This is an amazingly inspirational story that feels good. It’s one of the rare stories that has shown a glimmer of hope in these really difficult times of the pandemic. It makes us feel really happy that we’re able to help people, but at the same time, it’s this huge responsibility that we take really seriously.”
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That proved out the play-to-earn model (which I call the Leisure Economy) at a time when the pandemic had eliminated a lot of jobs.
Axie Infinity’s primary function is as a game, not an NFT collection. Despite that, Axies manage to beat big names in the NFT collectibles space like CryptoPunks, Art Blocks, and NBA Top Shot, DappRadar said.
Axie Infinity’s collection generated more than $765 million in sales, representing about 83% of the total volume of game NFT sales in August. Interestingly, activity for Axie Infinity continues to grow, despite the rising prices for in-game NFTs.
While in May, DappRadar reported that the average transaction within the Axie Infinity NFT collection was $226, this value has almost doubled now.
Andressen Horowitz, one of the most active game VC investors with 32 deals in the first nine months of the year, led the round. Other participating investors included Accel and Paradigm.
Other investors include Libertus and Dallas Mavericks owner Mark Cuban.
The company has 60 employees (mostly in Ho Chi Minh City in Vietnam) now and it will use the money to build out a global team, evaluate future projects, scale its infrastructure, build its own distribution platform to support game developers making blockchain-enabled games.
“Sky Mavis’ marquee game, Axie Infinity, has introduced a new way for anyone to turn their time into money through play-to-earn, a new mechanic that allows gamers to transform their skills and time into earnings and distribution rights for tokenized in-game items,” said Arianna Simpson, general partner at Andreessen Horowitz, in a statement.
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The team is leveraging the disruptive force of gaming within the Web3 space, which it says is “driving innovation across the entire consumer ecosystem, pioneering best-in-class mechanisms for user engagement, retention, and monetization, such as microtransactions, battle passes, and web3 tokens.”
The fund will be composed of some top leaders and visionaries from the gaming industry including: “David Baszucki, founder of Roblox; Jason Citron, founder of Discord; Marc Merrill, co-founder of Riot Games; Mike Morhaime, co-founder of Blizzard; Aleks Larsen and Jeffrey Zirlin, cofounders of Sky Mavis; Kevin Lin, co-founder of Twitch, Mark Pincus, founder of Zynga; and Riccardo Zacconi, founder of King,” a16z wrote.
The fund signals a major step in a16z’s foray into the gaing industry after leading several funding rounds for top Web3 gaming and metaverse projects.
ReKTGlobal, the digital entertainment and esports organization, has been named one of the official presenters of gaming content at the 2021 Infinity Festival.
On 3 November, superstar gaming creators Ally Battaggia (a.k.aTheGeekEntry) andGabby Murraywill join Stove’s Kitchen and Paul Shaw in a panel exploring the content creator economy. In addition, ReKTGlobal CCO Kevin Knocke will share his unique expertise in a panel on esports.
Battaggia, who has a growing following across social media, took on streaming during lockdown, joining the fan-favoriteNoPIxel GTA RPserver.
Since then, she’s become a mainstay participant, even crafting a NFT/TCG collection from her beloved GTA RP character.
These games won’t look like the games of the past and will require an entirely new perspective and skillset to build, they believed.
They also believed property rights incentivized players to act more like founders and employees rather than users. These rights include being able to sell your game assets to anyone in the world, earning liquid tokens for playing/contributing, and being able to own a piece of the game you’re playing.
If you spend money in a game like Axie Infinity, it was more like making an investment, as you might make money on that investment later on by selling what you bought.
They also believe that play-to-earn unlocks new types of work around digital metaverse economies, just as Uber, Airbnb, and DoorDash created new types of jobs and professions.
According to Newzoo’s Global Game Market Report, an estimated 2 billion mobile gamers with revenue estimated at $ 100 billion by 2020. With the emergence of a new technology like blockchain, the gaming industry will new trends appear.
And According to Ceo of Sky Marvis – Mr.
Trung Nguyen’s research , in the past, when any new technology appeared, people would often approach through the game to be able to understand faster. Technology companies like Microsoft or Facebook also have games on their products.
It is both a way to attract users through entertainment, and for people to explore and learn more. Axie Infinity’s virtual pet ecosystem is where players can freely collect, trade or bring cute animals called Axie to fight.
Published on: 07/04/2022Sky Mavis raises $150M to reimburse NFT game Axie Infinity hacker attack victim
Axie Infinity developer Sky Mavis announced that they raised $150 million to enhance security measures and reimburse their players who fell victim to a hacker attack in late March, which resulted in a $625 million loss. It was reported that the earn-to-play game experienced a mass abandonment after the attack after players found themselves unable to access gaming proceeds.
The funding was led by the world’s largest cryptocurrency exchange, Binance, whose trading platforms are used for digital token trading activities by Axie Infinity.
Zirlin said. While Yield Guild Games drew a lot of attention by creating a guild of players — many of them in the Philippines — who play the game for a living in what is known as “play-to-earn,” now hundreds of such guilds have popped up.
Zirlin noted the company has already created Ronin blockchain protocol, which enables the company to bypass the slow parts of the Ethereum blockchain platform and use its own sidechain to speed up transactions, get rid of the expensive “gas” fees (associated with environment and computing costs for blockchain transactions), and use Sky Mavis’ own security.
The Ronin blockchain
Above: Axie Infinity lets you convert game rewards to real money.
The Ronin blockchain protocol is a “sidechain” that does what I described above, but the company could also use it to easily host games created by other developers.