The firm's founder has stressed that the layoffs are not financially motivated.

Sky Mavis is pushing for growth, and as part of this restructuring, it has downsized its workforce.

Axie Infinity creator Sky Mavis lays off 50 employees as part of broader efforts to adapt post-hack and market shifts.

Sky Mavis co-founder and CEO Trung Nguyen said resources freed up from the layoffs will be used in a new Axie Infinity game and other projects.

Sky Mavis cut 21% of its workforce to focus on core products, with the CEO claiming it wasn't due to financial issues. The post Axie Infinity Creator Sky Mavis Lays Off 21% as Part of Restructuring appeared first on Cryptonews.

Sky Mavis has laid off 21% of its workforce The web3 firm said the decision was not related to its finances.

The layoff reflects a strategic move to focus on its projects, including a new Axie Infinity game, according to its CEO.

This week's 'top cryptocurrencies to watch' are all from the gaming market segment: Sandbox, MANA and Axie Infinity.

Axie Infinity (AXS) and Smooth Love Potion (SLP) tokens have crawled back in the past few days as the ecosystem started to bounce back. The SLP coin was trading at $0.0035 on Friday, up by 65% from its lowest point this year. Similarly, the Axie Infinity coin was trading at $5.

Despite a recent pullback, AXS is set for a strong recovery.

Are NFTs making a comeback? Following the surge in BAYC's ApeCoin after the ApeChain launch, investment is now shifting towards Axie Infinity, The Sandbox, and emerging layer-2 blockchains.

Two popular tokens, Axie Infinity (AXS) and Sandbox (SAND), have seen significant price increases recently. This uptick comes as the entire crypto market experiences a rally, with Bitcoin testing the crucial price level of $69,000.

New interest in crypto gaming has play-to-earn game Axie Infinity (AXS) up as bulls celebrate upside momentum. It's an outlook that's also catalysed interest in Dogizen (DOGIZ). This tap-to-earn game has captured investor attention with the first-ever Telegram ICO.

The crypto market has recorded a jump of ~2% in the past day, resulting in the Bitcoin price retesting its $69,000. Following this, the Metaverse and the gaming industry have regained momentum with many projects retesting their important resistance levels.

AXS Unlock date - Oct 14th 2024 Number of tokens unlocked- 12.58 million AXS (4.66% of its circulating supply) Current Circulating Supply - 152.23 million million AXS Token distribution Staking rewards - 2.45M tokens (3.13%) Teams - 5.74M tokens (10.1%) P2E - 2.70M tokens (5%) Ecosystem - 1.69M tokens (7.81%) Source - cryptorank.

Significant token unlock events will take place this week - Arbitrum alone will unlock $51 million worth of tokens.

The Web 3 game Axie Infinity saw an increase of 11.34% of its staked AXS in one year. From October 1st 2023 till October 2024, the amount of staked AXS has gained 5,956,719 AXS.

The cryptocurrency universe prepares for another bearish market wave for certain altcoins, raising investor concerns globally. Recent data from the Token Unlocks app indicated that nearly $300M worth of tokens are set to be released into the market over the coming week.

Contrary to the anticipated “Uptober” rally, the cryptocurrency market has experienced a significant downturn, largely driven by geopolitical tensions in the Middle East. Major assets have seen their values decline, with some retesting multi-week lows.

TL;DR The SEC expands its lawsuit against Binance, now classifying tokens such as Axie Infinity (AXS), Filecoin (FIL), and Cosmos (ATOM) as unregistered securities. Binance and its subsidiary BAM Trading are accused of promoting these tokens as investments without complying with the necessary regulations.

The SEC's latest lawsuit update targets additional tokens like Axie Infinity, Filecoin, and Cosmos as unregistered securities, continuing its crackdown on the crypto industry.

Story Highlights The live price of Axie Infinity is . AXS price could trade as high as $10.12 by 2024. Axie Infinity with a potential surge could go as high as $53.16 by 2030. One of the growing trends in the crypto verse is blockchain gaming.

Ronin Bridge, an Ethereum sidechain built for the popular play-to-earn non-fungible token game Axie Infinity, has been hacked. The hack caused 3,996 Ethereum (ETH) worth approximately $9.33 million to be lost.

