Axie Infinity Creator Sky Mavis Launches New NFT Marketplace On Its Ronin Network

Sky Mavis, the parent company for Axie Infinity play-to-earn NFT game, has introduced a new digital market platform for non-fungible tokens on its native blockchain, Ronin network. Users can now buy and sell NFTs listed on Mavis Market.

Sky Mavis Launches New NFT Marketplace

In a May 17 blog post, the Axie Infinity creator confirmed introducing a new NFT marketplace on the Ronin network. The announcement appeared a few hours after reports emerged that the web3 firm had secured approval to list its Axie Infinity play-to-earn game on Apple’s App Store.

1/ We’re thrilled to introduce Mavis Market: Ronin's first generalized NFT Marketplace!
Anyone, anywhere can now buy and sell NFTs listed on Mavis Market.

? | https://t.co/RN5mUMA7qd

Here’s everything you need to know ?? pic.twitter.com/JiZd37uuXK

— Ronin (@Ronin_Network) May 17, 2023

The new non-fungible token marketplace features a critical infrastructure for game studios & their associated NFT collections. The newly launched  Mavis NFT marketplace is suitable for trading, listing, and launching crypto and digital collectibles.

Sky Mavis has also launched its utility crypto token dubbed $Ron. Users can use initial coins, like AXS, WETH, and USDC, alongside the new $Ron to buy NFTs on the Mavis Market NFT marketplace. On Mavis Market, Ron will represent money.

Mavis NFT Marketplace Overview

The new Mavis NFT marketplace structure fees have been designed to align incentives between its creator Sky Mavis and Ronin network. The NFT marketplace will allow creators to set their own fees while getting a fixed fee for building and maintaining the marketplace.

Sky Mavis has assigned 0.5% of all NFT transactions to be paid to the Ronin Treasury. It’s the first time a Layer 1 blockchain like “Ronin” will receive a portion of a marketplace fee in the history of crypto.

In terms of creator royalties, Mavis NFT marketplace will enforce them right at the protocol level. According to the firm, the inability to enforce royalties for NFT creators has become an obstacle to sustainability for many NFT projects.

In this context, deployment of contracts on Ronin will require whitelist access, hence preventing mercenary marketplaces from deploying and eliminating minimum royalties for builders. Mavis NFT marketplace has already listed two NFT collections, ‘Axie Doll’ and ‘Sidekicks NFTs.’

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