Axie Infinity

Sky Mavis, founded in 2018 in Ho Chi Minh City, still develops the Axie games and Ronin chain and released Origins Season 19 on 30 September 2026. Decisions were long concentrated in the studio; governance of the Treasury moved to an independent Axie Foundation in 2025.

• Axie Infinity whitepaper: Team
• The Lunacian: Origins S19 is LIVE!
• The Lunacian - The Next Chapter of Axie Governance: The Foundation, The Treasury, and Your Voice

Sky Mavis raised $152 million in an Andreessen Horowitz-led Series B in 2021. The Community Treasury held 23 million AXS plus ETH, RON and USDC in July 2025. Sky Mavis itself was allocated 21% of supply. No exchange-traded product holding AXS was found.

• Decrypt: Axie Infinity creator raises $152 million in Andreessen-led Series B
• The Lunacian - The Next Chapter of Axie Governance: The Foundation, The Treasury, and Your Voice
• Axie Infinity whitepaper: Allocations and unlock schedule

Supply is capped at 270 million AXS, with about 174.8 million circulating in October 2026. About 95% of the staking allocation had been paid by late 2025 and rewards fall 5% every 9 days. Since January 2026 game rewards are paid as non-transferable bAXS, which limits bots moving rewards to exchanges.

• Axie Infinity whitepaper: Allocations and unlock schedule
• CoinGecko API: Axie Infinity
• The Lunacian: AXS Staking Revamp
• DL News: Axie Infinity token jumps 123% as game devs push major rewards change

Axie Infinity was the largest play-to-earn game in 2021, but AXS traded more than 99% below its November 2021 high in October 2026. The 2022 Ronin hack of $625 million hurt trust. Data on current player numbers is insufficient in the facts collected.

• CoinGecko API: Axie Infinity
• CoinDesk: Axie Infinity's Ronin network suffers $625M exploit