Home News Axie Infinity developer secures $152M in Series B funding from investors

Axie Infinity developer secures $152M in Series B funding from investors

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The Sky Mavis project, which created the popular NFT game Axie Infinity, raised $152 million following the results of the Series B funding round. The funds came from Andreessen Horowitz (a16z) and other well-known investors.

Thus, according to The Information, Accel and Paradigm also participated in the round. The startup’s valuation has reached $3 billion.

Sky Mavis will direct funds to expand the team and scale the infrastructure. Investments will also be used to create the Mavis Hub platform to support developers of blockchain games based on the Ronin sidechain for Ethereum.

Economic freedom for gamers

“We are creating economic freedom for gamers by turning them into owners of gaming assets. This distinguishes us from the traditional model, when publishers, distribution platforms and developers retain control and get the maximum benefit”. Explained Sky Mavis founder and CEO Trung Ngyen.

The gameplay of Axie Infinity based on the Play2Earn principle is built around axie creatures, each of which is an NFT token. Players are busy breeding them, fighting and trading.

Moreover, according to the press release, the daily audience of Axie Infinity exceeded 2 million users. In addition, the volume of transactions is $2.2 billion.

Continuing the development of Project K

“The popularity of Axie speaks to the deep response of such a model [Play2earn] among people around the world. The team caused an earthquake in the gaming industry. It will never be the same again,” said Arianna Simpson, general partner of a16z.

The team plans to upgrade the game’s combat system, including enabling access to the game without buying axie, launching Ronin DEX for trading in-game tokens and continuing the development of Project K.

Recall that earlier in September, the co-founder of Sky Mavis announced Axieland. Axieland is similar to the popular strategy game Clash of Clans for mobile devices. It also has to collect resources, build cities and fight for territories.

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