Axie Infinity Developer Sky Mavis Raises $1.5 Million

via Axie Infinity

Sky Mavis, the company behind blockchain collectible game Axie Infinity, announced on Thursday that it has raised $1.465 million in a funding round led by Animoca Brands with participation from Hashed, Pangea Blockchain Fund, ConsenSys and 500 Startups.

According to the announcement, the new capital will be used to accelerate the development of the Axie Infinity universe, build out the company’s development team and reach a broader audience through targeted marketing. The team is also focused on bringing the game’s mobile app to the market, further reducing the barriers to mass adoption.

“I’m so proud of our team and community,” said Trung Nguyen, CEO and co-founder of Sky Mavis. “This is what Blockchain development is all about, a small team from Vietnam being able to attract funding from some of the top investors in the space. We now have the resources to take the Axie vision to people in the real world. We’re fully focused and locked in on the mobile app launch right now ‚ÄĒ we can’t wait to show it to everyone.”

Axie Infinity has seen over $1,100,000 worth of game assets sold and $1,800,000 in trading volume between players, according to Sky Mavis, making it one of the most-used blockchain games to date.

“It has given me much pleasure to work with the Sky Mavis team who truly appreciates the value of community engagement,” added Hashed’s managing partner, Kyuntae Ethan Kim. “Building on top of its strong fan base from the beginning, the team implemented impressive strategies to evolve the blockchain gaming industry to the next level. I personally look forward to what new heights it can set to usher in the age of virtual world we believe in.”

It’s been a busy few weeks for Axie Infinity. At the end of October, the game joined Loom Network (LOOM) as a network validator and partnered with Samsung to bring Axies to the Samsung Blockchain Wallet.

More: Sky Mavis Raises ~$1.5M to accelerate the development of Axie Infinity
Recent: Samsung Adds Support for Axie Infinity to Its Blockchain Wallet

Disclaimer: This article’s author has cryptocurrency holdings that can be tracked here. This article is for informational purposes only and should not be taken as investment advice. Always conduct your own due diligence before making investments.

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