In this Metacast episode, Anil Das-GuptaAaron Bush and Chong Ahn, join your host Maria Gillies to discuss Axie Infinity’s Ronin Sidechain hack and its implications on Sky Mavis’ future. The team also dives deep into PlayStations new subscription service and how its positioned against Xbox Game Pass. The group also celebrates Miniclip crossing 4 billion downloads, and how the site influenced current game genres and how the company has built such an enduring legacy.

Axie Infinity’s Ronin Sidechain Hack


  • Ronin: Ethereum sidechain for leading P2E game Axie Infinity, developed by Sky Mavis
  • Last week, US$622M of ETH was stolen by a hacker
  • Largest hack in the history of crypto - likely a watershed moment
    • That said, other past hacks may have had more significance as they posed an existential threat to cryptocurrency, eg Mt. Gox in 2014
    • Brought Ronin’s value down by 20%
    • Currently thought to be an internal breach


  • More bad actors becoming interested in hacking crypto companies
  • Ronin may become seen as unreliable
  • The stolen money is likely irretrievable as crypto is difficult to track
  • Crypto companies will likely double down on security measures e.g. more thorough background checks, stronger validator networks.

Moving Forward

  • Sky Mavis has been very transparent about the issue which has contributed to continued loyalty and support from their users
  • They’re expected to recover and are handling the situation admirably
  • The incident has raised questions about the security of crypto. Crypto companies should remain vigilant.
    • Reminds us that blockchain does not guarantee security
    • A company should only have as many nodes as they need to minimise vulnerability to breaches. Sky Mavis has 9 nodes.
    • Companies should also keep in mind how many clients they have (single vs multiple)

New PlayStation Plus Subscriptions


  • Sony unveiled a new 3-tier PlayStation Plus subscription service
  • Replaces the current ‘Playstation Now’ with ‘Essential’, ‘Extra’, and ‘Premium’ tiers
    • Extra allows access to PS4 and PS5 games
    • Premium gives access to original Playstation, PS2, PS3, and PlayStation Portable games
  • Not a transformative move. The increased differentiation does help target and retain a wider range of PlayStation fans.

Framing Versus Xbox Game Pass

Widely seen as Sony’s answer to Microsoft’s Xbox Game Pass, with key differences being:

  • No plans for exclusive same-day launches to drive uptake
  • Still console-centric, vs Xbox which provides support across console, PC, phones and tablets
  • More fundamentally, part of a shift towards subscription-based revenue

Longer-Term implications

  • Sony still boasts a dominant market share in console gaming. However, focusing only on console risks becoming more and more niche over time, e.g. Nintendo.
  • In the longer run, consoles could lose relevance in general amongst younger mobile-first gamers.
  • Against the backdrop of industry consolidation, Microsoft (acquiring Activision Blizzard) and Sony (acquiring Bungie) may build up more exclusive games in their respective silos → could raise antitrust concerns

 Miniclip Exceeds 4B Downloads


  • Launched in 2001, Miniclip has created many popular and enduring browser games such as 8 Ball Pool and Tanki.
  • This week, it exceeded 4 billion downloads across its mobile games portfolio, with 8 Ball Pool accounting for ~1 billion downloads.
  • Accessible to millennials who had access to PCs before consoles
  • Played a leading role inspiring this generation of hyper casual mobile games

Factors leading to success

  • Agile - regularly revamping games, adapting quickly to new platforms
  • Games focus on essential mechanics rather than than aesthetics or complexity, creating safe, simple, and timeless games easily enjoyed by all
  • With such a wide variety of games, they can reach nearly all audiences
  • Robust tech stack, including multi-player support with

Miniclip could create more robust, complex products as they have a very strong foundation