Blockchain-enabled play-to-earn sport Axie Infinity is elevating roughly $150 million in a Sequence B capital spherical at a $3 billion valuation, in line with reporting on Monday by The Data.
- Citing two unnamed sources “with direct data of the deal,” The Data 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 value $220.32 million, in September. That was down from a document $342 million in August, information middle Axie World reveals.
- However September’s determine nonetheless represents a virtually 3,000-fold year-over-year progress.
- Axie Infinity’s most up-to-date fundraising spherical was a $7.5 million collection A introduced on Could 11, 2021, in line with Crunchbase. The spherical’s lead investor was Libertus Capital, and different traders included Reddit co-founder Alexis Ohanian, Dallas Mavericks proprietor Mark Cuban, the Collaborative Fund and 500 Startups Vietnam.
- Previous to that, Axie Infinity had raised a $1.5 million seed spherical led by cellular sport writer Animoca Manufacturers that was introduced on Nov. 7, 2019.
- 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 scorching cash into gaming and NFTs.
- The sport has turn out to be a major supply of revenue in nations like Brazil, the Philippines, Venezuela and Vietnam. It’s turn out to be so in style within the Philippines that the federal government has expressed its intention to tax Axie gamers.
- Axie Infinity’s AXS token hit a document excessive on Monday after it lately announced that it could distribute over $60 million value of tokens to its early adopters, in addition to launch staking capabilities.
UPDATE (Oct. 4, 21:56 UTC): Up to date with further background in sixth, seventh and eighth bullet factors.
UPDATE (Oct. 4, 22:12 UTC): Up to date with details about Axie’s earlier fundraising in fourth and fifth bullet factors.