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Sky Mavis Raises $150 Million to Launch New P2E Game After Record $625M Hack

Sky Mavis, the creator of the popular blockchain game Axie Infinity, which suffered one of the biggest hacks in the history of crypto, has raised $150 million in its latest funding round.

Sky Mavis Raises $150 Million in Funding Round

Sky Mavis’s recent $150 million funding round brings its total capital raised to $311 million. Binance joins the funding round amidst existing backers, Andreessen Horowitz, Accel, Paradigm, and Animoca Brands.

However, most of the investment in this round comes from a secondary offering, in which the founders of Sky Mavis sold down their personal shareholdings.

The funds raised in this round will be used to reimburse users who were the most affected by the fund. Sky Mavis CEO Trung Nguyen said;

“Sky Mavis is committed to reimbursing all of our users’ lost funds and implementing rigorous internal security measures to prevent future attacks.”

Sky Mavis Launches Axie Infinity: Origin

Along with its funding round, Sky Mavis has announced the global early access release of its free-to-play game Axie Infinity: Origin, a more accessible web-based game in the Axie franchise.

The new standalone free-to-play Origin web game is available for download on Mavis Hub, Sky Mavis’s distribution platform. However, at the moment, it is not available on Android or iOS.

On The Flipside

Why You Should Care

Sky Mavis hopes to regain the trust of its users by moving to reimburse its users and launching a new game in the Axie franchise.

This article is for information purposes only and should not be considered trading or investment advice. Nothing herein shall be construed to be financial legal or tax advice. Trading Forex, cryptocurrencies, and CFDs poses a considerable risk of loss

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Author

Milko Trajcevski has been in the crypto world for years, and as such has gathered both a skill for writing as well as a native prowess when it comes to understanding everything that occurs within that world. Through skilled writing and determination, he covers articles about cryptocurrency, tokens, blockchain, crypto-asset regulations, crypto wallets, exchanges, liquidity, DApps, forks, mining, security, and blockchain technologies. He is a professional with a track record of proven expertise within the crypto space.