Sky Mavis company
Overview
Sky Mavis is a Vietnamese game studio, founded around 2017, best known for creating Axie Infinity, the NFT creature-battling game that popularised 'play-to-earn' gaming. Its co-founders include CEO Nguyen Thanh Trung, Tu Doan, Aleksander Larsen, Jeffrey Zirlin and Andy Ho, and Axie Infinity was released in March 2018. To escape Ethereum gas costs the studio built Ronin, an Ethereum-linked sidechain purpose-built for its games, which also hosts a bridge to Ethereum. After earning about $21 million in its first two to three years, Sky Mavis raised $485 million between July and August 2021, including a $150 million Series B led by Andreessen Horowitz in October 2021 that valued the company at $3 billion. On 23 March 2022 the Ronin bridge was compromised for roughly $620 million in ETH and USDC, an attack the FBI attributed to North Korea's Lazarus Group and APT38 — one of the largest crypto thefts ever. Axie's economy contracted sharply afterwards: average daily players fell from a 2.7 million peak to roughly 250,000 by April 2023, the AXS token lost about 99% of its value from its February 2022 peak, and Sky Mavis removed 'play-to-earn' language from its marketing. Founded in Vietnam in 2017; Axie Infinity launched March 2018; Ronin sidechain built to scale the game; $485m raised in mid-2021 including a $150m a16z-led Series B at a $3bn valuation; Ronin bridge hacked for ~$620m on 23 March 2022, attributed by the FBI to Lazarus Group/APT38; user numbers and token value collapsed through 2022-2023 and the studio repositioned away from play-to-earn.
Within the DeFi Intel graph, Sky Mavis connects to 7 tracked entities, most strongly to Ronin, Axie Infinity, Katana DEX.
Relations
Top connections in the DeFi Intel knowledge graph (confidence-weighted, 7 of 7 total).
| Relation | Connected entity | Confidence |
|---|---|---|
launched | Ronin | 95% |
launched | Axie Infinity | 95% |
launched | Katana DEX | 95% |
supports_token | Axie Infinity Shards | 90% |
deployed_on | Ronin | 86% |
invested_in | Hashed | 70% |
invested_in | Animoca Brands | 70% |
Frequently asked questions
What is Sky Mavis?
Sky Mavis is a gaming tracked in the DeFi Intel knowledge graph. It is connected to 7 other tracked entities, most strongly to Ronin, Axie Infinity, Katana DEX.
What type of entity is Sky Mavis?
Sky Mavis is classified as a gaming (company) in the DeFi Intel knowledge graph.
What is Sky Mavis connected to?
In the DeFi Intel knowledge graph, Sky Mavis is linked to 7 other tracked entities, most strongly to Ronin, Axie Infinity, Katana DEX.
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