Sky Mavis, the Vietnam-based company behind the breakout play-to-earn title Axie Infinity, announced on Tuesday a partnership with the CyberKongz non-fungible token (NFT) project to introduce a profile photo collection to the Ronin blockchain for the first time.
Disclaimer: This interview was conducted by Yehudah Petscher, the NFT strategist at Forkast Labs. Petscher has a brotherly relationship with one of the interviewees in this video, known as “Henry the Grape.”
See related article: New NFT Project Makes It Big; XRP and BTC are pulling up crypto
Quick Facts
- Sky Mavis, the operator of Ethereum-linked gaming sidechain Ronin, said in a press release that CyberKongz will hold its Genkai collection coin on Thursday at Mavis Market, one of two NFT marketplaces on the blockchain. The Mavis Market currently has two collections to trade, Doll Sidekick and Axie Chat Premium, both of which are NFTs used in blockchain games.
- Genkai is an anime-inspired art collection of 20,000 NFTs and an extension of the CyberKongz NFT series. After Thursday’s release, 4,000 Genkai NFTs will be available on Ronin’s Mavis Market, while the remaining 16,000 will be on Ethereum, which can be migrated to Ronin in the future.
- “CyberKongz will work with Ronin to develop a game with Genkai. This ambitious venture will seek to change the paradigm of Web3 IP in a gamified way,” said Myoo, the founder and artist of CyberKongz, in the press release.
- CyberKongz will also migrate its NFT collectible game, Play & Kollect, from the Polygon network to Ronin as part of the partnership.
- CyberKongz is the 26th largest NFT pool by sales, with its Ethereum-based pool generating more than US$209 million in secondary trading volume ever, according to data from CryptoSlam, the data arm of Forkast Labs. CyberKongz VX, an NFT avatar that can be used in gaming ecosystems such as Play & Kollect and The Sandbox, is the 52nd largest NFT collection by secondary sales with US$112.9 million.
- Sky Mavis’ Axie Infinity is the absolute leader in global secondary NFT sales volume, with historical revenues of nearly $4.246 billion. However, Axie’s secondary sales have fallen with the slump in the NFT market. It posted monthly revenues of $1,380 million in June, the lowest since January 2021, and just a fraction of its peak of $869.5 million in August 2021.
- The announcement comes on the same day that the Forkast 500 NFT, an index that measures the health of NFT market activity, hit its all-time low of 2,651.93 on July 25.
See related article: NFTs, where have the buyers gone?