Axie Infinity developer Sky Mavis to raise $150 million at a $3B valuation: Report

Sky Mavis, the developer of the popular NFT game Axie Infinity, is raising approximately $150 million in Series B funding at a $3 billion valuation, according to the Information. Citing two unnamed sources with direct knowledge of the deal, The Information said that Andreessen Horowitz is leading the funding round.

According to the data conveyed by DappRadar, in September, the popular NFT game Axie Infinity hit the $2 billion milestone in all-time sales. The game made 64,933.71 ethereum, which was worth $220.32 million in September, representing nearly 3,000-fold year-over-year growth. 

Announcing a $7.5 million Series A round on May 11, 2021, Sky Mavis raised a seed round of $1.5 million from Animoca Brands in November 2019.

According to DappRadar data, as of September, there are over 615 thousand people trading NFT in Axie Infinity and those traders have bought or sold Axie Infinity NFTs, in upwords of a total of 4.88 million transactions to date. That means, the average transaction price for Axie Infinity NFTs is worth $420.

Axie Infinity’s AXS token hit a record high on Monday after it recently announced that it will distribute over $60 million in tokens to its early adopters, as well as launch staking capabilities.

Written by Jordan Bevan

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