return icon Vietnamnet.vn

Vietnamese creator of Axie Infinity raises US$152 million in funding

Vietnamese game producer Sky Mavis, the creator of the blockchain-based game Axie Infinity, has successfully raised US$152 million as part of its Series B funding round, according to Blockworks.

{keywords}
The core team of Sky Mavis.

Although Sky Mavis is legally based in Singapore, the majority of its core team is made up of Vietnamese workers, including Trung Nguyen, Tu Doan, and Viet Anh Ho.

The website also quoted a recent report published in The Information as saying that the latest round of funding serves to bring Axie’s parent company to a total valuation of almost US$3 billion.

Led by Andreessen Horowitz, the additional capital will be used towards staff expansion, scaling infrastructure, and to build its own distribution platform.

Other participants in the round include Accel and Paradigm, according to Axie’s Substack. 

Blockworks has revealed that as a play-to-earn (P2E) game, Axie Infinity players will be able to earn crypto rewards that can later be sold and traded on secondary marketplaces. Originally founded back in 2018, Axie users can trade, breed, and battle non-fungible token (NFT) characters in the digital world.

As of Q3, Axie Infinity has surpassed 1.5 million active users, generating over US$776 million in revenue in the process.

According to a recent Dapp Industry Report, the game “became the most traded NFT collection ever”, exceeding US$2 billion in trading volume in September.

Source: VOV/Blockworks

Game industry in Vietnam sees promising future

Game industry in Vietnam sees promising future

Vietnamese startups in the digital content industry, especially the game industry, are witnessing impressive revenue increases despite the appearance of the Covid-19 pandemic. 

MORE NEWS

VIETNAM BUSINESS NEWS AUGUST 15

Phu Quoc welcomes increasing investment in urban development

Journalists live streaming court proceedings to be fined nearly US$1,500

Journalists may face a fine from VND7 million ($320) to VND30 million (over $1,400) if they record audio, video with audio of a court hearing and broadcast it live on cyberspace.

Man arrested for attempted murder of three-year-old boy, hiding him in freezer

Police in Ha Nam Province have arrested a 25-year-old man, for the attempted murder of a three-year-old boy after beating him unconscious and hiding him in a freezer.

Da Lat to build dossier for becoming UNESCO creative city of music

Da Lat city in the Central Highlands province of Lam Dong has been given the green light to build a dossier and plan serving the application to be part of UNESCO Creative Cities Network in the field of music.

Vietnam strives to conserve elephants

In Vietnam, elephants are classified as critically endangered in the Vietnam Red Book, and are included in the group with the highest conservation status, whose exploitation for commercial purposes is strictly prohibited. ​

VN photographer wins two prizes at One Eyeland Awards

Tran Viet Van, a journalist at Lao Dong (Labour) newspaper, claimed two prizes in the World’s Top 10 Portrait Photographers 2022 photo contest run by One Eyeland Awards 2022.

VN tennis players qualify for World Group II play-offs in 2023

The Vietnamese tennis team have been promoted to the World Group II play-offs in 2023 after enjoying a resounding 3-0 win over Syria in the 2022 Davis Cup Group III in the Asia/Oceania region.

VIETNAM NEWS HEADLINES AUGUST 15

NA Chairman approves financial support for pandemic-hit laborers

Removing bottlenecks to attract foreign visitors to Vietnam

The local tourism industry is currently devising ways to iron out snags in attracting foreign visitors to the country, as the number of foreign arrivals during the first half of the year was far below the set target.

Demand for logistics real estate increases sharply: Savills Vietnam

Vietnam’s logistics industry is developing strongly thanks to the growth of the e-commerce industry, according to Savills Vietnam.

Discover the exquisite rainbow rice noodles of Can Tho

Rainbow rice noodles, also known as five-coloured hủ tiếu, are a fun take on the traditional Vietnamese rice noodles and a must-try for every tourist to Can Tho City in the Mekong Delta.

A unique cave awaits explorers in Quang Binh Province

Va Cave in the core zone of the Phong Nha- Ke Bang National Park in Quang Binh Province, with its unique stalagmites and stalactites, is a natural beauty waiting to be discovered by explorers.

The most important 'economic corridors' for next 10-30 years

The national planning draft for 2021-2030 with a vision towards 2050 focuses on the formulation and development of economic corridors, dynamic zones, large cities and economic zones associated with the national infrastructure framework.

Artisans strive to keep traditional craft alive

Artisan Tran Van Ban is busy all day from early in the morning to the evening. He is carving out beautiful mooncake molds to serve people's demands for the Mid-Autumn Festival which is approaching in the next few weeks.

Goalkeeper Dang Van Lam returns home to join a V.league 1’s club

Goalkeeper Dang Van Lam is set for a return to V.League 1 after touching down in HCM City with his agent.
back_to_top