Axie Infinity
a.k.a. AXS
A blockchain game where players collect and battle NFT creatures, famous for its play-to-earn boom and bust.
In plain English
A blockchain game where players collect and battle NFT creatures, famous for its play-to-earn boom and bust.
Axie Infinity lets players own their creatures as NFTs and earn tokens for playing. In 2021 that turned it into a real income for some players, especially in the Philippines.
Then the token rewards lost value, new players dried up, and in 2022 a bridge connected to the game was hacked for hundreds of millions of dollars. It's the textbook case of how fast play-to-earn can flip into play-to-lose.
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