South China Morning Post (SCMP) launches a new online marketplace to turn its newspaper archives into NFTs. The largest English media in Hong Kong partners with Animoca Brands to move into the metaverse space.
This comes after the NFT gaming giant received the backing from Blue Pool Capital, a family office of Alibaba founder Jack Ma and executive chairman Joe Tsai. Alibaba is the owner of the SCMP.
SCMP is partnering with the open gaming metaverse The Sandbox to recreate its media assets. The NFT marketplace, called ARTIFACT, will offer an NFT collection minted from historical moments drawn from the archive of its 118-year history.
SCMP will create its gallery of visual graphics in The Sandbox with new interactive games and experiences, such as the Kowloon Walled City and the Star Ferry.
Also, SCMP is joining The Sandbox’s virtual real estate world to build in the metaverse with LAND NFTs. LAND NFTs represent virtual real estate in The Sandbox metaverse. The Sandbox will hold a new LAND sale on July 22nd that allows players to purchase spots near SCMP’s project.
NFT Game Axie Infinity Generates $84M in One Month
NFT pet game Axie Infinity is currently raking in more protocol revenue than Ethereum and Bitcoin. Its revenue is more than the next 11 top-ranking dapps – including Uniswap, PancakeSwap, Aave, MakerDAO – combined.
According to Token Terminal, Axie Infinity raked in $84.9 million in funds for its treasury in the past 30 days. It has collected over $30 million in fees in the last week.
Axie Infinity’s revenue is generated via multiple streams: a 4.25% marketplace fee for sellers who sell Pokémon-like Axie creatures; a fee of 4 AXS, the game’s native token, for “breeding” Axies; and the sale of 3 entry-level Axies to every players to start.
Animoca Brands is the lead investor in Sky Mavis, the firm behind Axie Infinity, in 2018. Animoca Brands’ founder Yat Siu said the investment is about the team and its vision: “Sky Mavis always intended Axie Infinity to be able to supplement the income of people in developing economies.”
With its team being based in Vietnam, Axie Infinity was perfectly positioned to address the needs of the communities it was trying to reach, said Siu.
On the other hand, Polygon has launched Polygon Studios, to attract big brands and franchises looking to launch games and NFTs.
Polygon has over 500 dapps, including Aavegotichi, Decentraland and NFT marketplace OpenSea.
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