NFT P2E: Axie Infinity Looks to Raise $150 Million in Series B Funding Round Led by a16z

Published by
NFT P2E: Axie Infinity Looks to Raise $150 Million in Series B Funding Round Led by a16z

Axie Infinity ($AXS), a play-to-earn (P2E) NFT game has shot put in popularity amid NFT frenzy, so much so that its token price has surged over 300% in the last month itself. The founders of the NFT game are now looking to raise nearly $150 million in a Series B funding round that could put its overall valuation above $3 billion making it one of the most valuable gaming companies today.

Source: Tradingview

Axie Infinity creator firm Sky Mavis announced earlier today that the firm is looking to raise capital to the tune of $150 million and Wall Street Venture capital firm Andreessen Horowitz (a16z) will lead the funding round. The creator of the blockchain game wants to utilize the new capital to expand the team, scale infrastructure, and build its distribution platform to support game developers.

“We are on a mission to create economic freedom for gamers and are making this happen by turning players into owners of in-game assets unlike the traditional model where publishers, distribution platforms, and game developers retain control and benefit the most,” said Sky Mavis CEO Trung Nguyen.

On the other hand, a16z who have been pretty active with their investment in the crypto world see huge potential in the P2E game and believe Axie could trigger a new era for the gaming industry.

“The game’s growth is a phenomenal testament to how deeply this model is resonating with people around the world,” said Arianna Simpson, general partner at a16z. “The Axie team has triggered an earthquake in gaming and the industry is now forever changed.”

Advertisement

Axie Infinity Outshines Market Leaders

Axie Infinity surged to a new ATH above $150 yesterday on the back of over 150% in weekly gains even when the rest of the crypto market is still recovering from the bearish September. The main catalysts that filed $AXS price are the staking rewards and NFT mania that has engulfed the crypto market this bull season.

$AXS is now in a price discovery mode and as the rest of the market turns bullish with the start of October $AXS can set new ATHs.

Advertisement

Share
Prashant Jha

An engineering graduate, Prashant focuses on UK and Indian markets. As a crypto-journalist, his interests lie in blockchain technology adoption across emerging economies.

Published by
Why trust CoinGape: CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights to our readers. Our journalists and analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over our editorial content.

Recent Posts

  • Bitcoin News

Bitcoin Edges Higher as Fed Chair Jerome Powell Fails to Comment on Monetary Policy

The Bitcoin price is up today, after a significant drop in the last 24 hours.…

October 9, 2025
  • 24/7 Cryptocurrency News

Flare Network Surpasses $43M in Bridged XRP, Expert Predicts Breakout to New ATH

Flare Network has recorded over $43 million worth of XRP now bridged onto its blockchain.…

October 9, 2025
  • Bitcoin News

Bitcoin, Ethereum Drag Broader Crypto Market Lower Ahead of FED Powell Speech

Bitcoin and Ethereum are dragging lower amid massive volatility ahead of Fed Chair Jerome Powell's…

October 9, 2025
  • 24/7 Cryptocurrency News

Breaking: Ripple Partners With Bahrain’s Fintech Bay in Push for RLUSD Adoption

Ripple has announced a new partnership with Bahrain’s Fintech Bay (BFB). This initiative seeks to…

October 9, 2025
  • Altcoin News

XRP News: Why Whales Sold 440M Coins in a Month Despite ETF Launch Buzz

In a major XRP news today, whales are betting against XRP ETF launch anticipation and…

October 9, 2025
  • 24/7 Cryptocurrency News

Just In: DeFi Dev Corp Launches Japan’s First Solana Treasury Company, SOL Price Reacts

DeFi Dev Corp has announced the creation of Japan’s first Solana Treasury firm in partnership…

October 9, 2025