• Latest
  • Trending
  • All
  • News
Axie Infinity creator secures $150 million in a funding round led by Binance

Axie Infinity creator secures $150 million in a funding round led by Binance

April 7, 2022
A Wild Time Capsule in North Dakota Is This Week’s Most Popular Home

A Wild Time Capsule in North Dakota Is This Week’s Most Popular Home

June 25, 2022
5 Lovely Lake Homes Priced Below a Million Bucks

5 Lovely Lake Homes Priced Below a Million Bucks

June 25, 2022
Clarence Thomas: Court Should Reconsider Gay Marriage, Birth Control Decisions Next After Overturning Roe

Clarence Thomas: Court Should Reconsider Gay Marriage, Birth Control Decisions Next After Overturning Roe

June 25, 2022
Clarence Thomas: Court Should Reconsider Gay Marriage, Birth Control Decisions Next After Overturning Roe

Clarence Thomas: Court Should Reconsider Gay Marriage, Birth Control Decisions Next After Overturning Roe

June 25, 2022
Germany’s top energy regulator said the country can last just 2.5 months without Russian gas, and  there will be a ‘difficult’ autumn and winter ahead

Germany’s top energy regulator said the country can last just 2.5 months without Russian gas, and there will be a ‘difficult’ autumn and winter ahead

June 25, 2022
Consumers have never hated the U.S. economy this much—it’s a huge recession warning sign

Consumers have never hated the U.S. economy this much—it’s a huge recession warning sign

June 25, 2022
It seems NFT-themed Bored & Hungry restaurant no longer accepts crypto

It seems NFT-themed Bored & Hungry restaurant no longer accepts crypto

June 24, 2022
Celsius Network hires advisers ahead of potential bankruptcy: Report

Celsius Network hires advisers ahead of potential bankruptcy: Report

June 24, 2022
Could Crypto Regulation Actually Shift from the SEC to CFTC?

Could Crypto Regulation Actually Shift from the SEC to CFTC?

June 24, 2022
PancakeSwap: Your Recipe to a Sweet Life of CAKE Farming 

PancakeSwap: Your Recipe to a Sweet Life of CAKE Farming 

June 24, 2022
EUR/GBP: Renewed Brexit fears may start to weigh on sterling – Danske Bank

EUR/GBP: Renewed Brexit fears may start to weigh on sterling – Danske Bank

June 24, 2022
EUR/USD could still dip back to the recent low of 1.0350 – Rabobank

EUR/USD could still dip back to the recent low of 1.0350 – Rabobank

June 24, 2022
  • About
  • Advertise
  • Privacy & Policy
  • Contact
Saturday, June 25, 2022
  • Login
WallStreetReview
  • Home
  • News
No Result
View All Result
WallStreetReview
No Result
View All Result
Home News

Axie Infinity creator secures $150 million in a funding round led by Binance

by Editor
April 7, 2022
in News
0
Axie Infinity creator secures $150 million in a funding round led by Binance
491
SHARES
1.4k
VIEWS
Share on FacebookShare on Twitter

The funds will be used to refund Axie Infinity users who lost their assets after a hacker exploited Sky Mavis’ Ronin validator nodes and Axie DAO in March.

Sky Mavis, the developer firm behind the Axie Infinity game, has announced a $150 million funding round led by leading crypto exchange Binance.

The funding round also attracted other major investors from across the crypto space, including venture capitals a16z and Dialectic, crypto-focused investment firm Paradigm, and game software firm Animoca Brands.

According to Sky Mavis, the funds will be combined with those on the company’s balance sheet and be put into the reimbursement plan for Axie Infinity players affected by the recent $625 million hack.

Following the attack, the company has undertaken to bolster network security, including via internal audits. Reimbursing players was also one of the first commitments the developer pledged.

“Sky Mavis is committed to reimbursing all of our users’ lost funds and implementing rigorous internal security measures to prevent future attacks,” the firm’s CEO Trung Nguyen said.

He also touched on Sky Mavis’ plans.

“As a team, we have made an intentional decision to focus on what lies ahead, starting with tomorrow’s launch of Axie Infinity: Origin. We are also thrilled to collaborate with Binance NFT on future projects.”

The company hopes to reopen the Ronin Network bridge, which the hacker exploited to steal 173,600 Ethereum (ETH) and $25.5 million in USDC, once the security audits are over.

As a way toward making the network even more robust going forward, Ronin’s validator group will increase from five to 21. The process will be complete in the next three months and with validators set to be split between the firm’s partners and community members.

Despite the historic hack, the Axie Infinity game remains the most popular and most-played NFT game. More than 2.6 million people own Axie NFTs, while monthly active users currently stand around 2.2 million.

Read More

Share196Tweet123Share49
Editor

Editor

  • Trending
  • Comments
  • Latest
Canada’s OSC Flags Tweets From Coinbase, Kraken CEOs

Canada’s OSC Flags Tweets From Coinbase, Kraken CEOs

February 22, 2022
Trudeau Invokes Rare Emergency Powers To Shut Down ‘Freedom Convoy’ Blockades

Trudeau Invokes Rare Emergency Powers To Shut Down ‘Freedom Convoy’ Blockades

February 15, 2022
S&P 500 confirms correction as stocks stumble on war fears

S&P 500 confirms correction as stocks stumble on war fears

February 23, 2022
Scholz to warn Putin of western resolve on Ukraine

Scholz to warn Putin of western resolve on Ukraine

0
Waning stockpiles drive widespread global commodity crunch

Waning stockpiles drive widespread global commodity crunch

0
FT Global MBA Ranking 2022: US business schools dominate

FT Global MBA Ranking 2022: US business schools dominate

0
A Wild Time Capsule in North Dakota Is This Week’s Most Popular Home

A Wild Time Capsule in North Dakota Is This Week’s Most Popular Home

June 25, 2022
5 Lovely Lake Homes Priced Below a Million Bucks

5 Lovely Lake Homes Priced Below a Million Bucks

June 25, 2022
Clarence Thomas: Court Should Reconsider Gay Marriage, Birth Control Decisions Next After Overturning Roe

Clarence Thomas: Court Should Reconsider Gay Marriage, Birth Control Decisions Next After Overturning Roe

June 25, 2022
WallStreetReview

Copyright © 2022. WallStreetReview.com

Navigate Site

  • About
  • Advertise
  • Privacy & Policy
  • Contact

Follow Us

No Result
View All Result
  • Home
  • News

Copyright © 2022. WallStreetReview.com

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Don't miss the

NEWSLETTER

Exclusive editorial

Breaking News

Quality Company Coverage

Expert Writers

You have successfully subscribed to the newsletter

There was an error while trying to send your request. Please try again.

WallStreetReview will use the information you provide on this form to be in touch with you and to provide updates and marketing.