Saturday, September 23, 2023

Animoca Brands Invests in Sky Mavis


With over $1.6 million non-fungible tokens sold, Axie Infinity is one of the highest-grossing blockchain games in the world.

The Axie Infinity pet game, developed by Sky Mavis, a blockchain game developer that is based in Vietnam and Singapore. In the agreement between Sky Mavis and Animoca Brands Corporation Ltd. (ASX), Animoca will receive around $610,000 worth of Sky Mavis shares in exchange for cash and for shares in Animoca. From 500 startups plus from Hashed, Pangea Blockchain Fund, ConsenSys, and Animoca. Sky Mavis was able to raise an average sum of $2.13 million.

Blockchain’s Main Focus

Funds gained by Sky Mavis utilizes for the speedy development of Axie Infinity. Sky Mavis plans to include additional features into Axie and to move forward in the crypto gaming industry. Animoca and Sky Mavis agreed to assist each other in exploring new market opportunities. As well as promoting each other’s products on their separate networks and platforms. Aside from these, both also came into understanding on engaging in discussions that are good avenues to publish Sky Mavis’s products in different markets. This is through a signed Collaboration Memorandum of Understanding. 

Yat Siu is Animoca co-founder and chairman. He stated that their network delights and privileges to be investors of and to be working with Sky Mavis which he regarded as one of the most successful and famous blockchain games available now in the market. He added that he is very much looking forward to a meaningful partnership with Sky Mavis.

The Blockchain-based Game Axie Infinity

Axie Infinity, a pet game in blockchain technology, launched in 2018. It is currently one of the top-grossing blockchain games. It has more than $1.6 million of non-fungible tokens or NFTs sold. Axie Infinity designs wherein players compete, nurture, and trade Axies which are fantasy creatures and are the visual representations of NFTs which are owned by the players. Each Axie character or creature has its own traits and appearance that is not present in other Axie creatures. 

More than 25,000 transactions which total value is around $2.62 million has processed in its in-house marketplace. As of today, Axie Infinity has made partnerships with Loom Network, Samsung, and MakerDAO. As well as Klaytn which is the blockchain project of Kakao. A new card game set mobile application is planned to release by Sky Mavis in the Axie Universe. It designs to introduce to the public the concept of “play to earn” through competitive, interesting, and immersive gameplay. The network expects to launch the game by the first half of 2020.

Mary Santos
Mary Santos
Mary Santos has a degree in economics and after a successful career as an investment analyst, she found an interest in Cryptocurrency. Mary enjoys finding the latest scoop on crypto news.

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