However, it soon retraced to a low of $1.8 by May 19, 2021.
A total of 29.7 million AXS were sold out of a maximum supply of 270 million, raising close to $3 million for the project.īuoyed up by the wider crypto market bull run and the Ronin sidechain launch in February 2021, AXS price rallied to breach $10 in April 2021. AXS priceĪlthough the Axie Infinity game was created in 2018, the AXS coin was launched in October 2020 through a public token sale, with AXS price set at $0.10 per unit. It features over 2.5 million daily players and billions worth of gaming assets traded on its native marketplace.įurthermore, with over 500 million in total value locked (TVL) in its smart contract, playing Axie Infinity has become the primary source of income for players in many developing countries. While the global gaming market has an extensive variety of NFT-based video games today, only a few have achieved the kind of staggering success that Axie Infinity has.
The game’s ecosystem is based on two ERC-20 tokens, Axie Infinity Shards (AXS) and Smooth Love Potion (SLP), both of which currently exist on the Ronin side-chain. Players collect, breed, manage, battle as well as trade NFT-based creatures called Axies. Created on the Ethereum blockchain, it is inspired by popular gaming titles like Tamagotchi and Pokemon.
ET on Friday, based on the latest data from CoinMarketCap.Developed in 2018 by Sky Mavis, a Vietnamese video game development company, Axie Infinity features amongst the most popular blockchain-based play-to-earn (P2E) online video games. It was an elaborate and well-planned attack, which according to a Senior Engineer of Axie, only took a fake job offer to materialize.ĪXS, the governance token of "Axie Infinity," was trading up 13.72% at $18.59 with a 24-hour volume of $479,571,429 as of 4:12 a.m. The "Axie Infinity" Ronin Bridge hack is considered the biggest loss in Ethereum's ecosystem this year. The representative also said, "At the time, we (Sky Mavis) understood that our position and options would be better the more AXS we had on Binance." She added, "this would give us the flexibility to pursue different options for securing the loans/capital required." Moore also labeled accusations about the nature of the transfer as "baseless." According to Moore, the funds were transferred from the co-founder's wallet so that short-sellers "would not be able to front-run the news." Kalie Moore, a representative of Sky Mavis, did not deny Bloomberg's claim and confirmed the report after the information company and publication shared its blockchain data discovery with the studio. It is worth noting that the announcement of the hack was made a week after the actual attack occurred, with the team closing access to the network only in the late part of June. The said transfer happened just three hours before Sky Mavis, the studio behind the hit game "Axie Infinity," revealed that its Ronin bridge was hacked. Sky Mavis/Handout via REUTERS Reuters / Sky Mavis In-game assets called 'Axies' are seen in this undated handout image from the blockchain-based game Axie Infinity, which is owned by Sky Mavis.
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