Axie Hack is Mindblowing

Axie Infinity is the most popular play-to-earn game. It is one of the best current examples of how you might combine Web2 and Web3 concepts to push the envelope. NFT|LA, a massive event about – you guessed it – NFTs opened yesterday, and I had the pleasure of moderating the opening fireside keynote with The Jiho (Jeff Zirlin), co-founder of Axie Infinity, about 30 minutes after the news went public. Jeff was a superstar. We spoke about the hack as well as Axie’s vision for the future and the state of Web3.

It’s important for you to learn about the hack. Here’s the official release. It’s a pretty good lesson in side-chains and proof-of-stake issues. It’s also important to understand that most of the 173,600 ETH (roughly $600 million) that was stolen is sitting in a wallet that is being watched by everyone in the crypto world. The hackers will be found.

Author’s note: This is not a sponsored post. I am the author of this article and it expresses my own opinions. I am not, nor is my company, receiving compensation for it.

About Shelly Palmer

Shelly Palmer is the Professor of Advanced Media in Residence at Syracuse University’s S.I. Newhouse School of Public Communications, co-founder of Metacademy, and the CEO of The Palmer Group, a consulting practice that helps Fortune 500 companies with technology, media and marketing. Named LinkedIn’s “Top Voice in Technology,” he covers tech and business for Good Day New York, is a regular commentator on CNN and CNBC and writes a popular daily business blog. He’s the Co-Host of the award-winning podcast Techstream with Shelly Palmer & Seth Everett and his latest book, Blockchain - Cryptocurrency, NFTs & Smart Contracts: An executive guide to the world of decentralized finance, is an Amazon #1 Bestseller. Follow @shellypalmer or visit shellypalmer.com.

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