Someone took control of the blockchain’s validators to steal over $550 million worth of Ethereum and USDC. The Axie NFTs needed to play the game used to sell for a minimum of $600 apiece now, you can pick up a team of three for less than $60.Īxie’s woes intensified last month when Ronin Network, the Ethereum sidechain used to trade tokens on the game, suffered a major attack. In recent months, the game has struggled to hang onto its player base amid a declining crypto market.
However, issues with the game’s economy created a massive surplus of its SLP reward tokens, which made it less profitable and led to an exodus of the more money-motivated players. By spending a few hours a day on the game, players from developing countries like the Philippines found that they could earn more than double the minimum wage. It roared into the mainstream last summer, spawning a new genre of crypto games where players can “play to earn,” generating tokens with real-world value by spending time playing the game.Īxie mania hit peak levels in November as the game’s AXS token price hit an all-time high of $164, soaring from less than $10 just four months prior.
What Is Axie Infinity?Īxie Infinity is a game that revolves around collecting and battling with cute, puffy creatures called Axies. Crypto Briefing explores the early access version of Axie Infinity: Origin, an updated release of the popular play-to-earn game.
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