# Axie Infinity


By [Untitled](https://paragraph.com/@0xd9d30daea350e2ff22810dee1e2f12b786c8fa12) · 2023-01-11

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**_Axie Infinity_** is a [non-fungible token](https://en.wikipedia.org/wiki/Non-fungible_token)\-based online [video game](https://en.wikipedia.org/wiki/Video_game) developed by [Vietnamese](https://en.wikipedia.org/wiki/Vietnam) studio Sky Mavis,[\[1\]](https://en.wikipedia.org/wiki/Axie_Infinity#cite_note-techinasia-1) known for its in-game economy[\[2\]](https://en.wikipedia.org/wiki/Axie_Infinity#cite_note-:0-2) which uses [Ethereum](https://en.wikipedia.org/wiki/Ethereum)\-based cryptocurrencies.[\[3\]](https://en.wikipedia.org/wiki/Axie_Infinity#cite_note-rappler-3) It has been called 'a pyramid scheme that relies on cheap labor from countries like the Philippines to fuel its growth.'[\[4\]](https://en.wikipedia.org/wiki/Axie_Infinity#cite_note-gach-4)

Players of Axie Infinity collect and mint [NFTs](https://en.wikipedia.org/wiki/Non-fungible_token) which represent [axolotl](https://en.wikipedia.org/wiki/Axolotl)\-inspired [digital pets](https://en.wikipedia.org/wiki/Digital_pet) known as Axies.[\[5\]](https://en.wikipedia.org/wiki/Axie_Infinity#cite_note-:3-5) These creatures can be bred and battled with each other within the game. Sky Mavis charges a 4.25% fee to players when they trade Axies on its marketplace.[\[5\]](https://en.wikipedia.org/wiki/Axie_Infinity#cite_note-:3-5)[\[6\]](https://en.wikipedia.org/wiki/Axie_Infinity#cite_note-6)

In September 2021, most _Axie Infinity_ players were from the [Philippines](https://en.wikipedia.org/wiki/Philippines).[\[7\]](https://en.wikipedia.org/wiki/Axie_Infinity#cite_note-Pankratyeva-7)

_Axie Infinity_ is built on the Ronin Network, an Ethereum-linked [sidechain](https://en.wikipedia.org/wiki/Sidechain_\(ledger\)) developed by Sky Mavis. The game's official Cryptocurrency is "Axie Infinity Shards/Token" or AXS for short.[\[8\]](https://en.wikipedia.org/wiki/Axie_Infinity#cite_note-8) The game's secondary token, SLP, [crashed](https://en.wikipedia.org/wiki/Market_crash) in February 2022 amid a wider [NFT and cryptocurrency crash](https://en.wikipedia.org/wiki/Cryptocurrency_bubble#2021%E2%80%932022_crash), losing over 99% of its peak value.[\[9\]](https://en.wikipedia.org/wiki/Axie_Infinity#cite_note-vice-9) In March 2022, hackers compromised the Ronin Network, stealing approximately US$620 million worth of cryptocurrency from the project.[\[10\]](https://en.wikipedia.org/wiki/Axie_Infinity#cite_note-:4-10)[\[11\]](https://en.wikipedia.org/wiki/Axie_Infinity#cite_note-:5-11)[\[12\]](https://en.wikipedia.org/wiki/Axie_Infinity#cite_note-:6-12)[\[13\]](https://en.wikipedia.org/wiki/Axie_Infinity#cite_note-:7-13) The hackers were linked to [Lazarus Group](https://en.wikipedia.org/wiki/Lazarus_Group), funded by North Korea.[\[14\]](https://en.wikipedia.org/wiki/Axie_Infinity#cite_note-14)

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*Originally published on [Untitled](https://paragraph.com/@0xd9d30daea350e2ff22810dee1e2f12b786c8fa12/axie-infinity)*