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Axie Infinity is a blockchain game developed by Vietnamese studio Sky Mavis, [1] known for its in-game economy [2] which uses Ethereum-based cryptocurrencies. [3] It has been called 'a pyramid scheme that relies on cheap labor from countries like the Philippines to fuel its growth.' [ 4 ]
That caused a significant decline in XRP's market capitalization and created chaos on the markets. [2] [3] According to Bloomberg, in November 2019, Coinmarketcap introduced a Liquidity metric designed to combat fake trading volume. [4] In April 2020, Binance, a cryptocurrency exchange, acquired Coinmarketcap for an undisclosed amount.
Their shares grew by over 31% on their first day to $328.28, pushing their market cap to $85.8B. [37] Other cryptocurrencies' prices also sharply rose, then followed by losses of value during this period. In May 2021, the value of Dogecoin, originally created as a joke, increased to 20,000% of value in one year. [38]
Securities and Exchange Commission Chair Gary Gensler, who was aggressive in his oversight of cryptocurrencies and other financial markets, will step down from his post on Jan. 20. Gensler pushed ...
The Ronin public testnet will run until Jan. 18, when Axie Infinity’s new land system and related items will migrate over from its current sidechain, Loom Network.
This week, investors digested bitcoin's rally above $100,000, Intel's leadership shakeup, and monthly jobs data that keeps the Fed on track to cut interest rates.
Axie Infinity, released in 2018 by Sky Mavis, is an example of a "play-to-earn" game, where the game incentivizes players to purchase and then improve NFTs through in-game activities which are then resold to other players by the publisher, with the player receiving compensation for their work. In the Philippines, where the game was most popular ...
While Axie Infinity Shards (AXS) tokens, were created using an Ethereum smart contract developed by an unaffiliated third party, in order to give token holders certain governance rights over the game Axie Infinity. [5] In both cases, different tokenomic attributes are chosen to support the token's intended role.