Sky Mavis: Vietnam’s Unicorn that Disrupted Global Gaming Industry
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Sky Mavis, founded in 2019 by a Vietnamese software developer, is the parent of the game titled “Axie Infinity,” one of the highest-grossing blockchain-based games ever released. It took Sky Mavis only three years and eight months to transform from an idea on paper into a unicorn start-up valued at USD 8.5 billion in 2021. Sky Mavis has done an excellent job in positioning their game Axie Infinity as the pioneer, trendsetter, and revolutionary in an unestablished industry and later provided a favorable foundation for many coming applications. The success of Sky Mavis and its product, Axie Infinity, can be attributed to three main factors: product differentiation, customer-centric and community-building initiatives, and crisis management. What is special is that Sky Mavis offered players benefits beyond mere enjoyment by unleashing its potential to generate income and transfer digital assets. Successfully landing as a top player in the blockchain-based gaming market, Sky Mavis is now at the stage of choosing whether to pivot or persevere. By introducing Sky Mavis's story and analyzing its success, this article contributes to helping to understand fast-changing gaming industry and provides guidelines that can benefit game companies.
Abstract
Sky Mavis, founded in 2019 by a Vietnamese software developer, is the parent of the game titled “Axie Infinity,” one of the highest-grossing blockchain-based games ever released. It took Sky Mavis only three years and eight months to transform from an idea on paper into a unicorn start-up valued at USD 8.5 billion in 2021. Sky Mavis has done an excellent job in positioning their game Axie Infinity as the pioneer, trendsetter, and revolutionary in an unestablished industry and later provided a favorable foundation for many coming applications. The success of Sky Mavis and its product, Axie Infinity, can be attributed to three main factors: product differentiation, customer-centric and community-building initiatives, and crisis management. What is special is that Sky Mavis offered players benefits beyond mere enjoyment by unleashing its potential to generate income and transfer digital assets. Successfully landing as a top player in the blockchain-based gaming market, Sky Mavis is now at the stage of choosing whether to pivot or persevere. By introducing Sky Mavis's story and analyzing its success, this article contributes to helping to understand fast-changing gaming industry and provides guidelines that can benefit game companies.
참고문헌 (28)
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- "The three pillars of Blockchain" (2018)[URL]
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- "Tech in Asia - Connecting Asia’s startup ecosystem" (2021)[URL]
- "Axie Infinity Scholarship: What Is An Axie Infinity Scholarship, And How Do You Apply?" (2022)[URL]
- "Khám phá kỳ lân Sky Mavis của Việt Nam: Startup game với đội ngũ vỏn vẹn 40 người có gì mà được định giá tới 3 tỷ USD?" (2021)[URL]
- "What Is Axie Infinity?" (2022)[URL]
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- "How Axie Infinity Grew 700% — 4 Growth Strategies" (2022)[URL]
- "Aleksander Larsen, Stephen McKeon - Sky Mavis: The Builders Colossus" (2021)[URL]
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- "Axie Infinity – Hành trình và Tham vọng blockchain hóa lĩnh vực gaming" (2022)[URL]
- "How a rural Filipino community is earning a living playing an NFT game" (2021)[URL]
- "Sky Mavis raises $152M at nearly $3B valuation for Axie Infinity play-to-earn NFT game | VentureBeat" (2021)[URL]
- "Nonfungible.com: NFT game sales hit $5.17B in 2021" (2022)[URL]
- "Xây dựng hẳn một “nền kinh tế” trong game, Sky Mavis đang đau đầu để duy trì đồng tiền của mình không bị mất giá" (2021)[URL]