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Axie Developer Raises $150 Million as Gamers Flee After Hacking

  • Binance crypto exchange leads funding round for Sky Mavis
  • Axie Infinity is the leading play-to-earn blockchain game
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Sky Mavis, the developer of the popular play-to-earn Axie Infinity video game that lost about $625 million in a hack last month, raised $150 million to help stem an exodus of players after they were unable to access gaming proceeds. 

The money will be used to partially reimburse participants and enhance security measures. Binance, the world’s largest cryptocurrency exchange and one of the primary trading platforms for the digital tokens used in conjunction with the game, led the funding round, the companies said in a statement Wednesday. Other participating investors include the gaming and blockchain company Animoca Brands, the venture capital firm Andreessen Horowitz, Dialectic and Paradigm.