Art from the Axie Infinity NFT game. Photo: Axie Infinity.

NFT Game Axie Infinity Targets $1 Billion in Revenue, Launch of Crypto Exchange

By  |  Sept. 22, 2021 4:51 PM PDT
Photo: Art from the Axie Infinity NFT game. Photo: Axie Infinity.

Online video game Axie Infinity has emerged as the most successful of video games built on blockchain technology, which underpins how players make money in the game. It has generated $700 million in revenue so far this year and will likely hit $1 billion by year-end, said Jeff Zirlin, co-founder of Sky Mavis, the game’s developer.

Now the company is looking to expand the game’s offerings to include financial services like a decentralized crypto exchange, a debit card and crypto lending and borrowing, said Zirlin, head of growth for Sky Mavis, in an interview with The Information. 

“Games are much more inherently viral than something like a finance app, which is what the rest of the blockchain is about,” Zirlin said. 

Get access to exclusive coverage
Read deeply reported stories from the largest newsroom in tech.
Latest Articles
 
Deals startups
Breaking Up SVB Is Hard to Do
A Silicon Valley Bank branch in Santa Monica, Calif. Photo by Getty.
With bids for the entity formerly known as Silicon Valley Bank due Friday, potential buyers and regulators are running into an interesting reality: Breaking up—and salvaging—SVB is hard to do. Nearly two weeks after SVB failed, the Federal Deposit Insurance Corp. has yet to find a buyer for the so-called bridge bank that took over SVB’s operations, despite being on the third...
Latest Briefs
 
Slack’s Sales Chief Departing Salesforce Next Month
Apple to Spend $1 Billion Per Year on Movies to Release in Theaters
TikTok CEO Stresses App’s Separation from China
Stay in the know
Receive a summary of the day's top tech news—distilled into one email.
Access on the go
View stories on our mobile app and tune into our weekly podcast.
Join live video Q&A’s
Deep-dive into topics like startups and autonomous vehicles with our top reporters and other executives.
Enjoy a clutter-free experience
Read without any banner ads.
Sarah Nagy gives a demo of her startup, Seek.ai, at an AI event at the San Francisco Wine Society in January. Photography by Laura Morton
First Look startups ai
Boom Times in San Francisco’s AI Underground
Not even a banking crisis could chill the fever sweeping San Francisco. Last Wednesday, as the tech industry recoiled from the collapse of Silicon Valley Bank, a party was scheduled at the offices of Maverick Ventures in an old army hospital in the Presidio.
Cover art and portraits by Clark Miller
The Big Read
The Instant Oral History of the Silicon Valley Bank Collapse
On a cosmic level, the collapse of Silicon Valley Bank was a mere blip. The murmurs about trouble began last Wednesday, the panic spread via group texts and Twitter threads on Thursday, the bank went under on Friday, the government got its act together on Saturday, and on Sunday every current and former customer of SVB could breathe a cautious sigh of relief.
Clockwise from top left: Julie Bornstein, Esther Crawford, Mark Hammond, Max Cutler, Kağan Sümer. Photos via Julie Bernstein, Robert Cowherd, Microsoft, Wikimedia and Kağan Sümer.
Free Agents startups
On the Market: The Founders Who Joined Microsoft, Spotify, Coinbase and Twitter
Call them acqui-fires. Several founders who took positions at the bigger tech companies that bought their startups recently lost their jobs when layoffs rolled through Silicon Valley.
Art by Clark Miller.
Opinion startups economy
SVB Is Dead. Long Live SVB.
We all know how it began. It started on March 9, when the run on Silicon Valley Bank made the innovation economy totter and threatened a global financial crisis.
Tonal’s now-shuttered Palo Alto, Calif. retail store. Photo by Getty.
Exclusive startups
Tonal’s Valuation May Fall 90% in ‘Cram-Down’ Financing
Tonal, a fitness startup with a cadre of celebrity backers, is crunched for cash after failing to find a buyer.
SpaceX CEO Elon Musk last August. Photo by Bloomberg
Exclusive startups electric vehicles
SpaceX Plans New Funding With Backing From Saudi, UAE Investors
A subsidiary of Saudi Arabia’s investment fund and an Abu Dhabi investment firm are planning to invest in a multibillion-dollar funding round for SpaceX, Elon Musk’s rocket company, according to people familiar with the investor discussions.