Last Updated on January 29, 2024
Quick take:
- SkyArk Studio has announced a $15 million funding round led by Binance Labs.
- The blockchain game developer was part of the Binance Labs incubation program in 2021.
- Singapore-based VividThree, GuildFi Global, Jambo Technology and BreederDAO also joined the round.
SkyArk has completed a $15 million for its social gaming platform. The fundraising attracted participation from 40 investors including VividThree, GuildFi Global, Jambo Technology, BreederDAO, LayerZero CEO Bryan Pellegrino and Tangent Ventures co-founder Darryl Wang, among others.
SkyArk is building a SocialFi gaming experience SkyArkVerse, where SkyHeroes and SkyLegends work to rebuild their world from the destructions of war. The platform allows players to explore a new world, socialize with friends, and build their own lands.
SkyArk Studios was selected for Binance Labs’ web3 incubation program in 2021. Commenting on his company’s inclusion in the program in a previous statement, Kelvin Chua, co-founder of SkyArk Studio said it was an important step in his company’s mission to “revolutionise NFT gaming.”
SkyArk Studio was selected to represent Singapore from over 1000+ applicants in the third season of Binance Labs’ incubator program. The Studio is working on multiple game titles as it seeks to build a gaming ecosystem out of Singapore.
Although Binance is the world’s largest crypto exchange and network, its blockchain gaming ecosystem lags behind the likes of Oasys, Immutable, Solana and Polygon. The company has been making efforts to ramp up its gaming ecosystem over the past 12 months, which includes a $15 million commitment to the gaming platform and publisher of free-to-play games Xetrio in July 2023.
Correction:
This article was edited to reflect a statement by Binance Labs posted on January 29 to clarify that the crypto exchange company’s investment arm did not participate in the latest round. SkyArk had stated in a post on X that Binance Labs led the $15 million round.
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