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Axie Infinity is a blockchain game developed by Vietnamese studio Sky Mavis, [1] known for its in-game economy [2] which uses Ethereum-based cryptocurrencies. [3] It has been called 'a pyramid scheme that relies on cheap labor from countries like the Philippines to fuel its growth.' [4]
Axie Infinity, released in 2018 by Sky Mavis, is an example of a "play-to-earn" game, where the game incentivizes players to purchase and then improve NFTs through in-game activities which are then resold to other players by the publisher, with the player receiving compensation for their work. In the Philippines, where the game was most popular ...
In 2021, Shen became the advisor and mentor of the Vietnamese studio Sky Mavis for Axie Infinity, a Pokémon-inspired non-fungible token-based online video game where anyone can earn tokens through skilled gameplay and contributions to the ecosystem. [9] The early unique aspect of Axie Infinity is the space that created called "Play to Earn".
Sky Mavis, the developer of play-to-earn game Axie-Infinity, will reimburse victims of the $620 million Ronin bridge hack.
On 8 April 2022, Sky Mavis said it expected it would be able to recover some of the funds, but it would take several years. [220] The company raised additional venture capital and reimbursed all users affected in the hack. [ 221 ]
AXIE Infinity was a 2018 NFT-based video game by Sky Mavis (co-created by Nguyễn Thành Trung), which had started to become immensely popular by 2021. [ 7 ] Socio-economic context
In October 2021, the firm led the round to Raise $150M Series B at $3B Valuation in Vietnamese studio Sky Mavis, the developer of crypto-based online game Axie Infinity. [ 78 ] [ 79 ] In December 2021, crowdfunding platform Kickstarter received a $100 million investment from the firm's crypto fund with the expectation that it would pivot to ...
Animoca Brands Corporation Ltd. is a Hong Kong–based game software company and venture capital company co-founded in 2014 by Yat Siu and David Kim. The company initially focused on developing mobile games, then shifted to blockchain gaming and NFTs in 2018.