Crypto Gaming Axie Infinity Gained 184% at Month End

• AXS is trading at $11.116, down by 5.72%.
• Axie Infinity rallies this month.
• Sandbox and Axie Infinity incurred losses in 2022. 

The most popular and successful crypto game yet, Axie Infinity, a monster battlefield game based on the Ethereum mainnet, has recorded 2x profits after a long gap.

At the start of the year, Axie Infinity was trading at around $6.11. In mid-Jan, the price surged to a high of $13.92. Currently, AXS is trading at $11.116 (at press time), down by 5.72% in the last 24 hours. Axie infinity was affected by cyber-attacks and bankruptcies at the end of the year.

Ronin, specially designed for Axie Infinity, surged in price from $0.26 to $0.74, more than a 184% increase at the start of the year. According to TokenUnlocks, the next token-unlocking event of Axie Infinity will be on April 17.

In 2022, most of the cyber attacks carried out by the Lazarus group were on the Ronin Bridge, with the loss of 173,600 ether and 25.5 million USDC, a total worth of $625 million. In March 2022, the most successful crypto game collapsed after hacking millions worth of crypto assets by cyber attackers.

Trung Nguyen, CEO of Axie Infinity, highlighted in a 2020 whitepaper that “Ronin will continuously evolve over the years to serve the spirit and ethos of blockchain gaming. On the technical site, we are also looking into various solutions to further strengthen and scale Ronin.”

Why the crypto gamers Axie Infinity and The Sandbox faced losses in 2022

Metaverse adoption has slowed at the end of 2022. The crypto market was filled with cyber attacks, frauds, and bankruptcies that slightly impacted the popular NFT-based online game Axie Infinity (AXS) and Ethereum-based metaverse gaming platform The Sandbox (SAND).

According to the data from the website, the number of players of the Axie Infinity monster battlefield game developed by Vietnamese gaming studio Sky Mavis fell to about 432,001 at the end of December 2022. The popular game has lost 85% of its player base from last year.

In the past 24 hours, The Sandbox price has been down 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 declined gradually since then.

Nancy J. Allen is a crypto enthusiast and believes that cryptocurrencies inspire people to be their own banks and step aside from traditional monetary exchange systems. She is also intrigued by blockchain technology and its functioning.

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