Ann: Leads investment into Sky Mavis, maker of Axie Infinity, page-282

Am I correct in saying that Animoca has an allocation of the Private Sale and the Sky Mavis (Core team) allocation?

Axie Infinity raised $864,000 in a private sale of AXS to strategic investors in the middle of 2020. Led by Delphi Digital plus at least another 11 participants. Thus, Animoca's investment was most likely less than $70k.

Animoca's Private allocation = 0.3%

Animoca invested US$420,000 in 2019 and also participated in another raise. Circa 3% ownership of Sky Mavis, which in turn has 21% of tokens. Animoca could own more of Sky Mavis if seed investors collectively got more than 10% of company.

Animoca's Sky Mavis allocation = 0.6%

= 0.9% of Axie fully diluted market cap [potentially as high as 1.5%, but less likely]

The following is sourced from an article:

"The Axie protocol takes a 4.25% commission on each trade on the marketplace and a fee (in the form of AXS and SLP tokens) when new Axies are bred. The roughly 5% that the Axie protocol takes goes into the Community Treasury, which currently stands at 46k ETH or $95 million [will be higher now], and the Treasury is controlled by token holders, including but not limited to the developers, Sky Mavis, who hold about ~20% of the nation’s governance token, AXS.

As more AXS tokens are unlocked over a 65 month schedule, Sky Mavis will slowly lose voting power, until it loses its majority some time in late 2023.

In the whitepaper, the team laid out a few of the types of things that the community should be able to vote on:• Should Axie Infinity Limited continue to pay Sky Mavis to develop Axie Infinity?• Should Axie Infinity use the marketplace created by Sky Mavis?• How should the Community Treasury be used to reward AXS holders and the broader Axie community?• Should the Community Treasury funds be attached to any yield farming/staking services such as Yearn.finance or Rari.Capital?"

Not sure how much Axie pays to Sky Mavis, but a large proportion of the Treasury will be distributed to AXS holders, which will be akin to Animoca receiving a dividend.

Also, Seb Borget has done extremely well out of all this. He was appointed as an Advisor, so may own more Axie than Animoca! It's a case of you scratch my back and i'll scratch yours. Animoca are no different, gifting extremely generous allocations to Advisors. Yat might even end up making more coin from all of his Advisory roles than he will ever make from his Animoca holdings.