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Axie Infinity developers get $ 152 million in funding



The studio behind the now-famous NFT game Axie Infinity, Sky Mavis, has secured $ 152 million in a Series B funding round. The game's developers announced this news today. They pointed out that well-known investors such as Andreessen Horowitz (a16z), FTX and Accel took part in the financing round.

According to the announcement, these funds will be used to fund the growth and development of Axie Infinity as well as Ronin, the game's Ethereum sidechain. In doing so, the company hopes to give players economic and financial freedom. In addition, the company would like to develop a distribution platform to help game developers create NFT games.

Axie Infinity has developed at an amazing pace. Even so, Sky Mavis admits that bringing institutional investors into its community is vital to the game's reach. In addition, the company believes that reputable investors can help it strengthen legitimacy in terms of regulatory protection.

In addition, the developers assume that more flexibility can be achieved with new investors. Mainly to scale the game and add to the development team. All of this should happen without using up the token reserves of Axie Infinity (AXS).

Axie Infinity continues to grow

The Axie Infinity ecosystem has grown rapidly over the past few months, as evidenced by the number of players who have joined the game to date. According to Sky Mavis, the number of players has grown from 38,000 daily active players in April to over two million. Even though the game is not available in any major app stores.

The company also noted that users have already processed over $ 2.2 billion in transactions through the NFT marketplace. At Siedechain Ronin, this number is even higher: 4.5 billion.

As a result of this growth, AXS has achieved a price increase of over 1,300% in the past three months. At the time of this writing, a token costs about $ 129.39 after losing 7.08% in 24 hours. That figure represents a 16.23% drop from the October 4th all-time high of $ 155.08.

Revolution in the game industry

Andrei Brasoveanu, the partner at Accel, explained why Accel decided to invest in Sky Mavis

The company has the potential to revolutionize the gaming world. The Sky Mavis team is redefining the play-to-earn gaming industry.

Sky Mavis is also preparing to launch Ronin DEX. It is a decentralized exchange that supports the direct trading of game tokens such as AXS and Smooth Love Potion (SLP). The company's roadmap also includes the development of Project K. It is a game in which players can harvest resources, build structures and fight for territory in Lunacia, Axie's homeland.

This news comes at a time when NFT-based platforms are becoming increasingly popular with investors. Prior to Axie Infinity, Sorare, a French NFT startup, raised $ 680 million in a Series B financing round.

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