CryptoMediaClub
Monday, July 7, 2025
  • All news
  • Bitcoin
  • Ethereum
  • Altcoins
  • NFT
  • Blockchain
  • Analysis
No Result
View All Result
  • All news
  • Bitcoin
  • Ethereum
  • Altcoins
  • NFT
  • Blockchain
  • Analysis
No Result
View All Result
CryptoMediaClub
No Result
View All Result
Home All news

Axie Infinity Creator Sky Mavis Lays Off 21% as Part of Restructuring

25.11.2024
A A
0
119
VIEWS
ShareShare

Sky Mavis, the developer of Axie Infinity, has cut 21% of its workforce to refocus on core products and align with its long-term vision. Over the weekend, CEO Trung Nguyen clarified that the decision was unrelated to the company’s budget or financial stability.

“Instead, it is a strategic move that allows for a sharper focus and positioning Sky Mavis for hypergrowth in 2025 and beyond,” he said on X.

The layoffs are expected to impact about 50 employees out of the 250-member global team. Affected staff will receive severance packages and assistance with job placement.

2024 has been a transformative year for Sky Mavis. The Ronin Wallet surpassed 10 million downloads. Today, Ronin is the third most used Blockchain in the world with more than 1.1 million daily active addresses.
As crypto-friendly policies gain traction, we anticipate a wave of…

— trungfinity.ron (@trungfinity) November 23, 2024

How Sky Mavis Transformed Gaming with Axie Infinity

Founded in Vietnam, Sky Mavis revolutionized blockchain gaming with the launch of Axie Infinity in 2018. A team of Vietnamese entrepreneurs and developers led the initiative, aiming to blend traditional gaming mechanics with blockchain.

They introduced the “play-to-earn” model, enabling players to earn crypto through gaming, creating an entirely new genre in the industry.

Axie Infinity remains Sky Mavis’s biggest success, drawing inspiration from games like Pokémon. Players collect, battle, breed and trade creatures called Axies, which are unique non-fungible tokens (NFTs). Each Axie’s distinct traits add to its collectibility and value within the game’s ecosystem.

The game gained massive popularity during the COVID-19 pandemic as the play-to-earn model captured global attention. At its height, the game drew millions of players, with daily active users reaching hundreds of thousands.

New Axie Game, Marketplace, and Developer Ecosystem Expansion in Focus

In 2022, hackers carried out a massive attack on Sky Mavis, stealing crypto worth nearly $600m from the Ronin Network, a blockchain designed specifically for Axie Infinity.

Sky Mavis quickly pledged to fully compensate affected users to restore player trust. To cover the financial losses, it raised $150m in a funding round led by Binance.

Going forward, Nguyen Trung announced that the company aims to expand the Ronin Network to support more developers while focusing on enhancing the Ronin wallet. The company also plans to prioritize building the Mavis marketplace, launching a new Axie game and exploring opportunities in Web3 game publishing.

The post Axie Infinity Creator Sky Mavis Lays Off 21% as Part of Restructuring appeared first on Cryptonews.

Share9Tweet6ShareSharePin2

Related Posts

US Secret Service Builds $400M Crypto War Chest From Seized Scams Over 10 Years
All news

US Secret Service Builds $400M Crypto War Chest From Seized Scams Over 10 Years

07.07.2025
0

The US Secret Service has built one of the world’s largest seized crypto war chests, confiscating nearly $400 million in...

Read moreDetails
[LIVE] Crypto News Today: Latest Updates for July 7, 2025 – “Fiat Is Hopeless”: Elon Musk Says ‘America Party’ Will Embrace Bitcoin

[LIVE] Crypto News Today: Latest Updates for July 7, 2025 – “Fiat Is Hopeless”: Elon Musk Says ‘America Party’ Will Embrace Bitcoin

07.07.2025
Russian Ministry Starts Compiling National Registry of Crypto Mining Rigs

Russian Ministry Starts Compiling National Registry of Crypto Mining Rigs

07.07.2025
Brazil’s Central Bank Hack Sparks $40M Crypto Laundering in BTC, ETH

Brazil’s Central Bank Hack Sparks $40M Crypto Laundering in BTC, ETH

07.07.2025
Drake Compares Love Life to Bitcoin Price Swings in New Lyrics

Drake Compares Love Life to Bitcoin Price Swings in New Lyrics

06.07.2025
Load More
Next Post
Ethereum Breaks Out of 8-Month Descending Channel, Analysts Put $4700 Target for ETH

Ethereum Breaks Out of 8-Month Descending Channel, Analysts Put $4700 Target for ETH

