Axie Infinity maker Sky Mavis raises $152m in Series B funding

Sky Mavis, the Vietnam-based blockchain game developer behind the popular NFT game Axie Infinity, announced raising $152 million in Series B funding led by Andreessen Horowitz (a16z).

The funding round, which was also participated by US venture capital firms Accel and Paradigm, sends Sky Mavis’s total funds raised to date to $161 million, as per the announcement.

The funds will fuel the growth and development of Axie Infinity and Ronin, the company’s scaling solution for digital nations.

The new round also comes shortly after the game developer raised $7.5 million in a Series A funding led by UK-based Libertus Capital in May this year.

“This new funding round will allow us to fuel the play-to-earn revolution, bring in incredible talent from across the globe, scale our infrastructure for expected growth, and build our own distribution platforms to support game developers to create NFT-enabled games,” Sky Mavis said.

Since its launch in 2018, Sky Mavis said Axie has broken records. It has become the Number 1 NFT project of all time by almost any trackable metric:

• It has grown from 38,000 daily active players in April of this year to over 2 million today! This is all without being on legacy app stores.
  $2.2 billion in volume traded on its proprietary NFT marketplace.
• The invention of the scholarship model is redefining the future of work and has created hundreds of thousands of jobs in countries severely impacted by the pandemic.
• Over 2 million wallets and $4.5 billion in total value locked on Ronin, our Ethereum sidechain.
• Gifted over $100 million of AXS tokens to more than 10,000 of its founding community members.

“When Axie was born in February 2018, almost nobody knew what an NFT was, let alone an Axie. Today, NFTs have permeated mainstream culture and Axie is the largest NFT project of all time. Together, with our community that spans every corner of the earth, we’ve started a movement that will redefine the nature of work,” Sky Mavis said.