Immutable and Polygon Labs will identify investment opportunities while King River will manage the investment process and deploy the capital across game studios and web3 infrastructure firms.
Solana Gaming Project MixMob Bags Stormtrooper NFT Licensing Rights
MXM, MixMob’s governance token on the Solana blockchain, operates the MXM Esports League and incentivizes players.
Axie Infinity Co-Founder Losses Over $10 Million In Hack, AXS Holds Firm
Two personal crypto wallets belonging to Jeff “Jihoz” Zirlin, the co-founder of Sky Mavis, the company behind the popular play-to-earn (P2E) game Axie Infinity, have been compromised, reports on February 23 show.
Following this hack, over $10 million worth of various crypto assets were stolen, primarily RON, the native token of Ronin Chain, the Ethereum sidechain designed explicitly for Axie Infinity.
Axie Infinity Co-Founder Losses Over $10 Million In Hack
According to Lookonchain data, the hacker got away with 3.2 million RON worth over $9.53 million. The co-founder also lost over $834,000 worth of Wrapped Ethereum (ETH). There were other small amounts of PIXEL, the native token of Pixels–a gaming platform; SLP, the coin priming Axie Infinity’s metaverse; and USDC, a stablecoin.
Zirlin held around 164 AXS worth less than $1,300. The hack has shown an unexpected holding pattern, especially among project founders. That the co-founder only held 164 AXS is strange, considering the role played in Axie Infinity. The P2E game has distributed billions of assets since its popularity peaked in the last bull cycle.
Stolen assets, Lookonchain data reveals, were reportedly converted to ETH and deposited into Tornado Cash, a crypto mixer whose co-founders have an ongoing court case in the United States.
In charges brought forward in August 2023, the prosecution team alleges that North Korean hackers used Tornado Cash to launder millions, if not billions, of dollars worth of stolen coins. Some of these tokens were from the Ronin hack, which lost over $600 million in March 2022.
Dedicated To Mission; RON And AXS Post Minor Losses
Zirlin confirmed the hack on X on February 23, emphasizing that it was “limited to my accounts.” The hack did not affect the Ronin chain or Sky Mavis operations. The co-founder also added that the compromised private keys were not connected to the company’s internal systems.
Zirlin said they have “strict security measures in place for all chain-related activities to assuage fears.” The co-founder also remains upbeat, assuring concerned crypto community members that the project will continue pursuing its mission of bringing “economic freedom” to all users.
So far, AXS and RON prices remain stable but lower, looking at the performance in the daily chart. AXS and RON have been edging lower since February 21, cooling off after sharp gains from early Q4 2023.
Sandbox’s SAND Slides, ApeCoin Steady Ahead of $125M in Unlocks
Token unlocks refer to the release of previously locked or restricted tokens into the market.
Web3 Gaming Company Saltwater Raises $5.5M Seed Funding
Saltwater closed its seed round on the heels of acquiring gaming developers Maze Theory, Nexus Labs and Quantum Interactive.
Gaming Gift Cards Are Like Crypto – and Not in a Good Way
In-game tokens, like V-Bucks on Fortnite, face UX problems like many Web3 platforms. Is there a role an open, shared “trust layer” for gaming payments?
Animoca-Backed Game Wallet Wars Delegates Release Decision to DAO Vote
The decision to launch Wallet Wars, a Web3 iteration of the 1970s arcade game Space Invaders, was taken by a vote of Balthazar DAO, not a management committe.
The Sandbox Aims To Make India Its Largest Market
Metaverse platform The Sandbox is aiming to make India its largest market within the coming 24 months.
Improbable sells gaming venture for $97M, shares 2024 metaverse predictions
The Web3 metaverse developer Improbable sold its gaming venture, The Multiplayer Group, as a part of its venture strategy for 2024.
Aurory’s USDC pool drained on Arbitrum’s DEX Camelot
According to initial reports and on-chain data, the attack targeted Aurory’s SyncSpace bridge, draining nearly 80% of the AURY-USDC pool’s liquidity.
Immutable's zkEVM to eliminate Web3 gaming gas fees
Immutable’s blockchain protocol will allow the game studio to cut out gas fees for users, which is widely cited as a significant barrier to Web3 gaming adoption.
Immutable's zkEVM to eliminate Web3 gaming gas fees
Immutable’s blockchain protocol will allow the game studio to cut out gas fees for users, which is widely cited as a significant barrier to Web3 gaming adoption.
Immutable's zkEVM to eliminate Web3 gaming gas fees
Immutable’s blockchain protocol will allow the game studio to cut out gas fees for users, which is widely cited as a significant barrier to Web3 gaming adoption.
How the crypto bull run can impact Web3 gaming beyond play-to-earn
Web3 gaming has remained unfazed by the bear season. But how does the expected bull run impact interest in blockchain-based games?
Animoca Brands to focus on creator economy, interoperability in 2024
CEO Robbie Yung said that while Animoca does not employ a specific allocation strategy nor an investment target, it will continue supporting new Web3 businesses and its portfolio companies.
Animoca Brands to focus on creator economy, interoperability in 2024
CEO Robbie Yung said that while Animoca does not employ a specific allocation strategy nor an investment target, it will continue supporting new Web3 businesses and its portfolio companies.
Animoca Brands to focus on creator economy, interoperability in 2024
CEO Robbie Yung said that while Animoca does not employ a specific allocation strategy nor an investment target, it will continue supporting new Web3 businesses and its portfolio companies.
Blockchain gaming market in North America is projected to reach $600B by 2030 — report
The current market is growing by a 21.8% CAGR, according to a report from Fortune researchers.
Blockchain gaming market in North America is projected to reach $600B by 2030 — report
The current market is growing by a 21.8% CAGR, according to a report from Fortune researchers.
Immutable expands Web3 gaming payment options with Transak integration
Immutable deploys Transak’s functionality into its zkEVM gaming development infrastructure, powering in-game cryptocurrency and fiat payment methods.