Axie Infinity was developed by Sky Mavis, a technology-focused game studio founded in early 2018. The CEO and Co-Founder of Axie Infinity, Trung Thanh Nguyen, was fascinated by the economy within CryptoKitties. And in 2017, after a few months into playing the game, he invested about 600 USD in playing CryptoKitties. He then realised that he could make his own blockchain-based game. Over the course of several months, with Nguyen’s friends’ help, Axie Infinity began to take shape. The game was founded to make blockchain technology accessible to anyone and give players true ownership of their game assets.
In mid-2018, the beta version of Axie Infinity was released. The game unexpectedly became a hit. Its revenue from pre-orders was enough to give the developers a full year’s worth of cash flow. Following its explosive popularity, the company has signed partnerships with big names like Samsung, HTC, and Klaytn. The company acquired its first institutional investment from blockchain investors and general investors in 2019.
In the past years, after the game’s desktop and mobile version release, Axie Infinity has grown from a gaming concept to a quickly developing ecosystem and movement that delivers entertaining activities for people of various backgrounds and interests. Today, almost 3 million users log onto Axie infinity to play daily, where they purchase land and gear, as well as feed, breed, and send their Axies into battles. It’s now one of the highest-grossing blockchain games globally, and it has collected revenues comparable to those of other DeFi Protocols.