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
- Launching just a week after the massive $625 million hack creates a huge hurdle for Axie Infinity: Origin.
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.