Axie Infinity’s Game Studios Announces $2M Funding in Esports Grant 3
The game studio behind Axle Infinity, Sky Mavis, has recently announced 160,000 AXS ( $2M) funds in Esports Grant 3.
Axie Infinity’s game studio, Sky Mavis, has rolled out its 3rd Esports grants after concluding its first electric World Championships at AxieCon. In previous Axie Esports Grants, the studio has distributed over 13,000 AXS, creating an avenue for early movers to get support for running tournaments. Sky Mavis disclosed that 160,000 AXS would be committed to the trajectory growth of its firm over the next three quarters.
The grant will feature different tiers of support, including majors, minors, online leagues/invitational and regional events. This feature will maximize the allocation of the grant money. The team is working on getting several large tournament organizers on board; if they cannot get enough, the remaining AXS will be rolled over to the following grant.
The Four Grant Tiers
Large events with substantial prizing, robust online qualifiers and a significant physical presence with LAN final will have a prize pool ranging from $150k to $1M. 80% of the grants must be used for the prize pool. Smaller scale events will have less prizing; some online qualifiers and physical LAN finals in a more intimate setting will have a prize pool ranging from $50k to $150k. 80% of the grant will go to the prize pool, while 20% of the grant can be used as expenses.
Online Invitational Leagues will have a prize pool from $10k to $50k. 90% will be used as a prize pool, and 10% can be used to cater for expenses. Finally, local, and regional tournaments will be awarded prizes ranging from $1,000 to $9.999. 90% will be used as the prize pool, and 10% can be used for expenses outside the prize pool.
SkyMavis must approve all submitted sponsors. Tournaments organizers can apply in only 2 events at most. Travel expenses of players that qualify through open qualifiers will not be covered. However, the tournament must be able to ensure all participants receive prizes at the finals.