Jihoz.ron (@Jihoz_Axie): That was a brutal shakeout.
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That was a brutal shakeout. We lost a bunch of teams and soldiers as the excesses of 2021 took a lot of time to work off. Gaming was the hottest subsector of crypto in '21. But aside from a great 2023/2024, it's underperformed dramatically. And a lot of it is OUR fault. My fault. Here's the history of crypto gaming from my perspective. 2017: CryptoKitties moment. Gaming exposes scability issues with Ethereum 2018: CryptoKitty decline. Formation of Axie community. 2019: Bear market. Some interesting experiments with tokenization of game items. Axie Land sale. 2020: Axie Classic launched. SLP pumped by 4chan /biz creating pumpanomics flywheel. AXS launched on Binance. Binance lists SLP. Axie hits 10,000 DAU. 2021: Axie goes crazy. Billions pumped into crypto gaming. Lots of bad teams funded. Launch of Ronin. 2022: Pain and torture. 2023: Pixels goes crazy at the end of the year. 2024: Pixels/Ronin go crazy. Opportunistic teams start showing up again. RON makes ATH but underperforms since then. 2025: Pain and torture. 2026: More pain but signs of renewal and final capitulation from bad teams. Interesting experiments start showing up again. It's been a mental rollercoaster to go through this. But I'm always able to find some perspective and reasons to be grateful. Axie, if it weren't for a few meetings and even taking on a third party dev contract would have died in 2018 and none of these "problems" would even exist. And that would be a much sadder timeline. So in some ways, it's a blessing to still be here, alive when others are giving up or being forced to fold. And i'm grateful to everyone who's shared moments with us on this journey, and of course, to those that are still here. Maybe crypto is over and the haters will be finally right. But that's never been the case. And it's always been during these moments of pain that sunlight begins to break through. Cycle theory says we bottom in October/November. Perhaps we bottom now. TBH i don't care, because the market isn't something I can control. What we can do is make sure that we do the hard work and lay the foundation so that when the time comes we're positioned correctly, with strong products, strong community, and innovation. Anyways. Now we're here. And teams are starting to pick up the pace again. Here's what I saw over the weekend! https://x.com/PlayCalamity/status/2082869177740624044?s=20 https://x.com/Ronin_Network/status/2084130188552552954?s=20 https://x.com/Ronin_Network/status/2083207588343087165?s=20 https://x.com/AxieInfinity/status/2083544216563495394?s=20