Subscribe to Updates

    Get the latest creative news from FooBar about art, design and business.

    What's Hot

    Impact of “infrastructure status” for the DC industry announced in the Union Budget 2022

    February 4, 2022

    Milestone Systems appoints new Chief Revenue Officer

    January 26, 2022

    IIM Udaipur Incubated tech startup FasterrWeb obtains funding

    January 25, 2022
    Facebook Twitter Instagram
    • Demos
    • Buy Now
    Facebook Twitter Instagram
    My BlogMy Blog
    Subscribe
    • Home
    • Features
      • Typography
      • Contact
      • View All On Demos
    • Typography
    • Buy Now
    My BlogMy Blog
    Home»Internet»Cryptocurrency»Axie Infinity to Raise $150M Series B at $3B Valuation: Report
    Cryptocurrency

    Axie Infinity to Raise $150M Series B at $3B Valuation: Report

    adminBy adminOctober 5, 2021No Comments2 Mins Read
    Facebook Twitter Pinterest LinkedIn Tumblr Email
    Axie Infinity to Raise $150M Series B at $3B Valuation: Report
    Share
    Facebook Twitter LinkedIn Pinterest Email

    Blockchain-enabled play-to-earn game Axie Infinity is raising approximately $150 million in a Series B capital round at a $3 billion valuation, according to reporting on Monday by The Information.

    • Citing two unnamed sources “with direct knowledge of the deal,” The Information wrote that venture giant Andreessen Horowitz is leading the round.
    • The monster-battling game, which uses non-fungible tokens (NFTs) to reward players, made 64,933.71 ether (ETH), which was worth $220.32 million, in September. That was down from a record $342 million in August, data center Axie World shows.
    • But September’s figure still represents a nearly 3,000-fold year-over-year growth.
    • Axie Infinity’s most recent fundraising round was a $7.5 million series A announced on May 11, 2021, according to Crunchbase. The round’s lead investor was Libertus Capital, and other investors included Reddit co-founder Alexis Ohanian, Dallas Mavericks owner Mark Cuban, the Collaborative Fund and 500 Startups Vietnam.
    • Prior to that, Axie Infinity had raised a $1.5 million seed round led by mobile game publisher Animoca Brands that was announced on Nov. 7, 2019.
    • Launched by Sky Mavis in 2018, Axie Infinity came into the spotlight in the early third quarter of this year as yield compression in bitcoin and DeFi drove hot money into gaming and NFTs.
    • The game has become a significant source of income in countries like Brazil, the Philippines, Venezuela and Vietnam. It’s become so popular in the Philippines that the government has expressed its intention to tax Axie players.
    • Axie Infinity’s AXS token hit a record high on Monday after it recently announced that it would distribute over $60 million worth of tokens to its early adopters, as well as launch staking capabilities.

    UPDATE (Oct. 4, 21:56 UTC): Updated with additional background in sixth, seventh and eighth bullet points.

    UPDATE (Oct. 4, 22:12 UTC): Updated with information about Axie’s previous fundraising in fourth and fifth bullet points.



    Source Link

    150M Axie Infinity Raise Report series valuation
    Share. Facebook Twitter Pinterest LinkedIn Tumblr Email
    admin
    • Website

    Related Posts

    Mphasis and CrossTower partner to develop a ‘Center of Excellence’ in Web 3.0 and Blockchain technologies

    January 21, 2022

    FTFT Subsidiary Launches Cryptocurrency Market Data Platform

    January 4, 2022

    Featuring Mr. Vladislav Sapozhnikov – Managing Partner Of Genesis Block At GITEX GLOBAL 2021

    November 13, 2021
    Add A Comment

    Leave A Reply Cancel Reply

    Editors Picks

    Onboard Cameras Allow Disabled Quadcopters to Fly

    January 5, 2021
    Top Reviews
    Advertisement
    Demo
    My Blog
    Facebook Twitter Instagram Pinterest Vimeo YouTube
    • Home
    • Buy Now
    © 2023 ThemeSphere. Designed by ThemeSphere.

    Type above and press Enter to search. Press Esc to cancel.