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NFT Game HACKED, Players LOSE $600 Million (Axie Infinity)




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NFT Game HACKED, Players LOSE $600 Million (Axie Infinity)
What Is Axie Infinity?
– Axie Infinity is an non-fungible token-based online video game developed by Vietnamese studio Sky Mavis, known for its in-game economy which uses Ethereum-based cryptocurrencies.

– Players of Axie Infinity collect and mint NFTs which represent axolotl-inspired digital pets known as Axies. 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.

– Axie Infinity is built on the Ronin Network, an Ethereum-linked sidechain developed by Sky Mavis. In March 2022, hackers compromised the Ronin Network, stealing approximately US$620 million worth of cryptocurrency from the project.

What Are NFTs?

A non-fungible token (NFT) is a non-interchangeable unit of data stored on a blockchain, a form of digital ledger, that can be sold and traded. Types of NFT data units may be associated with digital files such as photos, videos, and audio. Because each token is uniquely identifiable, NFTs differ from most cryptocurrencies, such as Bitcoin, which are fungible.

NFT ledgers claim to provide a public certificate of authenticity or proof of ownership, but the legal rights conveyed by an NFT can be uncertain. NFTs do not restrict the sharing or copying of the underlying digital files, do not necessarily convey the copyright of the digital files, and do not prevent the creation of NFTs with identical associated files.

NFTs have been used as a speculative asset, and they have drawn increasing criticism for the energy cost and carbon footprint associated with validating blockchain transactions as well as their frequent use in art scams. The NFT market has been compared to a Ponzi scheme.
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In this video I talk about NFT Game, NFT Games, NFT Games Play to Earn, Play to Earn, NFT, Crypto, Dr Disrespect, Ethereum, Axie Infinity, Axie Infinity Crypto, Axie Infinity Hack, Axie Infinity Hacked, NFT Games 2022, NFT Games Free to Play, NFTs in Gaming, Games with NFTs, Crypto Games, Cryptocurrency, Bitcoin, Bitcoin Game, Bitcoin Games, Axie Infinity Hack Account, Axie Infinity Hack Explained, Dr Disrespect NFT, NFT Game 2022, NFT Game Play to Earn, NFT Game Free to Play, and NFT Game Free!

#NFTGames #Crypto #NFT

CHAPTERS:
0:00 Intro
0:34 Axie Infinity HACKED
1:19 How NFTs Work in Games
3:00 The Problem with Axie Infinity
4:28 Dr Disrespect’s NFT Project
5:23 The Problem with Dr Disrespect’s NFTs
7:05 NFTs Reputation
8:24 Rarity Doesn’t Mean Valuable
9:11 Activision, Ubisoft NFT Games
11:00 NFTs Will Make Games Worse
12:40 Does Gaming NEED NFTs?
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Articles Referenced in this video:

“The aftermath of Axie Infinity’s $650M Ronin Bridge hack”
https://cointelegraph.com/news/the-aftermath-of-axie-infinity-s-650m-ronin-bridge-hack

“Axie Infinity sees ‘no signs of buyers’ as AXS price tumbles 30% in two weeks”
https://cointelegraph.com/news/axie-infinity-sees-no-signs-of-buyers-as-axs-price-tumbles-30-in-two-weeks

“Dr Disrespect is selling NFT beta access to his game that does not exist yet”
https://www.pcgamer.com/dr-disrespect-is-selling-nft-beta-access-to-his-game-that-does-not-exist-yet/

“Activision reportedly eyeing “NFT inclusion” in future Call of Duty games”
https://www.dexerto.com/call-of-duty/activision-reportedly-eyeing-nft-inclusion-future-call-of-duty-games-1798020/

“Ubisoft has barely sold any Ghost Recon NFTs”
https://www.engadget.com/ubisoft-nft-quartz-ghost-recon-blockchain-140720063.html

“Logan Paul reveals ’99 Originals’ trailer for massive NFT project”
https://www.dexerto.com/entertainment/logan-paul-reveals-99-originals-trailer-for-massive-nft-project-1803100/

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Omniarch
Omniarch
1 month ago

A bit different than my usual content! I'd love to hear your thoughts on NFTs in gaming :) ALSO! Drop a 'LIKE' while you're down here!

Abubakarjr Badal
Abubakarjr Badal
1 month ago

no one will return the money from Nortth Korea hahaha

👉VEEHACKSERVICE ON TELEGRAM
👉VEEHACKSERVICE ON TELEGRAM
1 month ago

May the God send people like you to every corner of the globe. May all the needy people come in contact with you! Cos you are really helping everyone in the state love from NEW YORK🇺🇸

👉VEEHACKSERVICE ON TELEGRAM
👉VEEHACKSERVICE ON TELEGRAM
1 month ago

May the God send people like you to every corner of the globe. May all the needy people come in contact with you! Cos you are really helping everyone in the state love from NEW YORK🇺🇸

