Axie Infinity Transition to a New Game Mode After its Biggest Heist

Axie Infinity, a Play-to-Earn (P2E) gaming platform has transitioned to a new gaming mode dubbed as the Axie Infinity Origin. Following the aim of the Axie team to balance the SLP economy, they announced that the Smooth Love Potion (SLP) joins the Origin gameplay mode and will be removed from the classic (v2).

About Axie

Launched in 2018—-Axie infinity is a Vietnam-based non-fungible token (NFT) game, players of Axie can mint digital pets coined as “Axies” and pit it against other users in the battle ground. Tokens that are gained during the gameplay can be converted into Ethereum-based cryptocurrencies and be exchanged into physical currency. The massive hit of Axie, turned the cryptocurrency world upside down as it bridge over $11.3B in SLP from 2021. The sudden surge of Axie users skyrocketed in 2021 due to factors such as Ronin sidechain—created especially for Axie Infinity and manages all in-game and trade transactions that has made it easier for newbies to sign up, enabling even those without much prior expertise with blockchains to begin playing—and scholarship program in which gamers and clans have begun giving scholarships as a solution to the issue of players who cannot purchase the Axies since it has increased its monetary entry due the huge demand in the market.

Axie's Peak in 2021

As stated by CoinGecko‘s data in July 2021, the game made $102 million in profit over the past 30 days. In addition, the value of the AXS token, which is crucial to the game's economy, has increased dramatically. The coin started trading in July at $5.66 and has since increased by almost 469%, achieving a peak of $32.19. AXS token holders receive a share of the profits the system makes in addition to using the token in-game, making it an even more profitable investment. Though, it was mentioned that Axie’s demand is still unstable.

Axies fall？

The world's most popular cryptocurrency game experienced one of the biggest crypto heists ever on March 23. A hacker broke into Ronin, a blockchain that operates the game, and stole $620 million worth of cryptocurrency from registered users.

The breach, which went unnoticed for over a week, exposed Axie Infinity's security flaws and damaged the developer's credibility. Sky Mavis, swore to recover the stolen money and track down the perpetrator. However, the breach might also ruin the hundreds of thousands of Axie Infinity players, the bulk of whom reside in one of the world's poorest nations, whose incomes were already under pressure due to the game's rising popularity.

After the attack, Axie continues to find ways in recovering the lost funds and reputation in the crypto market. With that, they carry on promoting and improving Axies new game mode—Infinity Origin. After the announcement, 90% of Axie landowners had bet their NFTs to collect AXS token payouts from the new Origin edition of Axie Infinity, which includes a new battle system, graphic upgrades, and other refinements. The land staking option became live on June 30 in which the percentage has increased to 91%.

The value of ETH has dramatically dropped after the theft as a result of a wider crypto market downturn, Sky Mavis restored the bridge in late June and properly compensated consumers whose crypto assets were stolen. The developer continues to engage with authorities to retrieve the stolen funds from the hack after raising an additional $150 million to help with reimbursements.

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