Coingape Staff
SkyArk Chronicles, a Triple-A gaming platform, completed a funding round of $15 million on Friday, January 12, 2024. Binance Labs, the world’s leading crypto exchange Binance’s investment wing, led this funding round. In addition, more than 40 institutions participated in the funding round.
SkyArk Raises $15 Million In Funding Round
The one-of-a-kind gaming ecosystem has been backed by Binance since 2021 and the recent disclosure comes to no surprise. On the official X account of SkyArk Chronicles, a recent post read, “We’re thrilled to announce the successful completion of a $15 million funding round! @BinanceLabs led this round with participation from over 40 institutions.”
However, the actual amount invested by Binance Labs isn’t known as the details of the funding round haven’t been disclosed yet. Whilst, the post revealed that Vividthree Productions, a Singapore-based company, also contributed significantly to its recent funding round. Other NFT and gaming networks, such as GuildFi Global funded the company.
In addition, Jambo Technology and BreederDAO emerged as key participants. Whilst, individual investors like LayerZero CEO Bryan Pellegrino, Tangent Ventures Co-Founder Wangarian, and Story Protocol CEO S.Y. Lee also made significant contributions to the SkyArk funding round.
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Binance’s Collaboration With SkyArk
In 2021, Binance selected SkyArk Studio from over 1,000 applicants for its prestigious Incubator Program Season 3. Among the 9 chosen teams, only 3 were yet to launch tokens, and SkyArk was one of them. The collaboration with Binance and SkyArk’s prior success in DeFi and GameFi projects supported the network in their ambitious goal to create a diverse gaming ecosystem in Singapore.
The firm comprises of seasoned professionals with a track record of generating substantial revenue from traditional mobile games. Thus, they now aim to revolutionize the gaming sector not just in Singapore but worldwide. They focused on launching Fully-On-Chain and Only-Assets-On-Chain games.
Notably, their NFT game engine promised interoperability, editability, and evolvability. This led to a seamless integration of NFTs with games and it also supports various different gameplay styles.
Also Read: Binance Futures Launches Deposit And Trade USDC Campaign With $170K In Rewards
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