Finn Jamison
Finn Jamison
1 month ago

day 4 of asking for pvz and minecraft

Cornholio's
Cornholio's
1 month ago

I think its almost impossible to get greedy with nfts in a game. Unless they game is really good like csgo for example, youre gonna spend more time on the marketplace than ingame. But its still a cool idea to own your assets if youre actualy ACTUALLY playing the game

Garrett Turner
Garrett Turner
1 month ago

Ich bin etwas skeptisch, kenne aber viele Aspekte von BTC. Lassen Sie uns also ein paar Dinge klarstellen – BTC ist ein Vermögenswert – wie Gold ist es knapp, aber einfacher zu erwerben, und große Akteure wie PayPal und Grayscale halten es, ebenso wie viele Bankinstitute, Hedgefonds und Massen von Menschen. ytytSelf Host Wallet BTC-Besitzer haben es schwer, sie zu verkaufen, ohne KYC zu machen, und in einigen Fällen kann dies sie finanziell ruinieren. Die Leute verlieren den Zugriff auf ihre BTC-Geldbörsen, wodurch diese BTC für immer eingefroren werden. Der Hype und FOMO nehmen zu und die meisten Leute kaufen und halten nur mit BTC. Ich meine, Sie müssen verstehen, dass die normalen Fundamentaldaten der Aktienmärkte hier nicht gelten. Es ist kein 2017-2018-Szenario. Die der BTC hinzugefügte Regulierung könnte sie sogar wünschenswerter machen (obwohl sie ein Minus hat) Im Grunde genommen wären alles, was BTC vom Mooning abhalten könnte, extreme regulatorische Einschränkungen und auch bessere Investitionsmöglichkeiten, die von BTC-Besitzern entdeckt werden. Der beste Rat ist jedoch, dass Sie eine funktionierende Strategie/tägliche Signale finden, die bei anderen gut funktionieren, um ein sehr starkes Portfolio aufzubauen und zu erweitern. Ich habe täglich Signale und Strategien mit Mr. Zachary Gelbart gehandelt, seine Anleitung macht den Handel trotz der jüngsten Schwankungen stressfreier und rentabler. Mit den täglichen Signalen von Zachary Gelbart konnte ich mein Portfolio in nur 4 Handelswochen um 0,5 BTC auf 1,2 BTC vergrößern. Seine täglichen Signale sind sehr genau und generieren eine große positive Kapitalrendite und stehen jedem zur Verfügung, der den Kryptohandel liebt Sie können ihn auf Telegram @ [ ZACHARYSIGNALS ] für Anfragen und profitable Handelssysteme kontaktieren ✅📚📡

Mark Storer
Mark Storer
1 month ago

NFTS are also good projects one can venture and make money from

Jefferson Xyruz
Jefferson Xyruz
1 month ago

What a coincidence, i was watching this then an ad intervened. Believe it or not that ad is talking about an NFT game. Also whats an NFT?

mrmaxcarter
mrmaxcarter
1 month ago

good. crypto and nfts are ridiculously worthless and unnecessary

📩 alpha_hack24👈nstagram
📩 alpha_hack24👈nstagram
1 month ago

It was a sad moment losing my account but got referred to the name above 👆👆 who got my joy back ,you are a sent 🙏

Jon R
Jon R
1 month ago

building games around business models is a recipe for disaster, will never support NFTs in games. simply find another game.

Wallabit
Wallabit
1 month ago

Great vídeo, man! But you missed the main point of putting nfts in gaming. It is not “to finally be able to have rare skins in video games” but “to finally be able to sell those skins legally when we don’t need them anymore”. In other words, the ownerships of the assets and the chance to get some remuneration for our time/money spent in the game. The problem is, of course, how every company is going to implement it. In my opinion, they should focus on game play more than in economy. If a game is good, but it gives you an extra chance to earn something, what is the harm in there? Imagine being able to sell rss, skins and a few other things in RoK, legally. How would that affect game play? On the contrary, I think it would give f2p players more incentive to play and less reason to complain. Anyway, great work!

Death korps of Krieg Lieutenant owen.
Death korps of Krieg Lieutenant owen.
1 month ago

Surprise surprise less people like NFTs The only thing Inevitable about NFTs is they will die.

Death korps of Krieg Lieutenant owen.
Death korps of Krieg Lieutenant owen.
1 month ago

Surprise surprise less people like NFTs The only thing Inevitable about NFTs is they will die.

Eric Lorrain-milukow
Eric Lorrain-milukow
1 month ago

One of a kind i must have it … My car for the can…. deal ?

matraquilho chumbo
matraquilho chumbo
1 month ago

NFT are confused with a scam because there value is highly speculative. They dont have a real value or a system that supports its value

Blackwolf gaming
Blackwolf gaming
1 month ago

Hey omniarch there was a post on the official rise of kingdoms face book and Instagram accounts that the new civilization is a alien civilization, Do you think it's just an April's fool's joke ?

SHÏKI
SHÏKI
1 month ago

How they lost that amount money?

Im Iraqi
Im Iraqi
1 month ago

Hahahaha they deserve it spending on imaginery crap

JP Nightengale
JP Nightengale
1 month ago

FIRSTTTTt

Superx 4808
Superx 4808
1 month ago

First gg

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