Sky Mavis, the team behind the pioneering “Play-to-Earn” ecosystem, Axie Infinity
Contents
- $152 million raised by Sky Mavis; Andreessen Horowitz, Accel, Paradigm led the tour
- From platform to ecosystem
The Sky Mavis team assures readers that the new funding will allow it to enable the “play-to-earn” revolution for Axie Infinity, Ronin, Project K and more of the company’s products.
$152 million raised by Sky Mavis; Andreessen Horowitz, Accel, Paradigm led the tour
According to the official announcement shared by Team Sky Mavis, it has successfully completed its Series B funding round. A total of $152 million was raised.
We raised $152 Series B Led @a16z NS Tweet embed!
The funds will be used to support expansion of Axie Infinity and Ronin, our expansion solution for digital nations. https://t.co/5vRXmHarlp
AxieInfinity🦇🔊 October 5, 2021
Sky Mavis’ Series B funding round is backed by a group of high-profile venture capital funds, such as Andreessen Horowitz, Paradigm and Accel. Also, FTX, Samsung and Standard Crypto funds participated in this financing.
Andrei Brasoveanu, Partner at Accel, underlines the importance of Axie Infinity and other Sky Mavis projects to the entire sector of GameFi protocols:
Once we met Trung, Aleks, and Jiho and plunged into the world of Axie Infinity, it was clear that Sky Mavis had the potential to revolutionize the world of gaming as we know it. The team is building an NFT gaming company and infrastructure that defines the gaming category to win, and we’re thrilled to partner with them as they continue to break new and ambitious heights.
As previously covered by U.Today, AXS, one of Axie Infinity’s primary asset, soared to a new all-time high yesterday after a double-digit rally.
Smooth Love Potion (SLP), another important symbol of the Axie Infinity metaverse, has also gone up 50% in three days to reconsider its local altitude.
From platform to ecosystem
The Sky Mavis team announced that with the new funding, it will expand GameFi’s product range, enhance regulatory compliance and launch an aggressive recruitment drive “without compromising AXS reserves.”
When it comes to the company’s suite of products, Sky Mavis shares its plans to introduce a beta mode for Axie Infinity and launch Ronin DEX, the original decentralized exchange for in-game tokens.
Also, the team is working directly on Project K, an entirely new ground-up strategy game.
