CryptoMediaClub
Monday, July 28, 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

Bitcoin Price Prediction: Global Firms Pour $86B Into BTC – Could This Trigger a New “Institutional Supercycle”?
All news

Bitcoin Price Prediction: Global Firms Pour $86B Into BTC – Could This Trigger a New “Institutional Supercycle”?

28.07.2025
0

The Bitcoin price looks primed for another surge toward fresh all-time highs as institutional investors have poured approximately $86 billion...

Read moreDetails
Vietnam Launches National Blockchain Platform for Data Verification

Vietnam Launches National Blockchain Platform for Data Verification

28.07.2025
Meme Coin Supercycle? DOGE Price Up 50%, BONK 150%, FLOKI 80%

Meme Coin Supercycle? DOGE Price Up 50%, BONK 150%, FLOKI 80%

28.07.2025

Over 99% of Banking Transactions in Australia Conducted Online

28.07.2025
One-Click Cloud Mining: PAXMINING Opens Doors for XRP & Digital Asset Users

One-Click Cloud Mining: PAXMINING Opens Doors for XRP & Digital Asset Users

28.07.2025
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

Robinhood accumulated $3B in Bitcoin in 3 months — What does this mean for markets?

Robinhood accumulated $3B in Bitcoin in 3 months — What does this mean for markets?

2 years ago
Terra Classic Developer Unveils Upcoming AI-powered App Chain

Terra Classic Developer Unveils Upcoming AI-powered App Chain

2 years ago
Low Market Cap Meme Coin With Excessive Potential: Why PEPETO’s Early Traders Might Win Huge

Low Market Cap Meme Coin With Excessive Potential: Why PEPETO’s Early Traders Might Win Huge

5 months ago
Georgia State Pushes More durable for Bitcoin Stockpile, Senate Proposes Second BTC Reserve Invoice

Georgia State Pushes More durable for Bitcoin Stockpile, Senate Proposes Second BTC Reserve Invoice

5 months ago

Categories

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

Highlights

Over 99% of Banking Transactions in Australia Conducted Online

One-Click Cloud Mining: PAXMINING Opens Doors for XRP & Digital Asset Users

Senate Democrats Question Housing Agency Over Crypto in Mortgage Plans

ASIC Warns Australians Against Bitget’s “Unlicensed” Crypto Futures Offerings

Crypto Lender Divine Uses Iris-Scanning World ID to Disburse 30,000 Unsecured Loans

Metaplanet Buys 780 More Bitcoin, Total Now Over 17,000 BTC

Trending

Bitcoin Price Prediction: Global Firms Pour $86B Into BTC – Could This Trigger a New “Institutional Supercycle”?
All news

Bitcoin Price Prediction: Global Firms Pour $86B Into BTC – Could This Trigger a New “Institutional Supercycle”?

28.07.2025
0

The Bitcoin price looks primed for another surge toward fresh all-time highs as institutional investors have poured...

Vietnam Launches National Blockchain Platform for Data Verification

Vietnam Launches National Blockchain Platform for Data Verification

28.07.2025
Meme Coin Supercycle? DOGE Price Up 50%, BONK 150%, FLOKI 80%

Meme Coin Supercycle? DOGE Price Up 50%, BONK 150%, FLOKI 80%

28.07.2025

Over 99% of Banking Transactions in Australia Conducted Online

28.07.2025
One-Click Cloud Mining: PAXMINING Opens Doors for XRP & Digital Asset Users

One-Click Cloud Mining: PAXMINING Opens Doors for XRP & Digital Asset Users

28.07.2025
  • 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