7.30 by December.

On Oct. 25, there had also been an increase in development activity, maintaining a level unprecedented throughout the month and contributing to heightened investor confidence. The surge in value reflects the growing interest and engagement of investors in the Axie Infinity ecosystem, aligning with the broader trend of increased attention on NFT-based gaming platforms and their associated cryptocurrencies.

Continuing a trend from the previous day. This uptick in significant transactions has been notable since Oct. 27, coinciding with the asset’s sustained bullish performance.

At the time of writing, Axie Infinity is exchanging hands for $6.34, representing a 6.38% increase in the past 24 hours, according to data from CoinGecko.