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Ronin may be best known as the Ethereum sidechain behind Axie Infinity, the monster-winning game that shot NFT gaming into the spotlight in 2021. But now Ronin is drawing attention to other games – and activity on the network is increasing following the launch of the Pixels game last week.
The number of active wallet addresses on Ronin has practically tripled in recent days, according to data shared on Twitter by Alex Svanevik, founder and CEO of cryptanalysis firm Nansen. As of early Wednesday, they show a jump from just over 20,000 active wallet users daily to around 70,000.
All the while, Ronin’s native token RON has been inflating, posting a 13% increase over the past 24 hours to a current price of about $0.68, according to CoinGecko. Additionally, RON has risen 37% in the past week and 59% in the past 30 days, though other gaming tokens have also seen significant jumps in recent weeks.
Pixels, which was previously on Etherium’s Polygon scaling network before migrating to Ronin, officially launched on the Axie network on October 31. The game recreates the atmosphere of a classic 16-bit role-playing adventure, allowing players to move through a pixelated world while interacting with each other, farming the land, playing minigames and earning rewards of tokens.
Pixels are officially live at @Ronin_network!
This release is huge…
Ronin Migration
Carnival of Pixels
Pixels Genesis Pets Mint
@Moku_HQ PartnershipMake sure you read everything below pic.twitter.com/Hj1WEEUzjD
– Pixels (@pixels_online) October 31, 2023
It also allows owners of select NFT Profile Picture (PFP) collections to use their owned avatars in-game, with projects such as Bored Ape Yacht Club and CrypToadz being supported.
Ronin, developed by Axie Infinity creator Sky Mavis, has incorporated additional games into the Ethereum scaling network, including The Machines Arena, Zoids Wild Arena and the CyberKongz Play and Kollect game.
The Ronin network experienced a $622 million hacking attack on its Ethereum bridge in March 2022, which was later blamed by the U.S. Treasury Department on the notorious North Korean state-sponsored hacking group Lazarus. Sky Mavis eventually recovered the stolen funds for users and refunded about 10% of the stolen funds redirected through centralized exchanges.
Axie Infinity’s proprietary tokens have also seen price increases in recent weeks, with the AXS management token rising 42% over the past 30 days to a current price above $6.00, while the SLP reward token jumped 71% over that period to a price above $0.002 per token.