The Wild Noctid Chase in Axie Infinity Homeland Avatar Mode gives players a chance to win AXS, Land Items, and SLP.

After an Open Beta Test that ran from 17th July – 24th July, the Homeland Avatar mode in Axie Infinity is now live for all players. All data from the beta test has been reset, and players can now start fresh with a new account.

The crypto market exhibited mixed signals in the month of July: many altcoins noted exceptional growth while other suffered.

The Open Beta Test for the Axie Infinity Homeland Avatar Mode has come to an end. The team is now implementing bug fixes in the base game, and more announcements can be expected next week.

In the latest YouTube video, the well-known crypto expert, Alex Becker, discusses the market pumping for the first time in a millennium and how it has been coming.

Axie Classic Competitive Season 4 is now live and will run until 19th August. During this 4-week season, guilds can battle and climb the guild leaderboard for a chance to win rewards from a prize pool of 10,000 $AXS.

With potential interest rate cuts on the horizon, adjust your portfolio by identifying high-risk altcoins to sell amid ongoing turbulence.

Worldcoin's value has fallen about 80% since its peak, but the project will soon begin to double its rate of daily token unlocks.

Web3 gaming is booming this year as the industry rolls out development after development in hopes of becoming the leading project in the space.

Here are three cryptos to sell that are unlikely to gain and should be sold before they crash and burn completely.

Axie Infinity (AXS) price is leaning more towards a bearish outcome wherein the existing losses will likely intensify.

The cryptocurrency market is abuzz as Bitcoin stands at around $65,000. This rally is setting the stage for significant growth among smaller-cap assets.

Axie Bounty Aid offers Axie Infinity players Prayer Delegation and 100 Fortune Slips based on weekly raffles. Read this article to learn more.

Sky Mavis, the creator of Axie Infinity, aided by Norwegian authorities and the FBI, has recovered $5.7 million from the Ronin Bridge hack.

Norwegian authorities have successfully frozen and returned $5.7 million in stolen crypto from the Ronin bridge attack.

Notcoin spikes 304%, top weekly gainers list; AXS could recover some of its losses; TIA also defied the market-wide downward momentum. Here's a look at this week's top cryptocurrencies to watch.

It is no longer news that the cryptocurrency market witnessed a surge in trading activity in May. This drove the values of many altcoins to new highs.

Axie Infinity (AXS) emerges as a captivating contender, captivating investors and traders with the promise of a significant surge. This blockchain gaming altcoin has recently garnered attention due to its potential for a remarkable 194% surge, as analyzed by a renowned crypto trader.

Axie Infinity and Ethereum. As pillars of the digital economy, these two titans have captured the imagination of investors worldwide, promising untold riches and unparalleled opportunities.

The blockchain gaming altcoin Axie Infinity (AXS) is flashing signs that it could be ready to take off on a massive surge upwards, according to a popular crypto trader.

Axie Infinity (AXS), the popular play-to-earn game token, appears to be drawing significant attention from crypto analysts and investors alike. Recent analyses by renowned crypto experts Ali and Captain Faibik have identified key patterns and technical signals indicating a possible bullish breakout for AXS.

Axie Infinity (AXS), a fast-growing virtual world with several nostalgic gaming titles, has approached the tipping point of bullish breakout. The mid-cap altcoin, with a fully diluted valuation of about $2.1 billion and a daily average traded volume of around $42 million, is well bolstered by its gaming ecosystem.

The Axie Infinity Origins Season 8 has finally ended, and the Postseason has started. The main highlight of the Postseason is the upcoming Elite 8 tournament, which features giveaways of up to 600 Axies followed by several new updates.

Axie Infinity Homeland is offering rewards from a pool of 20,000 AXS as part of its Cooking Showdown event from 22nd May to 5th June. At the end of the event, the top 5000 players on the leaderboard will be rewarded.

As the altcoin market value surpasses $276 Billion, driven by Bitcoin's surge above $66,000, investors are eyeing altcoins for potential gains. Renowned crypto analyst CryptoBulle warns against blindly investing in all altcoins amidst this bullish trend. Despite the bullish trend, the market remains susceptible to corrections.