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<ul class="summary-list"><li>Axie Infinity's axs token has surged 44% since it revealed plans to cut the supply of Smooth Love Potion tokens.</li><li>The 'drastic' changes will halve the creation of SLPs by making it more challenging to earn the tokens.</li></ul>Axie Infinity's governance token, axs, surged more than 40% after the leading <keyword id="11919795" type="UNKNOWN" weightage="60" keywordseo="nft" source="Orion">NFT</keyword> game said it's bringing in updates to eliminate two ways people can create play-to-earn tokens.The upcoming Season 20 release will include several changes aimed at rebalancing the economics of the game, <a href="https://axie.substack.com/p/upcoming-season-20-and-economic-balancing">the Axie Infinity team said</a>.These changes mainly affect the games play-to-earn token Smooth Love Potion, or SLP. Players will no longer be able to earn these by taking part in daily quests and playing adventure mode, Axie said."The daily quest, in principle, was great to encourage people to play everyday, but it's now become a mass emission mechanism for SLP. By removing the daily quest, we are able to reduce issuance by around 45 million SLP per day," it said in the latest edition of its newsletter, The Lunacian. People playing the game can collect creatures called Axies, represented by NFTs, that they can put into battle. The NFTs can be bought and sold on the Axie Infinity Marketplace, at a wide range of value. With the upcoming changes, the supply of SLP will drop by up to 56%, making them more scarce. As SLP tokens are needed to breed new Axies from old ones, that should make the NFTs in shorter supply, too — which has helped lift the price of the axs token they are traded in.The price of an axs token has risen 44% to $69.28 at last check Monday, from $47.80 around the time of the Axie news Thursday, according to <a href="https://coinmarketcap.com/currencies/axie-infinity/">CoinMarketCap data</a>.Meanwhile, SLP went up from $0.009 on Thursday to $0.016 on Monday, up 27% in the past 24 hours, <a href="https://coinmarketcap.com/currencies/smooth-love-potion/">according</a> to CoinMarketCap.Axie Infinity <a href="https://markets.businessinsider.com/news/currencies/ethereum-axie-infinity-cryptocurrencies-tokens-slp-axs-markets-2021-8">took off in 2021</a> as play-to-earn games grew exponentially, in tandem with the <keyword id="11893898" type="UNKNOWN" weightage="60" keywordseo="crypto" source="Orion">crypto</keyword> market, and axs <a href="https://markets.businessinsider.com/news/currencies/play-to-earn-crypto-axie-infinity-business-model-gaming-value-2022-1">rose by 18,000%</a> throughout the year. The Axie team said the game's economy requires change to ensure its long-term viability."We know that this is painful medicine. The Axie economy requires drastic and decisive action now or we risk total and permanent economic collapse. That would be far more painful," it said.The updates also include the creation of a $6 million prize fund, and changes to the games rewards structure. In season 19, Axie gave out 3,000 axs tokens to users in the top 1,000 gamers on the leaderboard. In the upcoming season, this amount has increased to 117,676 for the top 300,000 leaderboard slots. "Put simply, we've prioritized growth and on-boarding millions. Without this approach, it's likely that Axie would have remained a small, niche game with a few thousand players," Axie said.

Axie Infinity's native token axs soars more than 40% after the game cuts back on supply of play-to-earn tokens and increases prize pool to $6 million

