The world of cryptocurrency and blockchain games met with both adversity and triumph as Axie Infinity celebrated its second birthday amidst a myriad of landmark events. Metaverse creator Sky Mavis introduced various features and modes to enhance interaction and improve the gaming experience. The Play-to-Earn game also marked significant growth with increased audience and being the most searched NFT. The bespoke Ronin Chain witnessed resurgence with active gamers, but also suffered a massive $600M exploit. Despite such setbacks, Axie Infinity’s value remains speculative with some predicting the AXS price succumbing to as low as 96% drop while others envisioning a future where it hits $10.
Render and Jupiter were identified as profitable crypto investments but Axie clinched the spotlight. The economic movement behind Axie spearheaded by Jeffrey Zirlin, allows players to earn in-game rewards and tokens, thus marketing a promise of economic freedom. However, the road to dominance wasn't smooth. The Axie co-founder reportedly lost $9.7 million to cyber theft, causing AXS price to dip amidst rising active addresses for the game.
Challenged by potential competitors like DeFi Kingdoms and Mavia blasting past 1M downloads, Axie stands on shaky ground. Yet, with commercial rights to NFT owners and new features introduced in Homeland Avatar Mode, Axie persists as a key player in the blockchain gaming arena. Reports of Sky Mavis’ chair planning to revive former web3 darling instils faith in the game’s future.
However, alleged SEC lawsuits labelling AXS as a security and thefts linked to North Korean hackers underline the inherent risks of the crypto world, potentially casting a long shadow over its prospects.
Axie Infinity News Analytics from Fri, 23 Jul 2021 07:00:00 GMT to Wed, 11 Sep 2024 13:40:14 GMT - Rating -1 - Innovation 4 - Information 8 - Rumor 3