The Vietnamese company Sky Mavis, which produces the Axie Infinity game and its associated internal token, is currently conquering the crypto space. The game, in which cute animals act as NFTs, is hugely popular nowadays. Sky Mavis has organized an impressive round of funding. The startup company, founded in 2018, was able to raise a total of $ 152 million.
NFTs open up a new kind of game
“At first, almost no one knew what NFT was, let alone Axie. NFTs have penetrated the gaming industry today and Axie is the largest NFT project of all time. Together with our community that spans all corners of the world, we have launched a movement to change the essence of the industry. We have always believed that NFT will allow us to create a new type of game that will provide economic freedom for its players, ”the startup said.
Axie Infinity allows players to buy, breed, exchange Axie characters and engage in duels with other Axies. The Ethereum blockchain in the background ensures each Axie is unique. The AXS token serves as the in-game currency, and if players invest real money in it, they receive tokens during the game. Investing in the respective cryptocurrency even gives them a say in the further development of Axie Infinity.
Axie Infinity has two million users every day
Recently, this concept has been very popular with users, over the past week, the cost of AXS has doubled to $ 123. Of course, this also attracts investors. At $ 152 million, new Series B funding can be seen. It is led by California-based investment firm Accel. “This new round of funding will enable us to revolutionize the game-to-earn concept, attract incredible talent from around the world, scale our infrastructure for expected growth, and build our own distribution platforms to help game developers create NFT-enabled products,” they said. Sky Mavis.
The startup is optimistic about the future. Axie Infinity has been thriving this year. According to Sky Mavis, there were 38,000 daily active players in April. Now there are more than two million of them, although the game is not even available in regular app stores. With the new capital, the company wants to further develop the game and continue its own growth.