<ul class="summary-list"><li>Crypto exchange <keyword id="11896045" type="UNKNOWN" weightage="60" keywordseo="binance" source="Orion">Binance</keyword> has recovered about $6 million stolen in March from <keyword id="11971138" type="UNKNOWN" weightage="60" keywordseo="axie-infinity" source="Orion">Axie Infinity</keyword>'s Ronin Network.</li><li><keyword id="12250622" type="UNKNOWN" weightage="60" keywordseo="binance-ceo-changpeng-zhao" source="Orion">Binance CEO Changpeng Zhao</keyword> said part of the funds from the Axie hack made it into 86 accounts. </li></ul>Binance, the world's largest cryptocurrency exchange, has recovered nearly $6 million from a North Korean group suspected to be behind a $620 million hack of the popular play-to-earn game Axie Infinity. That's according to Binance CEO Changpeng Zhao, who addressed the seizure <a href="https://twitter.com/cz_binance/status/1517385438469791749">in a Friday post on Twitter</a>. "The DPRK hacking group started to move their Axie Infinity stolen funds today. Part of it made to Binance, spread across over 86 accounts. $5.8M has been recovered," he wrote, referring to the Democratic People's Republic of Korea.Zhao didn't specify names attached to the 86 accounts potentially involved in the crypto heist. But last week, the US Federal Bureau of Investigation said hackers linked to the North Korea-backed Lazarus Group were <a href="https://markets.businessinsider.com/news/currencies/crypto-heist-axie-infinity-hackers-north-korea-stole-620-million-fbi-2022-4">behind the theft of $620 million in cryptocurrency from Axie Infinity</a>. Axie Infinity is a non-fungible token-based game that let players earn in-game currency that can be <a href="https://www.businessinsider.com/crypto-game-axie-infinity-token-surge-nft-craze-opensea-altcoins-2021-8">converted to real-world currency</a>. In late March, hackers <a href="https://markets.businessinsider.com/news/currencies/crypto-hack-ronin-network-heist-cybercrime-cryptocurrency-axie-infinity-polynetwork-2022-3?utm_medium=ingest&amp;utm_source=markets">targeted Axie Infinity's blockchain project called Ronin Network</a> which allowed users to transfer crypto in and out of the game. Binance earlier this month <a href="https://markets.businessinsider.com/news/currencies/axie-infinity-binance-150-million-nft-crypto-hack-sky-mavis-2022-4">led a $150 million funding round</a> to restore some of the funds stolen in the hack, said Sky Mavis, the Vietnam-based developer behind Axie Infinity. Axie Infinity earlier this year logged <a href="https://markets.businessinsider.com/news/currencies/blockchain-gaming-metaverse-axie-infinity-nft-crypto-cryptocurrency-ethereum-gamer-2022-2?utm_medium=ingest&amp;utm_source=markets">$4 billion in NFT sales</a> and had more than 2.8 million players logging on every day.

Binance CEO says the crypto exchange seized $5.8 million from a North Korean network behind a recent $620 million Axie Infinity hack

<ul class="summary-list"><li>Nearly 60% of American and UK-based video game developers are starting to use blockchain technology, according to a study released Wednesday. </li><li>About half are incorporating NFTs into their games, respondents said in a study from Stratis. </li></ul>Blockchain technology is accelerating as a go-to foundation for video game developers, with the play-to-earn model growing in popularity, according to a survey released Wednesday. 58% of 197 video-game developers surveyed in the US and UK were beginning to use blockchain technology, and 47% have started to incorporate non-fungible tokens, or <a href="https://markets.businessinsider.com/news/currencies/nft-trading-volume-q3-crypto-blockchain-snoop-dogg-axie-infinity-2021-10">NFTs, in their games,</a> said <a href="https://www.prnewswire.com/news-releases/video-game-developers-reveal-overwhelming-appetite-for-blockchain-and-nft-technology-in-a-new-research-study-from-stratis-301420448.html">blockchain platform Stratis in a study</a> it commissioned and that was carried out by market research firm Opinium. NFTs are digital representations of artworks and collectibles that exist on a blockchain ledger, similar to <a href="https://markets.businessinsider.com/currencies/btc-usd">bitcoin</a> and other cryptocurrencies. Game developers, at a rate of 57%, were most interested in decentralized finance, or DeFi, or GameFi in terms of blockchain capabilities. GameFi, a combination of DeFi and NFTs, offers financial incentives for people to play video games and is attracting mass attention from the crypto community. <a href="https://markets.businessinsider.com/news/currencies/top-nft-collection-q3-axie-infinity-crypto-gaming-expands-2021-10">Axie Infinity is currently the most popular play-to-earn game</a>, with the model allowing users to make real money by earning tokens, creating NFTs, and selling them. The Sandbox is another one, <a href="https://markets.businessinsider.com/news/currencies/metaverse-nft-startup-sandbox-funding-softbank-crypto-2021-11">allowing gamers to create virtual worlds</a> in an ethereum-based metaverse and monetize digital assets. <keyword id="11971138" type="UNKNOWN" weightage="60" keywordseo="axie-infinity" source="Orion">Axie Infinity</keyword> has drawn in more than <a href="https://www.businessinsider.in/investment/news/openseas-nft-trade-quadruples-to-10-billion-in-under-three-months-but-axie-infinity-continues-to-be-the-crowd-favourite/articleshow/87609137.cms">$3 billion in trading volume </a>since its launch in March 2018. It's gained in popularity particularly in <a href="https://www.businessinsider.com/crypto-game-axie-infinity-token-surge-nft-craze-opensea-altcoins-2021-8">developing countries hard hit by the COVID-19 pandemic</a>. 54% of the Stratis survey respondents said they see rewarding players with real-world value as a key use case for blockchain in games. Innovation and "more interesting game play" were the reasons behind 61% of respondents saying they see blockchain as valuable for the <keyword id="12507548" type="UNKNOWN" weightage="60" keywordseo="videogame-industry" source="Orion">videogame industry</keyword>."We commissioned this research to solidify what we already assumed - that blockchain and NFTs are the future of video games," said Statis CEO Chris Trew in a statement.

