{"id":265686,"date":"2024-03-15T22:24:24","date_gmt":"2024-03-15T16:54:24","guid":{"rendered":"https:\/\/dripp.zone\/news\/?p=265686"},"modified":"2024-03-15T22:24:24","modified_gmt":"2024-03-15T16:54:24","slug":"axie-infinitys-ronin-chain-sees-renaissance-as-gamers-return-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/axie-infinitys-ronin-chain-sees-renaissance-as-gamers-return-crypto-news\/","title":{"rendered":"Axie Infinity\u2019s Ronin Chain Sees Renaissance As Gamers Return – Crypto News"},"content":{"rendered":"

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RON is up 45% in the past week, with daily users soaring above one million, driven by integrations with third-party games like Pixels.<\/p>\n

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Ronin, a Layer 1 blockchain built as a companion network for the play-to-earn game Axie Infinity, is experiencing a resurgence as the Web3 gaming sector heats up again \u2013 and this time, it\u2019s mostly not about Axie.<\/p>\n

Once written off after a $600 million exploit<\/a> in March 2022, Ronin is now the dominant gaming chain, attracting hundreds of thousands of daily active users. As of February, Ronin commands a 29% market share of blockchain gaming, according<\/a> to Footprint Analytics \u2013 higher than BNB Chain and Polygon combined.<\/p>\n

Web3 Gaming Market Share<\/figcaption><\/figure>\n

Amid the rising activity, the network\u2019s RON token has soared 60% in the past month and is up more than 1,000% since October 2023. Among gaming coins with a market capitalization of at least $1 billion, it\u2019s the second best-performing asset after Gala Games, according to CoinGecko<\/a>.<\/p>\n

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RON Price<\/figcaption><\/figure>\n

Ronin\u2019s comeback can be attributed to several factors \u2013 updates to Axie Infinity, its emergence as a destination for non-Axie games, and substantial RON sales by the FTX estate coming to an end. Onchain data shows that a wallet<\/a>reportedly<\/a> belonging to the defunct<\/a> crypto exchange sold 9 million tokens over the past 30 days. It continues to hold 1.27 million RON.<\/p>\n

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RON transactions reportedly from the FTX estate<\/figcaption><\/figure>\n

Axie Infinity was the poster child of crypto gaming during the 2021 bull market and was even credited<\/a> with helping thousands of people in the Philippines weather the pandemic. Despite its AXS and SLP tokens crashing more than 90% in the bear market, the game released several updates, including Axie Infinity: Origins, which introduced new mechanics such as free starter Axies and more gameplay options. However, according to DappRadar<\/a>, activity remains at a fraction of its 2021 levels.<\/p>\n

\u201cAxie origins DAU has seen continued decline over the past 8 seasons, with lower levels now than seen in the bear. Axie classic has since made a promising comeback with LAN tournaments announced later in the year, however, core gameplay issues haven’t been addressed and left some dedicated community members to feel unheard,\u201d Indes, a longtime Axie community member, told The Defiant.<\/p>\n

Axie Infinity has not replied to a request for comment from The Defiant.<\/p>\n

More recently, Ronin has become a favored destination for non-Axie games, such as Pixels, a farming game that migrated to Ronin from Polygon last year<\/a>, contributing to a surge in daily active users. Pixels and Carv, a project developing gaming credentials, currently account for the bulk of network activity.<\/p>\n

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