What’s changed in GameFi in the last month? – July Report

While the previous bull market saw hundreds of play-to-earn games launched, only a few were able to maintain a steady user base as the market declined. This became apparent in July, when activity continued to fall. However, the trying market conditions also highlighted the handful of titles that managed to stand out. Splinterlands is one…

Axie Infinity CEO moved funds to Binance before disclosing Ronin bridge hack

Axie Infinity CEO and co-founder Trung Nguyen moved $3 million worth of AXS tokens to Binance before disclosing the Ronin bridge exploit, Bloomberg News reported on July 28. Axie Infinity lost over $600 million to North Korea-linked hackers on March 29. The game developer temporarily suspended the operations of the Ronin bridge following the hack,…

Axie Infinity players are turning their backs on the platform

A recent article by Time followed the story of Samerson Orias, who, like many Filipinos during covid, had turned to Axie Infinity to supplement their income. But an unsustainable Play-to-Earn structure, plus the issues caused by the Ronin hack, has led to a mass exodus of Axie players from the once lucrative platform. Orias and…

GameFi sector down, but not out | June Report

While the Web3 GameFi sector continued to bleed users in June and see funding rounds slashed, several popular games have kept their token prices and user numbers relatively stable. Additionally, game platform BinaryX reversed its downward trend, creating a rare bear market breakout, while game developer Playful Studios raised a record amount for its battle…

Axie Infinity co-founder attempts to entice players back by saying “nature is healing”

Axie Infinity co-founder and CEO Trung Nguyen recently took to Twitter to inform the community that “nature is healing.” The fall of Axie Infinity At its peak, the Pokemon-inspired play-to-earn game was trouncing the competition. A chart posted by @WuBlockchain, from November 2021 showed Axie Infinity’s revenue was almost 3x higher than the next nearest…

NFTs and games remain intact amid coldest winter

While the coldest crypto winter toppled all areas of crypto, NFTs and blockchain gaming industries remain bullish. NFT trading volumes increased by 23%, while the blockchain gaming industry attracted record investments. The total market cap fell by 34% since the Terra disaster, which pushed the market into a winter. Since then, all areas of crypto…

What is the Ultimate Blue-chip Crypto Asset: BTC, NFTs, or Land?

One of the biggest changes to the crypto market today compared to the last bear market is the different types of assets that exist.  Instead of choosing between Dash, Litecoin, Ethereum, Bitcoin, etc., people can invest in NFTs and plots of digital land in the metaverse. Common sense indicates that these new, experimental assets are…

No Man’s Sky players invented a coin and hope to never trade it for real money

No Man’s Sky player community reacted to the game’s shortcomings by inventing and implementing their own in-game cryptocurrency. The Hub Coin runs on the Ethereum testnet Goerli, has no real-life value, and can’t be exchanged for real money. However, the community doesn’t mind. In fact, they want it to remain worthless. A member of the…

Finally, Axie Infinity’s Ronin Bridge reopens

After being offline for almost three months, Axie Infinity announced that Ronin Bridge is going live again with more security. The Ronin Bridge is open! • All user funds are fully backed 1:1 by the new bridge.• The bridge has undergone an internal audit and two external audits.• We are still on track to release…