The Maker of Axie Infinity, Sky Mavis, Gets Investment From Animoca Brands

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According to the latest reports, Sky Mavis and Animoca Brands Corporation Limited have entered into a collaboration. As a part of the partnership, Animoca will be acquiring Sky Mavis’ shares worth around $610,000 in exchange for its own shares and cash.

Sky Mavis, one of the well-known blockchain game developers, has its basis in Vietnam and Singapore. The company enjoys global popularity for its pet game called Axie Infinity. Animoca Brands Corporation, on the other hand, is a global developer that makes engaging applications ranging from fitness solutions to games, leveraging gamification, AI, blockchain, popular brands, and mobile technologies.

As per the reports, Sky Mavis has successfully raised a whopping sum of around 2.13 million dollars from Animoca. Apart from that, the game developer has also raised funds from other companies, such as Hashed, ConsenSys, Pangea Blockchain Fund, as well as 500 Startups.

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On this exciting new development, the chairman and co-founder of Animoca, Yat Siu, shared his views in a statement saying that they are honored and pleased to have invested in Sky Mavis and looking forward to working with them. Siu also went ahead to acknowledge that Sky Mavis has made Axie Infinity into one of the most popular and successful blockchain games present in the market.

The reports also noted that the fresh new funds would be utilized by Sky Mavis to accelerate Axie Infinity’s development further and to add more features. The firm also intends to continue driving the industry of blockchain gaming forward.

An MoU (Memorandum of Understanding) has also been signed between these two entities wherein both the firms would be exploring possibilities to promote and market each other’s product offerings to their respective networks and platforms. Animoca would also be engaged in discussions for publishing the products of Sky Mavis in different markets.

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About the Game

The popular game Axie Infinity lets players battle, raise, trade, and evolve fantasy creatures known as Axies. These Axies are nothing but the visual representation of the NFTs (non-fungible tokens) that the players own. What’s interesting is no Axie is the same; they all have distinct attributes and looks and can’t be replicated.

The game that was unveiled last year now finds itself in the list of the highest-grossing blockchain games with more than 1.6 million dollars in NFT sales. The inhouse marketplace of the game has processed more than 25K transactions, valuing around 2.62 million dollars in total.

In addition, the game has also joined hands with Loom Network, MakerDAO, Samsung, and Kakao’s blockchain project called Klaytn.

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Roxanne Williams

Roxanne Williams has recently joined as a market reporter for CryptoNewsZ - the 24/7 crypto news site, where she produces recent stories, technical analysis and price updates on world's leading cryptocurrencies.

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