SkyArk Studio Secures $15 Million in Funding for Blockchain Games
SkyArk Studio, a developer of blockchain-based video games, has raised $15 million in its latest funding round. The funding was led by Binance Labs and involved 40 institutions, including LayerZero CEO Bryan Pellegrino and Tangent Ventures co-founder Darryl Wang.
This is not the first time Binance has supported SkyArk Studio. In 2021, the Singapore-based gaming studio was included in Binance’s incubation program. The details of Binance’s support, whether financial or through mentorship, are unclear.
Continuing the Mission to Revolutionize NFT Gaming
The inclusion in Binance’s incubator program was seen as a significant step for SkyArk Studio’s goal of revolutionizing NFT gaming. With the new funding, the studio will be able to further develop its blockchain-based game called SkyArk Chronicles.
Binance’s Focus on the Gaming Sector
Binance has been actively investing in the gaming sector within the web3 space. In 2023, the crypto exchange committed $15 million to Xterio, a gaming platform and publisher. In 2022, Binance’s venture arm also backed GAMEE, a mobile gaming platform that rewards players for their skills.
Hot Take: SkyArk Studio Receives Major Funding Boost for Blockchain Games
SkyArk Studio has secured $15 million in funding from various investors in its latest funding round. Led by Binance Labs, this funding will support the development of SkyArk Studio’s blockchain-based game, SkyArk Chronicles. It is not the first time Binance has supported the studio, as it was previously included in Binance’s incubation program. This investment highlights Binance’s focus on the gaming sector in the web3 space, as it has previously invested in other gaming platforms. With this funding, SkyArk Studio aims to revolutionize NFT gaming and further advance its mission in the blockchain gaming industry.
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