Play-to-earn crypto games are gaining popularity among developers, with nearly 60% surveyed saying they are utilizing blockchain in game design

What 'actually' happened in the world of crypto in March?

<ul class="summary-list"><li><keyword id="11893898" type="UNKNOWN" weightage="60" keywordseo="crypto" source="Orion">Crypto</keyword> exchange <keyword id="11930688" type="UNKNOWN" weightage="60" keywordseo="ftx" source="Orion">FTX</keyword> will partner with <keyword id="6357332" type="UNKNOWN" weightage="60" keywordseo="gaming" source="Orion">gaming</keyword> companies to integrate <keyword id="11901075" type="UNKNOWN" weightage="60" keywordseo="nfts" source="Orion">NFTs</keyword> and <keyword id="11902216" type="UNKNOWN" weightage="60" keywordseo="blockchain" source="Orion">blockchain</keyword> into their titles.</li><li>Players will own the digital assets they have earned, and can transfer their investments outside the games, FTX said.</li></ul>Crypto exchange FTX's US affiliate is launching a new gaming division that will offer "FTX-as-a-service" to games publishers that want to integrate NFTs and blockchain into their titles.The initiative is a crossover between crypto and gaming, according to Brett Harrison, CEO of <keyword id="11930690" type="UNKNOWN" weightage="60" keywordseo="ftx-us" source="Orion">FTX.US</keyword>."As game studios seek ways to bring ownership, transferability, and price discovery to their in-game economies, we intend to partner with them to provide backend exchange technology," he said in a <a href="https://twitter.com/Brett_FTXUS/status/1495833435276988419">tweet</a> Monday.The new gaming division is pitching its platform at companies and projects looking to step into <keyword id="12461337" type="UNKNOWN" weightage="60" keywordseo="web3" source="Orion">web3</keyword>, the next iteration of the internet often linked to metaverses. Play-to-earn crypto games are gaining in popularity among developers, and <a href="https://markets.businessinsider.com/news/currencies/play-to-earn-crypto-videogames-popularity-developers-nft-axie-study-2021-11">nearly 60% of US and UK-based game builders have started to incorporate blockchain technology</a>, according to a November study by Stratis. About half are using NFTs in their gameplay, it found.These crypto games reward players with digital in-game assets such as NFTs, which can then be bought and sold — but these can be locked inside the game's ecosystem.Amy Wu, head of FTX Ventures &amp; Gaming, <a href="https://twitter.com/amytongwu/status/1495834891858100232">said in a tweet</a> that FTX wallets would allow people to own the assets they have earned. It could do this for many as 2 billion gamers in the future, the company believes."There's a future where two billion gamers get to own what they earn, and we want to help build it," the company<a href="https://twitter.com/FTX_Official/status/1495846868382896145"> tweeted</a>."We also believe that the power of blockchain technology can enable users to invest in their games in ways that carry over to worlds *outside* of in-game economies, including potential transferability of these investments to other games," <a href="https://twitter.com/Brett_FTXUS/status/1495833435276988419">Harrison said</a>. The all-time total of NFT sales on crypto metaverse game <a href="https://markets.businessinsider.com/news/currencies/blockchain-gaming-metaverse-axie-infinity-nft-crypto-cryptocurrency-ethereum-gamer-2022-2">Axie Infinity broke through $4 billion</a> on Monday, according to data from CryptoSlam. It was the first NFT collection to reach that level, with almost twice the volume the just over $2 billion racked up by the CryptoPunks collection of ape avatar NFTs.The NFT market overall has seen <a href="https://markets.businessinsider.com/news/currencies/nft-market-41-billion-nearing-fine-art-market-size-2022-1?utm_medium=ingest&amp;utm_source=markets">a surge</a> in interest and investment over the past year. It is expected to be worth more than $35 billion in 2022, and over $80 billion in 2025, according to research by Jeffries. <a href="https://www.businessinsider.com/nft-meaning?utm_medium=ingest&amp;utm_source=markets">NFTs</a> are unique digital tokens that represent an asset, such as a piece of audio, video or even artwork and virtual real-estate.

