Transcript
Introduction
Patrick
Today, we are breaking down Sky Mavis, the company behind the NFT-based game Axie Infinity. Built by a team with a long history in gaming, Axie Infinity was launched in 2018 with the idea that a blockchain-based play to earn model could create more aligned incentives between game creators and game players long-term. Axie is one of the most incredible examples of speed to scale I've ever seen, with the game reporting $100,000 of revenue in January, over $190 million of revenue in July, and over $360 million of revenue in August.
In this breakdown, we cover the basics of Axie and how gameplay is similar to classics such as Pokemon. We dive into the economic model, how Sky Mavis generates revenue, how players earn money, and how this is all enabled by the blockchain. We discuss the importance of gameplay versus the economic ecosystem and examine the sustainability of Axie from various angles. To help me break down Sky Mavis, I'm joined by Aleksander Larsen, co-founder of Sky Mavis, and Stephen McKeon, partner at Collab+Currency, an early stage investor in Sky Mavis.