Mark Cuban backs Axie Infinity NFT game in funding round

Sky Mavis, the studio behind the NFT game Axie Infinity, raised $7.5 million in a Series A funding round. Investors included billionaire Mark Cuban and Reddit cofounder Alexis Ohanian.

What a journey so far!

We couldn’t have done it without our amazing community. https://t.co/M9Ikhj1ORE

— Sky Mavis (@SkyMavisHQ) May 11, 2021

The round was led by Libertus Capital. It also included Collab + Currency, DeFi Alliance, Animoca Brands, BlockTower Capital, and others.

“In Axie you want to play for hours. Add an economy, and you’ll have something special. I am very glad to become part of this”, — said Mark Cuban.

Sky Mavis will use the funds to integrate the Ronin sidechain for Ethereum, aiming to lower the entry barrier for players.

The studio will also recruit more experienced developers from the traditional gaming world to boost the appeal of Axie Infinity.

The creators of the play-to-earn play-to-earn game say that its daily active user base is 41,000, and the NFT trading volume per month is $15 million.

Earlier, the billionaire invested in NFT marketplace SuperRare and social network Nifty built on non-fungible tokens.

Earlier in February, the billionaire spoke of the enormous potential of NFTs over the next decade.

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