“It’s a chance for us to slide in.”Īfter we first talked, Axie Infinity co-founder Zirlin found me and gave an additional unprompted explanation for his decision to come to the party amidst his company’s crisis. It’s going to sound horrible,” said Wesley Peeters CTO of Pixie Interactive, a company whose play-to-earn game will debut soon. Outside the party, employees of an Axie competitor couldn’t help but gloat over cigarettes. “When I found out what was going on I was like, ‘Damn! I’d be mad too!’” Omar, Pattern Bar’s hulking doorman, said he was initially surprised by some of the partygoers’ sullen attitudes until he learned about the hack. “It’s almost like, ‘Should I even be involved in this?’” said Wenum. Wenum called Axie’s hack an “eye-opener” and said it made him question the emergence of companies taking on large roles in the crypto space, undermining the distributed nature of the system that attracted them in the first place. He got into crypto in 2014 and had some of his early funds hacked - crypto valued at around $500 at the time, which he estimates would be worth a million dollars today. Jon Sarlin/CNNīrad Wenum stood with a drink in hand by the outskirts of the bar. People attend the Axie Infinity meet-up in Los Angeles, California. Many said they believed that the funds will end up being recovered somehow. Each one ends up becoming an expensive but necessary learning lesson, they said. Many cited how common hacks in the crypto space are. The company did not directly respond to CNN’s question on whether the hacked holdings were insured. They’ve gotten where they have for a reason.” “I think they’re going to find a way to get it back or if there’s insurance on it. “I think they’re going to recover,” said Vince Zolezzi, who told me that a quarter of his portfolio is in the Ronin network. “I’m an optimist,” said Chris, who declined to give his last name, with a shrug. When asked if they were concerned about their investments, many of the the assembled Axie crowd were zen about their holdings. Despite the shadow cast by the hack, there was a palpable excitement to the gathering. Surrounding Zirlin, over nachos and complimentary margaritas, the Axie faithful mingled. “It’s rough, man.”Īxie Infinity Co-founder Jeff 'The Jiho' Zirlin, center, greets Albert 'Aruchan' Takagi, left, at the Axie Infinity NFT LA party. It’s not the type of thing that we need as an industry to move forward,” said Zirlin.

In an interview with CNN, Zirlin said he was first informed of the hack at 2am that morning. Zirlin’s mood was noticeably more subdued than the partygoers surrounding him. “Jiho is here,” whispered one excited Axie fan as lollipops shaped as Axie creatures circulated. “We realized the Ronin network has been exploited for 173,000 and around 25 million dollars in USDC,” Zirlin announced to a stunned crowd during his keynote, under a screen with the words “State of the NFT Union: Where we are today and what’s next.”Īnd so hours later at Pattern Bar on Los Angeles’ Main Street, the big question on everyone’s mind: would Zirlin still attend?Īround 6pm, the crowd perked up as Zirlin entered the room wearing a snug black Axie Infinity hoodie. Axie Infinity fans and investors - the lines can be blurred with play-to-earn games, where the more you game, the more you earn in crypto - flew in from around the world to attend the gathering.Īnd yet 30 minutes before Zirlin went on stage, his company put up a blog informing the world of the hack. Jeff “The Jiho” Zirlin, Axie Infinity’s 31-year-old co-founder, was tapped to give the keynote address at the inaugural NFT LA that took over Los Angeles’ LA Live convention center. Jeff Jiho Zirlin, co-founder of Axie Infinity, speaks during NFT LA Bing Guan/Bloomberg/Getty Images

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