Free tools Windows power users keep installed
One-click scans. No signup required.
Sky Mavis announced a $152 million Series B on October 5, 2021, to support Axie Infinity, its Ronin blockchain network, and plans to expand infrastructure and NFT-game distribution. Investor Konvoy later described the round as being completed at a $3 billion pre-money valuation; that figure was not included in Sky Mavis’s announcement.
What Sky Mavis announced
The company behind Axie Infinity and Ronin said it had raised $152 million in a Series B. The round was led by Andreessen Horowitz (a16z), with Accel and Paradigm among the participating investors, according to contemporaneous coverage and Konvoy, another investor in the round. The Block’s October 5, 2021 report covered the announcement; Konvoy’s October 8 account described its participation.
What the nearly $3 billion valuation means
Konvoy described the financing as a $152 million Series B at a $3 billion pre-money valuation. Pre-money valuation is the company’s stated value immediately before the new investment is added; it is distinct from the round’s $152 million size. The $3 billion figure should therefore be attributed to Konvoy, rather than presented as a valuation disclosed in Sky Mavis’s announcement.
How Sky Mavis planned to use the funding
Sky Mavis said the capital would help grow Axie Infinity and Ronin, scale infrastructure, expand the team, and build a distribution platform for NFT-enabled games. Konvoy also characterized the investment as backing the company’s efforts to develop its games and infrastructure and broaden its ecosystem.
#1 Best Overall
- Get this Axie Infinity logo. If you love the Axie Infinity token or AXS token then get this AXS shirt to show your support of the cryptocurrency AXS. It's the Best altcoin, so get this AXS Logo. AXS crypto to the Moon.
- This crypto shirt has the AXS logo on it This AXS shirt supports Axie Infinity. Let's get AXS to the Moon! This Axie Infinity shirt is also great for men women kids.
- Lightweight, Classic fit, Double-needle sleeve and bottom hem
At the time, Axie Infinity was built around digital creatures called Axies, represented as NFTs. Players could breed, battle, and trade them. Ronin was Sky Mavis’s blockchain network for the game and its related activity. In an interview with The Block, CEO Trung Nguyen described the company’s goal as giving players ownership of in-game assets, in contrast to a conventional model in which publishers and platforms retain more control.
What the company said about Axie and Ronin’s scale
In its October 2021 announcement, Sky Mavis reported more than 2 million daily active players, $2.2 billion in marketplace volume, over 2 million Ronin wallets, and $4.5 billion in Ronin total value locked. These are company-reported figures from that period, not current measurements. The company also said daily active players had grown from 38,000 in April 2021 to more than 2 million by the time of its announcement. Sky Mavis’s Series B announcement contains those figures.
A separate August 2021 figure should not be conflated with the company’s October metrics: The Block reported more than 1.8 million daily active users for August. The dates and wording differ, so the figures describe different snapshots rather than a single directly comparable count.
The roadmap attached to the investment
Sky Mavis’s announcement pointed to several projects then in development or on its roadmap:
Do these 3 things before closing this tab:
1Repair Windows errors before they cause bigger problems2Fix the driver behind crashes, sound loss and screen glitches3Clear out junk files and repair common Windows errors- Axie: Origin: a planned iteration of the Axie Infinity game.
- Ronin DEX: a decentralized exchange planned for the Ronin ecosystem.
- Project K: a planned game project in the Axie universe.
- Outside developer experiences: a distribution platform intended to help NFT-enabled games reach players.
These were plans described around the financing announcement; the list alone does not establish that each item later shipped as described. Sky Mavis’s announcement outlined the roadmap, while The Block’s coverage provides contemporaneous context on the round.
Independent reader supportYour contribution helps us test, update, and keep practical guides available for everyone.What the funding story does—and does not—establish
The Series B was a major financing event for Sky Mavis as Axie Infinity grew and the company invested in Ronin and a broader NFT-game ecosystem. It does not, by itself, establish the game’s current player count, the present value of its assets, or the current state of Ronin. Those are separate, time-sensitive questions and should not be inferred from 2021 funding and adoption figures.
Quick Recap
Product prices and availability are accurate as of the date/time indicated and are subject to change. Any price and availability information displayed on Amazon at the time of purchase will apply.
