- AXS is trading at $11.116, down 5.72%.
- Axie Infinity is coming together this month.
- Sandbox and Axie Infinity suffered losses in 2022.
The most popular and successful crypto game to date, Axie Infinity, a monster battle game based on the Ethereum mainnet, has seen a 2x profit after a long hiatus.
At the start of the year, Axie Infinity was trading around $6.11. In mid-January, the price jumped to a high of $13.92. AXS is currently trading at $11.116 (at press time), down 5.72% in the last 24 hours. Axie infinity was hit by cyber attacks and bankruptcies at the end of the year.
Ronin, specially designed for the Axie Infinity, rose from $0.26 to $0.74, a more than 184% year-to-date increase. According to TokenUnlocks, the next token unlock event for Axie Infinity will be on April 17th.
In 2022, the majority of cyber attacks carried out by the Lazarus group were on the Ronin Bridge, with a loss of 173,600 Ether and 25.5 million USDC, a total value of $625 million. In March 2022, the most successful crypto game collapsed after cyber attackers hacked crypto assets worth millions.
Trung Nguyen, CEO of Axie Infinity, noted in a 2020 whitepaper that “Ronin will continuously evolve over the years to serve the spirit and ethos of blockchain gaming. On the technical side, we are also considering various solutions to further strengthen and increase Ronin.”
Why Crypto Players Axie Infinity and The Sandbox Faced Losses in 2022
Metaverse adoption slowed in late 2022. The crypto market was filled with cyberattacks, scams, and bankruptcies that had little impact on the popular NFT-based online game Axie Infinity (AXS) and Ethereum-based gaming platform The Sandbox (SAND). .
According to website data, the number of players of Axie Infinity monster battlefield developed by Vietnamese gaming studio Sky Mavis dropped to about 432,001 at the end of December 2022. The popular game has lost 85% of its player base since last year.
In the last 24 hours, the price of The Sandbox has decreased by 1.5% with a trading volume of $91,401,574. At the time of the crypto market explosion in 2021, The Sandbox reached its all-time high of $8.38 and has been gradually falling ever since.
Nancy J. Allen is a cryptocurrency enthusiast and believes that cryptocurrencies inspire people to be their own banks and move away from traditional monetary exchange systems. She is also intrigued by blockchain technology and how it works.