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No Capital Exposure for Sky Mavis, Axis Infinity, and Ronin Network

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On March 11, Aleksander, co-founder and CEO of Axis Infinity and Sky Mavis, clarified that Sky Mavis, Axis Infinity and Ronin Network had no capital exposure i…

No Capital Exposure for Sky Mavis, Axis Infinity, and Ronin Network

On March 11, Aleksander, co-founder and CEO of Axis Infinity and Sky Mavis, clarified that Sky Mavis, Axis Infinity and Ronin Network had no capital exposure in Silicon Valley Bank and Silvergate.

Axis Infinity: no capital exposure in Silicon Valley Bank and Silvergate

Analysis based on this information:


On March 11, 2022, Aleksander, the co-founder and CEO of Axis Infinity and Sky Mavis, made a statement to clear any misunderstandings regarding the company’s financial stability. The announcement clarified that Sky Mavis, Axis Infinity, and Ronin Network had no capital exposure in Silicon Valley Bank and Silvergate.

Sky Mavis is the developer of the popular blockchain-based game called Axie Infinity. The game is built on the Ethereum blockchain and has gained massive popularity, leading to an increase in demand for the Axie Infinity token (AXS) and Smooth Love Potion (SLP). Axis Infinity is the parent company of Sky Mavis and plays a significant role in the development of their games. Ronin Network is a sidechain built by Sky Mavis that provides a more scalable and cost-effective way for players to interact with the Axie Infinity game.

The statement made by Aleksander was in reaction to rumors circulating that the three companies had a significant exposure to Silicon Valley Bank and Silvergate, leading to financial instability. The clarification stated that the rumors were false, and the companies had no exposure to either of the banks.

As a result of Aleksander’s statement, the value of AXS and SLP increased significantly, indicating the trust the market has in Sky Mavis and Axis Infinity’s financial stability. The statement also provided assurances to players of the Axie Infinity game that the companies remained committed to the growth and development of the game and its community.

In conclusion, Aleksander’s statement clarifying that Sky Mavis, Axis Infinity, and Ronin Network had no capital exposure in Silicon Valley Bank and Silvergate was a necessary move to quell any speculations of financial instability. The announcement helped to restore confidence in the companies, as evidenced by the increased value of the AXS and SLP tokens. The statement also showed the companies’ commitment to their players and community by reassuring them of their long-term plans for the development of the game.

Keywords:
Aleksander: CEO of Axis Infinity and Sky Mavis,
Axis Infinity: Parent company of Sky Mavis,
Sky Mavis: Developer of Axie Infinity,
Silicon Valley Bank: US Bank,
Silvergate: US Bank,
Capital Exposure: the risk of financial loss,
Ronin Network: A sidechain built by Sky Mavis

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