The developer of Axie Infinity, Sky Mavis, only received $11 million in a previous $150 million funding round, with the company's valuation dropping to $1.95 billion

ChainCatcher news, according to TechinAsia, Axie Infinity developer Sky Mavis only received $11 million of the $150 million funding announced in April 2022. This round of financing was led by a16z and Animoca Brands, which reduced Sky Mavis's valuation from $3 billion to $1.95 billion.

Previously, a week before announcing the $150 million funding, the Ronin network suffered a security breach, with a total of $620 million in tokens stolen. Sky Mavis stated that it could compensate all users affected by the Ronin Network security breach using its own funds.