Blockchain-enabled play-to-earn recreation 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 Data.
- Citing two unnamed sources “with direct information of the deal,” The Data wrote that enterprise large Andreessen Horowitz is main the spherical.
- The monster-battling recreation, 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 development.
- 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 major supply of revenue in international locations like Brazil, the Philippines, Venezuela and Vietnam. It’s change into so in style 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 further background in fourth and fifth bullet factors..