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.
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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.
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