Sky Mavis Announces $2.4 Million USD Esports Grant for Axie Infinity

Sky Mavis, the company behind the popular blockchain-based game Axie Infinity is leading the charge in the Web3 space. Only a few other companies have managed to experience this level of success in the blockchain gaming segment. The premise of Axie Infinity revolves around fantasy pets called Axies. Through these Axies, players can enjoy immersive and exciting gameplay that consists of battling, breeding, and trading.

Sky Mavis esports grant

Sky Mavis recently announced its esports grant worth $2.4 Million USD. This grant will primarily be used for tournaments and invitationals and will be paid out in its native $AXS token.

Method MetaGuild, a joint venture between British esports organization Method and metaverse company Everyrealm, is said to be the first recipient of this grant. Method MetaGuild reportedly plans to host multiple online and LAN tournaments with a total prize pool of $160K USD.

This well-crafted esports grant will be further divided into categories based on the size of events and their prize pool. Event types include minor tournaments, major tournaments, online invitationals, leagues, and local tournaments. The prize pool of major tournaments will range from $200,001 USD to $1 Million USD, while local tournaments will feature a proportionately smaller prize pool ranging from $1K USD to $9,999 USD.

While the introduction of the esports grant was a much-awaited move, it should be noted that Axie Infinity has enabled 94 tournaments to date to help the Axie competitive scene by spanning various skill levels and regions.

Evolution of Axie Infinity

Since its launch in May 2018, Axie Infinity has quickly become the poster child of blockchain-based games. Although several other games like Alien World boast of a higher player base, Axie Infinity continues to remain a fan favorite due to its exciting gameplay and strong community backing.

Over the years, Sky Mavis have continued to work on Axie Infinity and have also launched other games like Axie Infinity: Origin to expand the player base. Unlike its predecessor, Axie Origin was made available on mobile devices to make the game more accessible. Another significant change was the removal of entry fees. In Axie Infinity, users need to get three Axies from the marketplace to start playing the game. This entry barrier was not affordable for everyone and ultimately resulted in less reach. Axie Origin which was aimed at making blockchain games available for the masses quickly gained traction. It now functions as an independent title.

With both Axie titles performing well, Sky Mavis has now started to take on additional responsibilities, one of which is the introduction of an esports grant.