Sky Mavis marketed the game with a " play-to-earn" model (also called "pay-to-play-to-earn" model) where after participants pay the starting costs, they can earn an Ethereum-based in-game cryptocurrency by playing. The game has an in-game economy where players can buy, sell, and trade resources they earn in the game. Players aim to battle, breed, collect, raise, and build kingdoms for their Axies. The game's setting is filled with creatures called Axies that players can collect as pets. Gameplay Īccording to the company's website, Axie Infinity is a competitive game with an " idle battle" system derived from games like Final Fantasy Tactics and Idle Heroes. The hackers were linked to Lazarus Group, funded by North Korea. In March 2022, hackers compromised the Ronin Network, stealing approximately US$620 million worth of cryptocurrency from the project. The game's secondary token, SLP, crashed in February 2022 amid a wider NFT and cryptocurrency crash, losing over 99% of its peak value.
The game's official Cryptocurrency is "Axie Infinity Shards/Token" or AXS for short. Īxie Infinity is built on the Ronin Network, an Ethereum-linked sidechain developed by Sky Mavis. In September 2021, most Axie Infinity players were from the Philippines. Sky Mavis charges a 4.25% fee to players when they trade Axies on its marketplace. These creatures can be bred and battled with each other within the game. Players of Axie Infinity collect and mint NFTs which represent axolotl-inspired digital pets known as Axies.
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It has been called 'a pyramid scheme that relies on cheap labor from countries like the Philippines to fuel its growth.' Axie Infinity is a non-fungible token-based online video game developed by Vietnamese studio Sky Mavis, known for its in-game economy which uses Ethereum-based cryptocurrencies.
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