SkyArk Studio Secures $15 Million Investment from Binance Labs to Enhance SkyArk Chronicles Game
In Brief
SkyArk Studio has successfully closed a $15 million funding round, spearheaded by Binance Labs, aimed at propelling the development of their play-and-earn blockchain gaming venture, SkyArk Chronicles.
This AAA gaming studio, based in Singapore, has SkyArk Studio just declared the successful closure of a $15 million funding round, led by Binance Labs VividThree, GuildFi, Jambo, and BreederDAO, Cryptomeria Capital with contributions from notable industry figures such as Bryan Pellegrino, CEO of LayerZero, Wangarian, co-founder of Tangent Ventures, and SY Lee, CEO of Story Protocol, alongside others.
The capital raised will be directed toward developing the company's blockchain gaming initiative — SkyArk Chronicles .
SkyArk Chronicles has generated considerable excitement since last summer. Drawing inspiration from Japanese anime, it positions itself as a flagship game series in the expansive universe devised by Satoshi, the creator of Bitcoin .
This project incorporates a play-to-earn approach, empowering players to generate revenue through non-fungible tokens non-fungible tokens (NFTs) and cryptocurrencies. In contrast to traditional play-to-earn models, however, it emphasizes rewarding players during gameplay rather than solely focusing on monetization.
VividThree, a publicly traded company based in Singapore. Binance Labs has been backing SkyArk since 2022.
Likewise, venture capital firm Cryptomeria Capital Founded in 2020 by Chris Ng, a former financial analyst, the studio has gained substantial backing from major players, including Binance, which selected SkyArk Studio to represent Singapore among over 1000 contenders in its Incubator Season 3.
is an active investor and key supporter of SkyArk Chronicles. Vadim Krekotin \"SkyArk Chronicles possesses transformative potential by combining AAA gaming with blockchain technology. We are delighted to take part in this latest funding round. As committed advocates of this innovative sector, we are eager to see SkyArk Chronicles reshape the web3 gaming experience,\" stated
Congratulations to our portfolio company!
SkyArk Chronicles is Set to Transform the NFT Gaming Landscape
This enhances the acquired NFTs’ The play-and-earn system of SkyArk Chronicles presents players with distinct NFT collectibles, ensuring that every hero and character is unique and individually numbered.
This strategy not only enriches their value but fosters a varied collection. The decision to transform in-game heroes and figures into NFTs came when Ng and his team recognized how straightforward the process could be. This inventive method also serves as a lucrative income stream, especially for the artists involved.
— SkyArk Chronicles (@SkyarkS) December 2, 2023
We're cooking up exciting details for our next drop! $SAC rewards even more enticing! pic.twitter.com/Q0fmxvUhbH
Stay tuned for the enticing information that will leave you eager!
By utilizing existing game art and assets for NFT creation, SkyArk enhances efficiency in the process, demonstrating its strategic integration of gaming and blockchain technology for player enjoyment and economic benefits. blockchain gaming .
Disclaimer
In line with the Trust Project guidelines With this fresh infusion of investment, SkyArk Studio is poised to propel the development of SkyArk Chronicles, reshaping the vibrant gaming environment.
