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Axie Infinity secured a $152 million Series B led by Andreessen Horowitz, pushing its valuation to $3 billion and underscoring rapid growth in its play‑to‑earn
Axie Infinity closed a $152 million Series B round, lifting its post‑money valuation to $3 billion and confirming the game’s rapid expansion as a leading play‑to‑earn platform【3】.
| At a glance | |
|---|---|
| Funding round | $152 million Series B |
| Valuation | $3 billion |
| Users (Aug 2021) | 1.8 million logged‑in |
| Trading volume | $2.4 billion total |
The new round, led by Andreessen Horowitz, follows a $7.5 million Series A raised five months earlier, showing strong investor confidence in the Web3 gaming model【3】. Sky Mavis, the Vietnam‑based studio behind Axie, now commands a $3 billion valuation, positioning it among the most valuable crypto‑gaming firms. The capital infusion is expected to fund further development of the Axie ecosystem, including side‑chain enhancements that reduce transaction costs compared with Ethereum’s mainnet【3】.
Axie’s user base grew to 1.8 million active accounts in August 2021, with a concentration in the Philippines where roughly 40 percent of players reside【3】. The platform’s “play‑and‑earn” model has generated over $2.4 billion in total trading volume, driven by the buying, selling, and breeding of NFT Axies and the in‑game token Smooth Love Potion (SLP)【3】. Notably, 25 percent of players had never held a bank account before joining, highlighting the project’s role in providing financial services to underserved populations【3】.
| Tokenomics snapshot |
|---|
| Total SLP trading volume |
| Players without prior bank accounts |
The fresh capital and soaring valuation underscore how Axie Infinity is redefining the intersection of gaming and decentralized finance, but its long‑term sustainability will hinge on balancing token economics, regulatory environments, and ongoing user growth.
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AI-assisted synthesis by the TrendWatcher Editorial Desk · sourced from 3 outlets · Jun 23, 2026 · How we report
The game uses Axie Infinity Shards (AXS) as its primary token and Smooth Love Potion (SLP) as a secondary token.
The hack in March 2022 resulted in the loss of roughly $620 million in Ether and USDC, marking the largest cryptocurrency breach by dollar value and further depressing the value of SLP.
By mid‑2021, many players in the Philippines were treating the game as a main source of income, though earnings later fell below the national minimum wage and the income was deemed taxable.