Axie Infinity Devs Raised $152 Million from Andreessen Horowitz, Paradigm, Accel: Details

The Sky Mavis team assures readers that fresh funding will allow it to empower the "Play-to-Earn" revolution for Axie Infinity, Ronin, Project K and more of the company's products.

$152 million raised by Sky Mavis; Andreessen Horowitz, Accel, Paradigm led the round

According to the official announcement shared by the Sky Mavis team, it has successfully completed its Series B funding round. A total of $152 million were raised.

We've raised a $152 M Series B led by @a16z for @SkyMavisHQ!

✨The funds will be used to fuel the expansion of Axie Infinity and Ronin, our scaling solution for digital nations.https://t.co/5vRXmHarlp

— Axie Infinity?? (@AxieInfinity) October 5, 2021

Sky Mavis' Series B funding round is supported by a clutch of high-profile VC funds, such as Andreessen Horowitz, Paradigm and Accel. Also, FTX, Samsung and Standard Crypto funds took part in this funding.

Andrei Brasoveanu, partner at Accel, stresses the importance of Axie Infinity and other Sky Mavis projects for the entire segment of GameFi protocols:

As soon as we met Trung, Aleks, and Jiho and immersed ourselves in the Axie Infinity universe, it was clear that Sky Mavis had the power to revolutionize the gaming world as we know it. The team is building a category-defining play-to-earn NFT gaming and infrastructure company and we’re thrilled to be partnering with them as they continue to break new, ambitious frontiers.

As covered by U.Today previously, AXS, a core native asset of Axie Infinity, soared to a new all-time high yesterday after an eye-watering double-digit rally.

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Smooth Love Potion (SLP), another crucial token of the Axie Infinity metaverse, also rallied 50% in three days to revisit its local high.

From platform to ecosystem

The Sky Mavis team announces that, with the new funding, it will expand the reach of GameFi products, advance regulatory compliance and launch an aggressive hiring campaign "without touching AXS" reserves.

When it comes to the company's suite of products, Sky Mavis shares its plans to introduce a demo mode for Axie Infinity and to launch Ronin DEX, a native decentralized exchange for in-game tokens.

Also, the team is working heads down on Project K, a brand-new land-based strategy game.