FTX has set up a crypto gaming unit to help web3-curious publishers bring NFTs to their games

<ul class="summary-list"><li>FTX's collapse shows that crypto contagion isn't over and the industry has transparency issues, according to EY's blockchain chief Paul Brody.</li><li>Brody noted that transparency claims made by crypto firms were often "difficult to test," which makes the industry an "insider's game."</li></ul>FTX's collapse shows that crypto contagion isn't over, and the lack of transparency in the industry means crypto is an "insider's game," according to EY's head of blockchain Paul Brody."We're definitely not done with the contagion," Brody said in an interview with <a href="https://www.youtube.com/watch?v=_q63-C3BQRc">CNBC</a> on Tuesday. "People said, crypto is going to be better because it's going to be transparent and there's no politically motivated central bank in this ecosystem. It's turned out to be quite the opposite. Crypto is extremely non-transparent."That's been exposed with the collapse of prominent crypto firms this year, with companies like <a href="https://markets.businessinsider.com/news/currencies/luna-terra-stablecoin-price-crypto-crash-dollar-2022-5">Terra Luna</a> and Sam Bankman-Fried's FTX declaring bankruptcy, setting off a domino effect of other collapses in the industry.FTX's bankruptcy, in particular, revealed <a href="https://markets.businessinsider.com/news/currencies/ftx-bankruptcy-filing-crazy-details-sam-bankman-fried-crypto-exchange-2022-11">chaotic record-keeping</a> within the crypto exchange and <a href="https://markets.businessinsider.com/news/currencies/ftx-bankruptcy-purchase-sam-bankman-fried-bahamas-properties-luxury-homes-2022-11">extravagant purchases</a> using company funds, <a href="https://markets.businessinsider.com/news/currencies/ftx-investor-sam-bankman-fried-crypto-empire-markets-collapse-binance-2022-12">rattling the trust</a> of its former users.But the problem is deeper than just <a href="https://markets.businessinsider.com/news/currencies/crypto-crash-bitcoin-stress-test-weak-firms-celsius-three-arrows-2022-6">bad actors in the industry</a>, Brody said. Users often don't have the ability to fully evaluate crypto firms for themselves, even when businesses are transparent with their algorithm. He noted that his own team finds transparency claims among crypto firms "difficult to test and follow through.""In some cases, that's absolutely by design," he said. "You follow all the rules, but the rules are complicated, and so therefore it's an insider's game."Brody predicted customers would start to look to firms in the space that they could trust and were inspected by regulators, adding to a chorus of market commentators who have <a href="https://markets.businessinsider.com/news/currencies/kevin-o-leary-ftx-crypto-stocks-regulation-sec-bankman-fried-2022-12">urged government agencies</a> to tighten the screws on crypto firms. Lawmakers have been <a href="https://markets.businessinsider.com/news/currencies/sam-bankman-fried-ftx-fraud-sec-congress-hearing-crypto-says-2022-12">critical of the SEC's current approach</a>, which asks crypto firms to "come in and talk" to be regulated.

