Axie Infinity
Axie Infinity has generated billions in sales and resales.
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Sky Mavis raises $7.5 million for NFT-based Axie Infinity game with backers like Mark Cuban

Sky Mavis has raised $7.5 million for its Axie Infinity game, which uses nonfungible tokens (NFTs) to reward players financially the more they play. Backers include billionaire investor and Dallas Mavericks owner Mark Cuban.

The Vietnamese studio set out from the outset to take part in the mass migration toward NFT games. NFTs have exploded in other applications such as art, sports collectibles, and music. NBA Top Shot (a digital take on collectible basketball cards) is one example. Built by Dapper Labs, NBA Top Shot has surpassed $500 million in sales, five months after going public. And an NFT digital collage by the artist Beeple sold at Christie’s for $69.3 million. Investors are pouring money into NFTs, and some of those investors are game fans.

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Written by

Dean Takahashi

Dean Takahashi is editorial director for GamesBeat. He has been a tech journalist since 1988, and he has covered games as a beat since 1996. He was lead writer for GamesBeat at VentureBeat from 2008 to April 2025. Prior to that, he wrote for the San Jose Mercury News, the Red Herring, the Wall Street Journal, the Los Angeles Times, and the Dallas Times-Herald. He is the author of two books, "Opening the Xbox" and "The Xbox 360 Uncloaked." He organizes the annual GamesBeat Next, GamesBeat Summit and GamesBeat Insider Series: Hollywood and Games conferences and is a frequent speaker at gaming and tech events. He lives in the San Francisco Bay Area.