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Axie Infinity is built on the Ronin Network, an Ethereum-linked sidechain developed by Sky Mavis. The game's official cryptocurrency is "Axie Infinity Shards/Token" or AXS for short. [8] The game's secondary token, SLP, crashed in February 2022 amid a wider NFT and cryptocurrency crash, losing over 99% of its peak value. [9]
Since the the Ronin Network announced the theft, its native cryptocurrency, Ronin (RON), has fallen 21% on the day from $2.30 to $1.80 per coin, according to Coinmarketcap.
The FBI said hackers linked to North Korea, including the infamous Lazarus Group, were behind the attack on Axie Infinity's Ronin Network in March. North Korea-linked hackers stole $620 million in ...
Stolen cryptocurrency volumes in 2022 were around $900 million, Redbord said, partly due to the more than $600 million stolen from a blockchain network linked to the online game Axie Infinity. The ...
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 ...
Tokenomics is a term that refers to the study and analysis of the economic aspects of a cryptocurrency or blockchain project, with a particular focus on the design and distribution of its native digital tokens. [1] [2] The term is a portmanteau of words token and economics.
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.
In October 2021, Valve Corporation banned blockchain games, including those using cryptocurrency and NFTs, from being hosted on its Steam digital storefront service, which is widely used for personal computer gaming, claiming that this was an extension of their policy banning games that offered in-game items with real-world value.
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