Crypto contagion isn't over and the lack of transparency means the industry is an 'insider's game,' EY blockchain chief says

<ul class="summary-list"><li><keyword id="11893898" type="UNKNOWN" weightage="60" keywordseo="crypto" source="Orion">Crypto</keyword> metaverse game Axie Infinity's NFT collection is the first to reach $4 billion in sales, CryptoSlam data showed.</li><li>The game, where people play to earn NFTs, has surged in popularity and its NFT sales outstrip those for CryptoPunks.</li></ul>Axie Infinity NFTs have hit $4 billion in all-time sales, according to data from Cryptoslam, as play-to-earn crypto games continue to grow in popularity.The trading of NFTs between players on the blockchain-based video game topped <a href="https://cryptoslam.io/axie-infinity/sales/summary">$2.5 million</a> in the past 24 hours alone, the data showed Tuesday. "@AxieInfinity just hit $4Bn traded NFTs between players. It's the most traded NFT collection ever!" Aleksander Leonard Larsen, the cofounder and COO of the company, <a href="https://twitter.com/psycheout86/status/1495741147808948225?s=21">tweeted</a> Monday.Larsen said that usually, game developers take 100% of proceeds from sales, but Axie's business model is different, with 4.25% of each trade going into the Axie token treasury.In Axie Infinity, developed by Vietnamese startup Sky Mavis, the gameplay involves people using NFT characters called axies, inspired by Pokémon, to battle against others. Axies are NFTs that can be earned through playing, then sold or bought.Its total sales volume is almost double that of the second-place NFT collection, CryptoPunks. A rare Alien NFT marked the Larva Labs collection's <a href="https://markets.businessinsider.com/news/currencies/cryptopunks-alien-nft-goes-for-almost-24-million-smashing-sales-record-2022-2">most expensive sale</a> at almost $24 million last week. But even with that, the all-time sales volume for CryptoPunks stands at <a href="https://cryptoslam.io/cryptopunks/sales/summary">$2,064,107,500</a>, compared with Axie's<a href="https://cryptoslam.io/axie-infinity/sales/summary"> $4,001,976,814</a>.Crypto metaverse game Axie Infinity<a href="https://markets.businessinsider.com/news/currencies/ethereum-axie-infinity-cryptocurrencies-tokens-slp-axs-markets-2021-8?utm_medium=ingest&amp;utm_source=markets"> took off in 2021</a>, as play-to-earn games surged in tandem with prices for digital currencies. Its axs token<a href="https://markets.businessinsider.com/news/currencies/play-to-earn-crypto-axie-infinity-business-model-gaming-value-2022-1?utm_medium=ingest&amp;utm_source=markets"> rose by 18,000%</a> over the course of the year. While <keyword id="11895317" type="UNKNOWN" weightage="60" keywordseo="cryptocurrencies" source="Orion">cryptocurrencies</keyword> have slumped in the early going of 2022 as casual investors abandoned the assets, NFT sales have climbed. In January alone, global NFT sales <a href="https://www.businessinsider.in/investment/news/nft-sales-hit-7-billion-all-time-high-in-january-but-it-may-just-be-a-bubble-waiting-to-pop/articleshow/89249178.cms">reached $7 billion</a> — an all-time high for a single month, more than double the<a href="https://markets.businessinsider.com/news/currencies/nft-opensea-digital-art-bitcoin-cardano-ethereum-meme-crypto-2021-09"> previous record</a> of $3 billion for August last year. Meanwhile, the market value of all digital currencies has fallen 22% since the beginning of January, to $1.7 trillion at last check Tuesday.Over the past 30 days, Axie Infinity has had an average of 2.7 million active players, <keyword id="6357332" type="UNKNOWN" weightage="60" keywordseo="gaming" source="Orion">gaming</keyword> statistics company ActivePlayer has <a href="https://activeplayer.io/axie-infinity/">estimated</a>. The Ronin-based game recently released <a href="https://markets.businessinsider.com/news/currencies/axie-infinity-blockchain-gaming-nft-crypto-tokens-game-prices-surge-2022-2">updates</a> that will expand its prize pool to $6 million, which is likely to drive more growth.The upfront cost of playing in the Axie Infinity metaverse is higher than on typical gaming platforms. However, as the game is based on a<a href="https://markets.businessinsider.com/news/currencies/play-to-earn-crypto-axie-infinity-business-model-gaming-value-2022-1"> play-to-earn model</a>, the potential gain for the player is greater. Players must have three axie creature NFTs for the game, initially bought on the Axie Infinity<a href="https://marketplace.axieinfinity.com/axie/"> marketplace,</a> The cheapest axie was priced at $24 at last check Tuesday, making the cost of entry $72.They can then pit their axies against others to earn Smooth Love Potion — the games' play-to-earn token — which are used to create more axie NFTs, to sell or to do battle. The highest price for a single NFT to date was 300 ether, currently worth almost $800,000, according to CoinMarketCap data.

