Axie Infinity

Axie Infinity
Developer(s)Sky Mavis
Engine
Platform(s)Windows
Android
macOS
iOS
ReleaseMarch 2018
Genre(s)NFT
Online game
Strategy game
Mode(s)Single player, PvP

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]

Players collect and mint non-fungible tokens (NFTs) which represent axolotl-inspired digital pets known as Axies.[5] These creatures can be bred and battled with each other within the game.[6] Sky Mavis charges a 4.25% fee to players when they trade Axies on its marketplace.[5][7]

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] In March 2022, hackers compromised the Ronin Network, stealing approximately US$620 million worth of cryptocurrency from the project.[10][11][12][13] The hackers were linked to Lazarus Group, funded by North Korea.[14]

  1. ^ Huong Le (21 February 2020). "Meet the Vietnamese developer behind blockchain game Axie Infinity". Tech in Asia. Archived from the original on 10 November 2021. Retrieved 11 August 2021.
  2. ^ Kruppa, Miles; Bradshaw, Tim (26 November 2021). "Crypto's hottest game is facing an economic maelstrom". Financial Times. Archived from the original on 17 July 2022. Retrieved 11 December 2021.
  3. ^ Gonzales, Gelo (23 August 2021). "What is 'Axie Infinity' and how is it different from traditional video games?". Rappler. Archived from the original on 28 June 2022. Retrieved 11 December 2021.
  4. ^ Cite error: The named reference Gach was invoked but never defined (see the help page).
  5. ^ a b "What does Axie Infinity's meteoric rise tell us about the play-to-earn game industry?". KrASIA. 10 August 2021. Archived from the original on 3 February 2022. Retrieved 30 March 2022.
  6. ^ Delic, Amelia J.; Delfabbro, Paul H. (2022). "Profiling the Potential Risks and Benefits of Emerging "Play to Earn" Games: a Qualitative Analysis of Players' Experiences with Axie Infinity". International Journal of Mental Health and Addiction. doi:10.1007/s11469-022-00894-y. S2CID 251323282.
  7. ^ Takahashi, Dean (11 May 2021). "Sky Mavis raises $7.5 million for NFT-based Axie Infinity game with backers like Mark Cuban". VentureBeat. Archived from the original on 7 April 2022. Retrieved 30 March 2022.
  8. ^ "Axie Infinity Shards". Axie Infinity. Archived from the original on 23 September 2022. Retrieved 25 August 2022.
  9. ^ Cite error: The named reference Ongweso Jr. was invoked but never defined (see the help page).
  10. ^ Cite error: The named reference Sigalos was invoked but never defined (see the help page).
  11. ^ Cite error: The named reference Takahashi hackers was invoked but never defined (see the help page).
  12. ^ Cite error: The named reference Hollerith was invoked but never defined (see the help page).
  13. ^ Kharif, Olga (29 March 2022). "Hackers Steal About $600 Million in One of the Biggest Crypto Heists". Bloomberg News. Archived from the original on 24 September 2022. Retrieved 23 September 2022.
  14. ^ Aaron Schaffer (14 April 2022). "North Korean hackers linked to $620 million Axie Infinity crypto heist". The Washington Post. ISSN 0190-8286. OCLC 1330888409. Archived from the original on 22 October 2022. Retrieved 20 December 2022.