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.

The Permanent Electoral Authority in Romania (ROAP—Romania Autoritatea Electorală Permanentă) is using blockchain technology to count and validate presidential electoral votes on November 24.

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.

The Chinese giant Alibaba Cloud announced a partnership with MultiversX (EGLD), while Alibaba (NYSE: BABA) published Q3 2024 earnings results. This partnership starts as EGLD strongly enters the Asian market with an UpBit listing and notable mentions in the media.

Elrond (now rebranded as MultiversX) has continued to make strides as a scalable and secure blockchain platform for decentralized applications (dApps) and decentralized finance (DeFi). With its focus on high-speed transactions, low-cost operations, and interoperability, the platform has garnered considerable attention from both investors and developers.

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.

The layer-1 blockchain MultiversX (EGLD) continues to lead the digital asset gaming sector in terms of development activity, according to the crypto analytics firm Santiment. Santiment notes in a new post on the social media platform X that MultiversX, formerly known as Elrond, registered 264.9 notable GitHub events in the past 30 days.

Ethereum (ETH) has grown to be the most competitive Bitcoin (BTC) rival, allowing for programmable money and smart contracts. After that, other cryptocurrencies surged as Ethereum rivals, challenging its dominance with advanced technologies fostering innovation, scalability, decentralization, and security.

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.

A cryptocurrency influencer, venture capitalist, and angel investor recommended his followers to “sell your watch” and put in one of three altcoins for a “50x” return. If the market goes as expected, this move could result in a $5,000 holding, considering an average $100 watch.

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.

MultiversX (EGLD), NEAR Protocol (NEAR) and Nexo (NEXO) are among altcoins that have slipped into red as the global crypto market declines 2.4% in the past 24 hours. Meanwhile, the crypto market is eyeing broader investor reaction to upcoming US inflation data and other potential catalysts.

The cryptocurrency market seems ready to start the second phase of the 2024 crypto bull run, according to analysts. Thus, Finbold selected two cryptocurrencies with the potential to turn a $100 investment into $1,000, with a 900% return.

The cryptocurrency market continues to crash as traders and investors wonder when the digital assets will reach the bottom. In such an unpredictable market, players can look for technical indicators that assist in spotting potentially oversold cryptocurrencies to buy.

The layer-1 blockchain MultiversX (EGLD) is dominating the crypto gaming sector in terms of development activity, according to the analytics firm Santiment. Santiment notes that MultiversX, formerly known as Elrond, registered 228.73 notable GitHub events in the past 30 days. The Ethereum (ETH)-based virtual reality platform Decentraland (MANA) was second, clocking 195.03 events.

Amid the increased social activity for DePIN projects, the EGLD price action reveals a positive cycle in motion. As the native token of the multiversX, EGLD has shared a similar phase to all the other metaverse tokens in the crypto market.

Cryptocurrency Prices Today (August 30): The broader market witnessed significant price fluxes today, with major coins like Bitcoin (BTC), Ethereum (ETH), Solana (SOL), and XRP trading in the red territory. However, altcoins BEAM and MultiversX (EGLD) traded dominantly in the green zone today.

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.

Tokens that power Decentralized Physical Infrastructure Networks (DePIN) are gaining traction, making them assets that investors should watch closely.

As 2024, the year marked by exciting movements in the cryptocurrency sector, slowly moves towards its final quarter, crypto traders and investors are increasingly looking at its potential assets that could deliver a relatively substantial profit.

Story Highlights The live price of the EGLD crypto token is . The Elrond price could go as high as $67.93 by 2024. With a potential surge, the EGLD price could reach a high of $252.68 by 2030. The projects based on Defi have undergone a sustained upward move.

As the cryptocurrency market recovers after a period of volatility, certain digital assets are emerging as frontrunners, demonstrating both resilience and strong growth potential.

This update gives users an easy entry point to MultiversX, enhancing the speed and security of blockchain technology. MultiversX is a new-age blockchain built to be fast, efficient, and safe.

Enhanced security and seamless access to MultiversX's ecosystem could significantly reduce crypto-phishing losses and boost Web3 adoption. The post MetaMask and MultiversX join forces to bring on-chain 2FA to millions appeared first on Crypto Briefing.

MultiversX, ecosystem of the crypto Elrond, has announced the launch of the "Snaps" feature for integration with the MetaMask wallet.

The MultiversX Snap for MetaMask introduces a new level of security, embedding two-factor authentication directly into the blockchain protocol for enhanced protection.

Fundamental analyses are often overlooked in the cryptocurrency market, primarily focused on short or mid-term trades, mostly following technical analyses. However, investment funds like Cyber Capital focus on long-term value investing through in-depth fundamental analyses of the industry's projects.

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.

Dive into the visionary thoughts of Beniamin Mincu, CEO of MultiversX, as he discusses technological advancements, community engagement, and the future of blockchain in our exclusive GoCrypto interview series.