Axie Infinity co-founder attempts to entice players back by saying “nature is healing”
Co-founder and CEO of Axie Infinity Trung Nguyen I recently visited Twitter to let the community know that “nature is healed”.
Collapse of Axie Infinity
At its peak, Pokemon-inspired play-to-earn games have won the competition.Poster chart @WuBlockchainSince November 2021, Axie Infinity’s revenue has been nearly three times that of its next closest dApp, dYdX, at $ 191 million compared to the previous month.
Due to the knock-on effect, the AXS Governance Token approached ATH ($ 157.75) and the project seemed unstoppable.
However, all hell collapsed in March when it became clear that hackers were able to control some validators of the Ethereum sidechain (Ronin) where the game was run. This resulted in a loss of $ 615 million, running out of ETH and USDC tokens.
“The Ronin Bridge is used for 173,600 Ethereum and 25.5 million USDC. The Ronin Bridge and Katana Dex have been shut down.”
Recently, the cause of the hack has been revealed. Complex LinkedIn phishing scheme It contains a complex plan that feeds on senior engineers at Sky Mavis, the developer of Axie Infinity.
The plot contained several fake interviews, which eventually led to a generous job offer formally communicated via a PDF file. However, because the PDF file contains spyware, opening the file puts the engineer’s computer at risk. This provided an entry point assuming that a hacker would control four of the nine network validators.
Recently, with the reopening of the Ronin Bridge, developers have become keen to emphasize the security of users’ funds, subsequent audit procedures, and new “land staking” features.
Ronin Bridge has opened!
• All user funds will be fully funded 1: 1 by the new bridge.
• The bridge has undergone an internal audit and two external audits.
• This week we are still on track for the release of Land Stake.— AxieInfinity 🦇🔊 (@AxieInfinity) June 28, 2022
Will you come back to make it?
The March hack had devastating consequences for the project. The graph below shows that Axie Infinity’s daily sales peaked at $ 40.8 million on November 4, 2021 and then declined sharply.
This shows that users have lost interest in the game, even before the hack. There are several possible causes for this.First, you need a team of three Axies to play, and buying the cheapest one is about $ 1,000 at the time.
After that, there was also a drop in prices. Smooth love potion (SLP) In-game currency. Updates that significantly reduced daily SLP rewards did not solve the problem.
“For example, an average player of about 1.5kmmr can get 50 SLPs at the current price of $ 0.0268. This is a terrible return for an hour of gameplay.”
Still, to rebuild trust and start anew, Nguyen tweeted that “nature is healed.” This represents indicators of sales volume, downloads, and land staking, suggesting that things are improving.
22,000 Axies have been sold in the last 24 hours. It was 7,000 a few weeks ago.
The origin is growing rapidly in the new alpha season. 4,600 downloads yesterday.
The bridge is up. Land (90% bet) is releasing AXS.
Nature is healed. pic.twitter.com/AdNzi8x4cb
—Jiho.eth 🦇🔊 (@Jihoz_Axie) July 7, 2022
An important factor in making a comeback is the price of SLP.At peak times, SLP $ 0.40.. However, the current price is $.0.00403565There is downward pressure on the incentives to play the game.
It remains to be seen if land staking can significantly offset this pressure. In land stakeout, users stake out more buoyant AXS tokens for AXS rewards.
