NFT Pokémon games back in business after losing millions in scams
Axie Infinitythe game to earn, decidedly exploitative, crypto Neopetshas reopened its proprietary Ronin blockchain bridge after inadvertently revealing users to a $ 600 million hack in March.
The hack was made possible by an exploitation in the bridge, which allowed funds to be transferred between the Ethereum and Ronin blockchains, and was the beginning of Axie Infinitybigger problems, as the game later suffered from the same refueling prices as the rest of the cryptocurrency at the end of the spring. In May came the utility symbol Smooth Love Potion (SLP), which is needed to buy and breed the game’s tubby “Axie” creatures, was worth $ 0.00. That is, if you rounded up.
As of this writing, SLP is still worth $ 0.00 if you round off to the nearest cent. And Axie Infinity the game sticks to the same premise that it first used to pull in (plummeting) couple-hundred-thousand-or-so users: Create a Ronin wallet (a must for games to earn cryptocurrencies), get three Axie NFTs for around $ 20make one Axie Infinity account, and download the game. After that you can fight against your axes as NFT Pokémonplay one of a handful user-generated satellite gamesand breed and sell Axies to earn SLP, which are not worth any real money, or the more valuable Axie Infinity Shards (AXS), which are valued at a tremendous value $ 14.70 at time of writing.
So the only thing that has changed Axie Infinitytheir efforts to be newNeopets is its June 28 decision to reopen the once rickety Ronin Bridge, which was out of service in the months following the hack. While out, users could still add crypto to Ronin wallets, however the process was less intuitive.
Axie Infinity showed signs of stress even before the huge robbery. Shortly before the developers took down the Ronin Bridge, users noticed Axie had become less profitable than it once was
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“The way the game is at the moment is very unprofitable,” a Reddit user said answered in a thread discussing Axie was “worth playing for money.” With small SLP wins and a stressful arena, your enemies give two [critical hits] In a row most of the time, it can be very bad for your mental health. “
By April, grossly underpaid players—often from the Philippineswhere average monthly income is about $ 800 USD—dropped out of the game galore due to falling returns. AxieThe goal, in part, has seemed to be to confuse people enough to make them believe it – it’s complicated and costly to both start playing the game and keep playing it. But for its ill-treated players, the $ 600 million hack and the declining belief in crypto revealed that Axie was not the transformative approach to work it presents itself as. Instead, it is an incredibly vulnerable economy that requires the labor of vulnerable people to continue to frolic.
Now the developers are trying to rebuild the players’ trust. According to the game Ronin’s newsletterthe renewed bridge has been revised three times – once internally, once with Verichains, and once with the blockchain security company CertiK. User funds are now supported 1: 1 by Ethereum (ETH) and USD Coin (USDC), and eternity says they have stuck to their commitment to recover 173,600 ETH and 25.5 million USDC lost in March exploitation.
56,000 of this ETH is packaged Ethereum (wETH) stolen from Axie DAO (decentralized organization) Treasury, which distributes funds to Axie communities and AXS holders. Axie Infinity says in its newsletter that it is working “on law enforcement to recover the funds,” and if “the funds are not fully recovered within two years, Axie DAO will vote on the next step for the Treasury.”
Except this, Axie Infinity says that develops Sky Mavis has fully refunded millions of lost coins, and users feel more optimistic about the game, which will introduce land acquisition this week after two years of dubious promises. The game will not change with the reopening of the Ronin Bridge, but now users may be more safely and easily exploited.
