Blockchain-enabled play-to-earn sport Axie Infinity is elevating roughly $150 million in a Sequence B capital spherical at a $3 billion valuation, in line with reporting on Monday by The Info.
- Citing two unnamed sources “with direct data of the deal,” The Info wrote that enterprise big Andreessen Horowitz is main the spherical.
- The monster-battling sport, which makes use of non-fungible tokens (NFTs) to reward gamers made 64,933.71 ether (ETH), price $220.32 million, in September. That was down from a report $342 million in August, knowledge middle Axie World reveals.
- However September’s determine nonetheless represents a virtually 3,000-fold year-over-year progress.
- Launched by Sky Mavis in 2018, Axie Infinity got here into the highlight within the early third quarter of this yr as yield compression in bitcoin and DeFi drove scorching cash into gaming and NFTs.
- The sport has change into a big supply of revenue in international locations like Brazil, the Philippines, Venezuela and Vietnam. It’s change into so fashionable within the Philippines that the federal government has expressed its intention to tax Axie gamers.
UPDATE (Oct. 4, 21:24 UTC): Up to date with extra background in fourth and fifth bullet factors..