Founded in 2018, Sky Mavis has skyrocketed to global prominence, becoming Vietnam’s fastest-growing tech unicorn within just three years. The company’s flagship product, Axie Infinity, has revolutionized the gaming industry by integrating blockchain technology and NFTs (Non-Fungible Tokens), allowing players to own, trade, and monetize in-game assets. Unlike traditional games, Axie Infinity introduced the “Play-to-Earn” model, which enables players to generate real income while engaging in gameplay. This innovation transformed gaming from mere entertainment into a decentralized digital economy, drawing millions of users worldwide and positioning Vietnam as a key player in the blockchain gaming revolution.
In addition to Axie Infinity, Sky Mavis has developed a comprehensive blockchain ecosystem. The company created Ronin, a specialized blockchain network optimized for gaming, along with Katana, a decentralized exchange for NFT trading. These innovations not only support Sky Mavis’s gaming products but also provide essential infrastructure for other blockchain developers. With over two million daily active users and billions of dollars in NFT transactions, Sky Mavis has cemented its status as a leader in the blockchain gaming space.
Moreover, Sky Mavis’s growth is underpinned by significant financial investments and strategic partnerships. On the funding front, the company has raised over $311 million. For example, in October 2021, Sky Mavis secured $152 million in a Series B funding round led by a16z—with participation from Accel and Paradigm—and in April 2022, it raised an additional $150 million in a Series C round led by Binance. These substantial investments underscore the confidence that leading venture capital firms have in Sky Mavis’s vision and execution. Furthermore, strategic alliances with technology leaders such as Google Cloud and Searce have enhanced the company’s infrastructure, while partnerships with prominent gaming studios like ACT Games have enabled the integration of established gaming franchises into its blockchain ecosystem.
Additionally, the leadership team at Sky Mavis, composed of seasoned professionals with extensive experience in blockchain, gaming, and finance, has been pivotal in steering the company through rapid global expansion. Their forward-thinking approach and commitment to innovation continue to drive the evolution of the decentralized digital economy, setting a benchmark for tech startups in Vietnam and beyond.
As NFTs and decentralized finance (DeFi) continue to reshape industries, Sky Mavis is well-positioned to expand its influence and pioneer the next generation of digital economies. The company’s success not only highlights Vietnam’s potential in tech innovation but also paves the way for future Vietnamese startups to compete on the global stage.