Axie Infinity breaks $4 billion in NFT sales as the crypto-gaming metaverse draws in the crowds

<ul class="summary-list"><li>The co-founder of Twitch said he is launching a new marketplace for gaming NFTs.</li><li>Justin Kan said in a blog post that Fractal will serve as both a primary and secondary market. </li></ul>A new marketplace focused on gaming NFTs is on the way from the co-founder of Twitch, reflecting a boom in the space during what's been a blockbuster 2021 for cryptocurrencies and digital collectibles. Fractal will allow players to purchase and sell assets for games that run on the Solana blockchain, said Justin Kan, known for his work in launching <a href="https://www.twitch.tv/">Twitch</a>, a <a href="https://www.businessinsider.com/what-is-twitch">livestreaming service</a> focused on gaming, entertainment, sports, and music that reaches more than 30 million users a day. "For players, this will mean they can truly own the value of their in-game work: items they own will be buyable, tradeable or sellable," Kan said <a href="https://fractal.medium.com/introducing-fractal-98a8162a0a6f">in a Medium blog post introducing Fractal</a> on Sunday. "For game companies, their in-game assets become persistent platforms on top of which other developers will be able to build experiences." Kan, who is serving as part of Fractal's founding team, said Fractal will act as a primary market, with companies ushering in their new games to players, as well as a secondary market where users can buy and sell NFTs. "We are starting with the Solana blockchain, as we see the low cost and high speed of transactions as appealing to game creators who want to have a high number of in-game assets," said Kan. He said a launch line-up would arrive "soon" but didn't specify a date. Tokens tied to blockchain-based games and metaverse platforms are <a href="https://markets.businessinsider.com/news/currencies/best-performing-cryptocurrencies-metaverse-tokens-of-the-year-2021-12">among the best performing in 2021</a> in the cryptocurrency market which surpassed $3 trillion during the year. Prices, overall, have cooled from high levels, bringing the crypto market valuation to $2.1 trillion as of Monday. The AXS token for play-to-earn game Axie Infinity has skyrocketed 17,440% to trade above $101 on Monday. <a href="https://decentraland.org/">Decentraland's</a> native token named MANA has charged up about 3,900% and <a href="https://coinmarketcap.com/currencies/the-sandbox/">The Sandbox's SAND token</a> has climbed by 14,000%, according to figures from CoinMarketCap. Solana was trading at $152.33 late Monday afternoon, up over 10,000% in that past year. The growth has taken place as companies lay the groundwork for gamers, shoppers, and others worldwide <a href="https://markets.businessinsider.com/news/currencies/metaverse-land-sales-valuations-republic-realm-metaverse-group-crypto-2021-12">to accelerate their time in the metaverse. </a>

