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action or later. Please see Debugging in WordPress for more information. (This message was added in version 6.7.0.) in /home4/scienrds/scienceandnerds/wp-includes/functions.php on line 6114Source: https:\/\/www.theverge.com\/2022\/4\/8\/23015468\/axie-infinity-blockchain-nft-play-to-earn-game-economics-hack<\/a> Last year, Axie Infinity<\/em> was touted as one of the best candidates<\/a> for a mainstream blockchain app. The game, launched in 2018 by Vietnamese developer Sky Mavis, was a massive hit in the cryptocurrency world. It offered full-time job prospects to some players<\/a> and commanded an entry price of over $1,000 at its peak, while Sky Mavis itself was valued at $3 billion after a $152 million funding round led by Andreessen Horowitz. Even more impressively, Axie Infinity<\/em> was supposed to herald a new era of \u201cplay-to-earn\u201d gaming built around crypto tech.<\/p>\n A year later, Axie\u2019s<\/em> future looks rockier. <\/p>\n Sky Mavis\u2019 Ronin blockchain suffered a catastrophic hack<\/a> last week, losing over $600 million to unidentified hackers and putting players\u2019 funds in limbo as Sky Mavis froze Ronin transactions. But even before that, Sky Mavis was facing bigger questions about its long-term sustainability. Combining the freewheeling hype market of crypto with the complicated economic workings of a massively multiplayer game, Axie Infinity\u2019s in-game world has spent months trying to avert a financial crisis. And, as it attempts to reinvent itself with a new free-to-play game<\/a>, the situation offers a glimpse at what can happen when the hype hits its limits.<\/p>\n
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