Blockchain-enabled play-to-earn sport Axie Infinity is elevating roughly $150 million in a Collection B capital spherical at a $3 billion valuation, in keeping with reporting on Monday by The Info.
- Citing two unnamed sources “with direct data of the deal,” The Info wrote that enterprise large 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), which was price $220.32 million, in September. That was down from a report $342 million in August, information middle Axie World exhibits.
- However September’s determine nonetheless represents a virtually 3,000-fold year-over-year development.
- Launched by Sky Mavis in 2018, Axie Infinity got here into the highlight within the early third quarter of this 12 months as yield compression in bitcoin and DeFi drove sizzling cash into gaming and NFTs.
- The sport has turn out to be a big supply of revenue in international locations like Brazil, the Philippines, Venezuela and Vietnam. It’s turn out to be so widespread within the Philippines that the federal government has expressed its intention to tax Axie gamers.
- Axie Infinity’s AXS token hit a report excessive on Monday after it just lately announced that it could distribute over $60 million price of tokens to its early adopters, in addition to the launch of staking capabilities.
UPDATE (Oct. 4, 21:56 UTC): Up to date with further background in fourth, fifth and sixth bullet factors.