Axie Infinity co-founder joins early-stage token fund 1kx as venture partner

advertisement

Jeffrey Zirlin, also known as Jiho, the co-founder of the company that made the popular NFT-based play-to-earn game Axie Infinity, has joined the early-stage token fund 1kx as a venture partner. 

According to a tweet thread from 1kx, Jiho will guide the firm’s investment strategy for emerging play-to-earn media. 

“We regard Jiho to be the best community builder in all of crypto and an incredible force to have on the team,” 1kx wrote on Twitter. “We are incredibly lucky to work with him.”

Jiho’s firm Sky Mavis obtained a $3 billion valuation after the wild success of its game Axie Infinity, which at its peak had over 900,000 users and a 30-day rolling volume of $8.4 million, The Block previously reported.

Axie Infinity still dominates weekly gaming NFT trading volume. The Block’s Data Dashboard shows that the game saw $184 million in volume during the final week of October. 

Following Axie Infinity’s success, half of the $3.4 billion in crypto venture funding in October went to NFT and blockchain gaming startups.

Trending Stories

Get Your Crypto
Daily Brief

Delivered daily, straight to your inbox.

REVOLUTIONARY ONE-CLICK-TO-FARM DEFI PLATFORM, DEFIATO, PAVES THE WAY IN CEDEFI

With more than $100 billion in market cap across all chains, it is likely that the DeFi market cap will grow to $200 billion by 2025. However, many users still face various technical barriers when using decentralised platforms to do on-chain farming, staking and trading, while off-chain solutions face liquidity issues, fiat restrictions and the lack of a central multichain to support crypto assets and institutional-grade custodians. 
Read Full Story
Sponsored Post
More