CyberKongz will launch a new non-fungible token (NFT) pool, Genkai, on Axie Infinity’s Ronin Series on Thursday to boost volumes amid a broader downturn in the NFT market.
Axie players will receive one of 4,000 Genkai NFTs each for every mysterious Axie they own.
CyberKongz Genkai NFTs Eyes Piggyback Off on Axie’s Popularity
CyberKongz will mint 4,000 Genkai tokens on the Axie Infinity sidechain Ronin that links Ethereum. The assets will be available on Mavis Market.
In addition to Ronin Mint, CyberKongz will issue an additional 16,000 tokens in the monkey-themed pool on the Ethereum mainnet. Eventually, the company plans to develop its own Genkai game in partnership with Axie Infinity developer Sky Mavis.
the moves of CyberKongz comes with volumes dropping to around $260,000 in June from $48 million in October.
At the same time, Axies remains the best-selling group of all time. This is despite recent monthly sales of less than 1% of the group’s peak.
Daniel Allegri, CEO, Yoga Labs He said In the Bloomberg interview, he said that creating a culture on the blockchain is the company’s goal amid a broader slump in NFT sales. To that end, the company recently introduced a badge that identifies the true owners of Bored Ape Yacht Club NFTs, proving their stake in an exclusive community.
Learn here how to build an NFT community.
The future of Web3 games will start with marketplaces
Last week, Michael Sanders of Horizon Blockchain Gaming told BeInCrypto that second-generation Web3 games like those recently announced by Ubisoft will likely limit the role of blockchain to asset exchange.
In other words, much of the game engine will be located on traditional Web2 platforms such as cloud servers, but players will be able to buy and sell in-game assets through marketplaces similar to OpenSea. These marketplaces will provide an opportunity to recover in-game purchases previously written off as outrageous costs.
Sellable assets can be badges, cosmetic improvements, or skill upgrades, depending on the type of game. Revenue from user-generated improvements can be split between the game studio and the creator.
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Adhering to the Trust Project’s guidelines, BeInCrypto is committed to providing unbiased and transparent reporting. This news article aims to provide accurate and timely information. However, readers are advised to independently check the facts and consult with a professional before making any decisions based on this content.
