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While Evans hasn’t directly lost any money as a result of the hack (he still holds the same amount of in-game currency as he did before the breach), he and other players cannot withdraw cryptocurrency from the game while Axie Infinity and law enforcement investigate the hack and determine that its network is stable.Įvans said he was frustrated with what he saw as a slow reaction from the company, which first acknowledged the breach six days after the theft. The company vowed to reimburse lost funds, and Sky Mavis said Wednesday that it had raised $150 million from investors to help pay back its players. Axie Infinity's website boasts that its marketplace has facilitated $3.6 billion in transactions, and the game has drawn in around 2 million users per day.īut that economy was rocked in late March when unidentified hackers managed to steal assets worth around $625 million from a subsidiary of Vietnamese gaming studio Sky Mavis, the company that runs Axie Infinity. This trend allows users to combine a love of NFTs, cryptocurrency and nostalgic game-play. But what might sound like a relatively simple game has emerged as one of the most popular and lucrative of what are called play-to-earn games. Axie Infinity is part of a new trend in gaming, called play-to-earn. It's primarily focused on turn-based battles, either against computer-controlled Axie teams or live opponents over the Internet. The game runs on the Ethereum blockchain with the help of Ronin, a sidechain that helps minimize fees and transaction delays. Evans has spent the past eight months building up his squad of Axies, animated monsters that many (including Evans) compare to the popular Nintendo Pokémon franchise, wherein players pit their candy-colored monsters against one another. Axie Infinity sees you collect cute monsters to battle with.