A marketplace for gaming NFTs is coming from the co-founder of Twitch

<ul class="summary-list"><li><keyword id="11971138" type="UNKNOWN" weightage="60" keywordseo="axie-infinity" source="Orion">Axie Infinity</keyword>, a crypto game that lets players earn money, became the top-traded NFT collection, according to the BGA Blockchain Game Report. </li><li>The game, which centers on NFT creatures called Axies, has generated $2.5 billion in trading volume. </li></ul>Axie Infinity, an ethereum-based game where players can earn money by battling colorful creatures, became the top-traded NFT collection during the third quarter, data show. Developed by Vietnamese startup Sky Mavis, <a href="https://markets.businessinsider.com/news/currencies/ethereum-axie-infinity-cryptocurrencies-tokens-slp-axs-markets-2021-8">Axie Infinity</a> drew in $2.08 billion in trading volume from July through September, representing 19% of trading volume in that space, according to the <a href="https://dappradar.com/blog/bga-blockchain-game-report-q3-2021">BGA Blockchain Game Report</a> from Dappradar. And as of the report's publication on October 14, it was more than $2.5 billion. The game's creatures, called Axies, are <keyword id="11901075" type="UNKNOWN" weightage="60" keywordseo="nfts" source="Orion">NFTs</keyword> that can be sold or purchased. NFTs, or non-fungible tokens, are digital representations of artworks and collectibles that exist on a blockchain ledger, similar to <a href="https://markets.businessinsider.com/currencies/btc-usd">bitcoin</a> and other cryptocurrencies. During the third quarter, the game overtook CryptoPunks and NBA Top Shot - among the most famous NFTs - to claim the title of the most-traded NFT collection ever. CryptoPunks have <a href="https://www.businessinsider.com/cryptopunks-pixelated-avatars-that-millionaires-buy-nft-2021-7">become hot items for millionaires to buy</a>, and payments heavyweight <a href="https://markets.businessinsider.com/stocks/v-stock">Visa</a> in August ventured into the digital-collectibles market by <a href="https://markets.businessinsider.com/news/currencies/visa-cryptopunks-nft-150000-cryptocurrency-blockchain-fungible-token-digital-asset-2021-8">purchasing the CryptoPunk 7610 pixelated avatar for around $150,000</a>."The case can be made for Axie Infinity as the true catalyzer of the play-to-earn revolution," said BGA, adding that the game pulled in $800 million in revenue in the third quarter. Players can earn two types of tokens, Smooth Love Potions and Axie Infinity Shards, through breeding, raising and battling Axies. The SLP and AXS tokens can be used in the game or can be sold on a crypto exchange. The <a href="https://www.coingecko.com/en/coins/axie-infinity">AXS price</a> earlier this month hit an all-time high of $155.88, according to CoinGecko. The <a href="https://www.coingecko.com/en/coins/smooth-love-potion">SLP token</a>'s price reached an all-time high above $0.399 in July but has since pulled back. The broader blockchain industry posted a quarterly increase of 25% in unique active wallets, to 1.54 million. BGA said UAWs are somewhat analogous to daily active users, although individuals can hold multiple wallet addresses.A big driver in that increase came from blockchain-based games with players seeking to earn money. UAWs connected to blockchain games hit 754,000 in the third quarter, or 49% of the whole industry's usage, the report said.

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Axie Infinity's native token axs soars more than 40% after the game cuts back on supply of play-to-earn tokens and increases prize pool to $6 million

Adam Morgan McCarthy

Binance CEO says the crypto exchange seized $5.8 million from a North Korean network behind a recent $620 million Axie Infinity hack

Carla Mozée

Play-to-earn crypto games are gaining popularity among developers, with nearly 60% surveyed saying they are utilizing blockchain in game design

Carla Mozée

What 'actually' happened in the world of crypto in March?

Business Insider India

FTX has set up a crypto gaming unit to help web3-curious publishers bring NFTs to their games

Hamza Fareed Malik

Crypto contagion isn't over and the lack of transparency means the industry is an 'insider's game,' EY blockchain chief says

Jennifer Sor

Axie Infinity breaks $4 billion in NFT sales as the crypto-gaming metaverse draws in the crowds

Adam Morgan McCarthy

A marketplace for gaming NFTs is coming from the co-founder of Twitch

Carla Mozée

The most-traded NFT collection in Q3 was Pokemon-inspired Axie Infinity as crypto gaming expands

Carla Mozée

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