The funds raised will be used to compensate Axie Infinity users who lost their assets during the March hack, when an attacker exploited Ronin validation nodes tied to Sky Mavis and the Axie DAO.
Sky Mavis, the studio behind the Axie Infinity game, announced a $150 million funding round led by major cryptocurrency exchange Binance.
Other prominent investors from across the crypto space also participated in the round, including venture firms a16z and Dialectic, crypto investment firm Paradigm, and game-software company Animoca Brands.
According to Sky Mavis, the newly raised capital will be combined with the company’s existing funds and included in a restitution plan for Axie Infinity players affected by the recent $625 million breach.
Following the attack, the company moved quickly to strengthen network security, conducting an internal audit as part of those efforts. One of Sky Mavis’s top commitments has been to reimburse affected players.
“Sky Mavis will make our users whole and implement strict internal security measures to prevent future attacks,” said CEO Trang Nguyen.
He also outlined the company’s forward-looking plans.
“Our team has made a measured decision to focus on what lies ahead, beginning with tomorrow’s launch of Axie Infinity: Origin. We are also pleased to collaborate with Binance NFT on upcoming projects.”
The company expects to reopen the Ronin bridge—exploited by the hacker to steal 173,600 Ethereum (ETH) and $25.5 million in USDC—once safety checks are complete.
To increase resilience, the number of Ronin validators will rise from five to 21. That transition is expected to finish within the next three months, with validators distributed among company partners and community members.
Despite the high-profile breach, Axie Infinity remains the most-played NFT game. More than 2.6 million people own Axie NFTs, and monthly active users currently number around 2.2 million.