Playing this game can earn you money. Axie Infinity’s remarkable growth continues. It has over 1.8 million daily users and up to $33 million in daily revenues in August. According to CryptoSlam, the game sells about $2.3 billion since its March 2018 release.
Sky Mavis, the company behind Axie, announced on Tuesday a $152 million Series B investment from Andreessen Horowitz valued at $3 billion. The News reported.
The funds will use to expand the company’s personnel and scale infrastructure. As well as to grow out its own distribution platform to help outside developers create blockchain-enabled games.
Axie Infinity is a fun and profitable game. Axies animate characters that gamers can treat as pets. Taking care of the so-called Axies, trading them, and collecting rare Axies are ways to earn money.
Axie Infinity’s AXS token hit a new high on Monday after announcing last week that it will issue over $60 million in early adopter tokens and allow staking.
Play to Earn
The latest financing news comes as “play-to-earn” crypto projects like Axie draw both gamers and investment organizations.
According to Sky Mavis CEO Trung Nguyen, Axie Infinity is a classification game that is transforming history.
Nguyen went on to claim that they’re on a mission to provide gamers economic freedom. Rather than the traditional paradigm that favored publishers, distribution platforms, and game creators.
The game, according to the business, offers economic independence to poor countries hit hard by COVID-19 unemployment. Sky Mavis claims that 25% of players are unbanked and 50% have never used cryptocurrency.
Sky Mavis’ flagship game, Axie Infinity, has created a new alternative for anyone to transform their time into money, according to Arianna Simpson, the general partner at Andreessen Horowitz.
Arianna Simpson also adds that the Axie team unlocks a new approach to creating and enjoying games that are already altering the genre. The game’s popularity demonstrates how well this approach is connecting with people all across the world.
Venture capital firms Accel Partners and Paradigm involves in the newest fundraising round.
