Animoca is in discussions with the Sky Mavis team about reimbursing players who lost funds

03/31 03:04

According to Bloomberg, a roughly $600 million hack of software underpinning the popular play-to-earn game Axie Infinity is likely to change the attitude and responsibilities of venture capitalists investing in crypto, said Animoca Brands co-founder Yat Siu. Animoca, which has a range of businesses related to non-fungible tokens, is an investor in Sky Mavis, the developer of Axie Infinity. Siu said Animoca is in discussions with the Sky Mavis team about reimbursing players who lost funds, but declined to comment further on how that might be done. Sky Mavis said that the company is “fully committed” to reimbursing players. VC firms investing in crypto will have to be prepared to help portfolio companies in the event of a hack, according to Siu. Closely auditing the code and security protocols before investing will take on greater importance. VCs can work with blockchain-focused security firms to make these assessments, he said.

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