Axie Infinity to Raise $150M Series B at $3B Valuation: Report
Blockchain-enabled play-to-earn sport Axie Infinity is elevating roughly $150 million in a Series B capital spherical at a $3 billion valuation, in line with reporting on Monday by The Information.
- Citing two unnamed sources “with direct knowledge of the deal,” The Information wrote that enterprise big Andreessen Horowitz is main the spherical.
- The monster-battling sport, which makes use of non-fungible tokens (NFTs) to reward gamers, made 64,933.71 ether (ETH), which was price $220.32 million, in September. That was down from a report $342 million in August, knowledge middle Axie World exhibits.
- But September’s determine nonetheless represents an almost 3,000-fold year-over-year development.
- Launched by Sky Mavis in 2018, Axie Infinity got here into the highlight within the early third quarter of this yr as yield compression in bitcoin and DeFi drove sizzling cash into gaming and NFTs.
- The sport has change into a big supply of earnings in international locations like Brazil, the Philippines, Venezuela and Vietnam. It’s change into so well-liked within the Philippines that the federal government has expressed its intention to tax Axie gamers.
- Axie Infinity’s AXS token hit a report excessive on Monday after it just lately announced that it might distribute over $60 million price of tokens to its early adopters, in addition to launch staking capabilities.
UPDATE (Oct. 4, 21:56 UTC): Updated with extra background in fourth, fifth and sixth bullet factors.