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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]
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.
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.
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In March 2022, the Lazarus Group was found responsible for stealing $620 million worth of cryptocurrencies from the Ronin Network, a bridge used by the Axie Infinity game. [50] The FBI said "Through our investigations we were able to confirm the Lazarus Group and APT38, cyber actors associated with [North Korea], are responsible for the theft ...
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