Vietnamese game’s market capitalisation reaches 2.5 billion USD hinh anh 1

An image in the game (Photo: vneconomy.vn)

The market capitalisation of Axie Infinity, a blockchain-based trading and battling online video game developed by a Vietnamese studio, currently stands at 2.5 billion USD with about 61 million AXS traded.

Each AXS, which is the token in the game, values at 41.51 USD, with trading volume in the last 24 hours hitting 2.9 billion USD, according to Coinmarketcap.

Axie Infinity allows players to collect, breed, raise, battle, and trade creatures known as "axies", which are digitised as non-fungible tokens (NFTs).

The game has become a global phenomenon which is attracting hundreds of thousands of players.

 

It is currently the blockchain-based online game with the highest revenues in the world. Axie Infinity had earned 386 million USD as of the start of July and 90 million USD in the most recent 90 days, data from Token Terminal showed.

The game is developed by studio Sky Mavis, which was founded in 2018 by three Vietnamese and two foreigners.

The start-up studio successfully raised 7.5 million USD in Series A financing from US billionaire Mark Cuban and other investors last May.

It is also the only startup in Southeast Asia to receive support from one of the world’s largest video game company Ubisoft, in its fifth season for its Entrepreneur Lab with eight international startups that are focused on social entertainment.

Its CEO Nguyen Thanh Trung was co-founder and CEO at Lozi, a review app allowing users to find food, beverage, and coffee shops./.

Source: VNA