0 0 votes
Рейтинг статьи
Subscribe
Notify of
guest
guest
0 комментариев
Oldest
Newest Most Voted
Inline Feedbacks
View all comments

Recommended

VanEck CEO Has “Way Over 30%” Of His Personal Funds In Bitcoin

VanEck CEO Has “Way Over 30%” Of His Personal Funds In Bitcoin

12 months ago

XRP Lawyer Says Ripple’s Victory in SEC Lawsuit Could Render Investors’ Class Action Void

2 years ago
Oklahoma Greenlights Bitcoin Reserve Invoice: A Daring Leap into Crypto Future

Oklahoma Greenlights Bitcoin Reserve Invoice: A Daring Leap into Crypto Future

4 months ago
Flare API Portal Introduces Blockchain APIs on Google Cloud Marketplace

Flare API Portal Introduces Blockchain APIs on Google Cloud Marketplace

2 years ago

Categories

  • All news
  • Altcoins
  • Analysis
  • Bitcoin
  • Blockchain
  • Ethereum
  • NFT
No Result
View All Result

Highlights

Brazil’s Central Bank Hack Sparks $40M Crypto Laundering in BTC, ETH

Drake Compares Love Life to Bitcoin Price Swings in New Lyrics

Ethereum Price Prediction: ETH Holds Narrow Range as ETF Demand Builds – Is a Breakout Near?

Mercado Bitcoin to Tokenize $200M in RWAs on XRP Ledger, Ripple Reveals

XRP Price Prediction: Is Consolidation Over? Crypto Michael’s Chart Hints at Explosive Move

Bitcoin Price Prediction: Post-$50B Whale Dump, BTC Price Holds Steady – Can Institutional Control Drive New Highs?

Trending

US Secret Service Builds $400M Crypto War Chest From Seized Scams Over 10 Years
All news

US Secret Service Builds $400M Crypto War Chest From Seized Scams Over 10 Years

07.07.2025
0

The US Secret Service has built one of the world’s largest seized crypto war chests, confiscating nearly...

[LIVE] Crypto News Today: Latest Updates for July 7, 2025 – “Fiat Is Hopeless”: Elon Musk Says ‘America Party’ Will Embrace Bitcoin

[LIVE] Crypto News Today: Latest Updates for July 7, 2025 – “Fiat Is Hopeless”: Elon Musk Says ‘America Party’ Will Embrace Bitcoin

07.07.2025
Russian Ministry Starts Compiling National Registry of Crypto Mining Rigs

Russian Ministry Starts Compiling National Registry of Crypto Mining Rigs

07.07.2025
Brazil’s Central Bank Hack Sparks $40M Crypto Laundering in BTC, ETH

Brazil’s Central Bank Hack Sparks $40M Crypto Laundering in BTC, ETH

07.07.2025
Drake Compares Love Life to Bitcoin Price Swings in New Lyrics

Drake Compares Love Life to Bitcoin Price Swings in New Lyrics

06.07.2025
  • All news
  • Altcoins
  • Bitcoin
  • Blockchain
  • Ethereum
  • NFT
  • Analysis
Editor: cryptomediaclub.com@gmail.com
Advertising: digestmediaholding@gmail.com

Disclaimer: Information found on CryptoMediaClub is those of writers quoted. It does not represent the opinions of CryptoMediaClub on whether to sell, buy or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk.
CryptoMediaClub covers fintech, blockchain and Bitcoin bringing you the latest crypto news and analyses on the future of money.

© 2023 Crypto News. All Rights Reserved

No Result
View All Result
  • All news
  • Bitcoin
  • Ethereum
  • Altcoins
  • NFT
  • Blockchain
  • Analysis

Disclaimer: Information found on CryptoMediaClub is those of writers quoted. It does not represent the opinions of CryptoMediaClub on whether to sell, buy or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk.
CryptoMediaClub covers fintech, blockchain and Bitcoin bringing you the latest crypto news and analyses on the future of money.

© 2023 Crypto News. All Rights Reserved

wpDiscuz