Sky Mavis

Founded in 2019 by Trung Nguyen, Aleksander Leonard Larsen and Jeffrey Zirlin, Sky Mavis builds blockchain games and infrastructure for player-owned digital economies. Its flagship Axie Infinity popularized the play-to-earn model, and the company built Ronin, an Ethereum sidechain optimized for gaming. In October 2021 Sky Mavis raised a $152 million Series B led by Andreessen Horowitz at a roughly $3 billion valuation. In March 2022 the Ronin bridge was exploited for over $600 million in one of crypto's largest hacks, which the company later worked to reimburse. In early 2025 Sky Mavis laid off about 21% of its roughly 250-person staff in a strategic refocus on Axie Infinity, the Ronin wallet, and web3 game publishing; the company remains independent and privately held as of mid-2026.