Heroes of Mavia, a blockchain-based play-to-earn massively multiplayer online (MMO) strategy game developed by Skrice Studios, has closed its $5.5 million seed funding round. The proceeds, says the project, will go to develop the game, attract top talent, and grow the community.
The funding round was led by Binance Labs. Other investors include Genblock Capital, Delphi Digital, Mechanism Capital, Alameda Research, Animoca Brands, YGG, YGG SEA, ExNetwork Capital, Double Peak Ventures, Merit Circle, Hashkey Capital, and a number of angels.
Bill Chin, Head of Investment at Binance Labs, said in the press release, “At a time when play-to-earn gaming is exploding in interest globally, we believe Mavia and the team behind it is positioned to be one of the top AAA-titles in the space.”
“We are thrilled to have such strong backing from some of the largest and most influential investors in the space. We are proud to say that all of our partners share our vision for making Heroes of Mavia a leader in Blockchain Gaming, and we plan on pushing the boundaries of what Play-to-Earn games are capable of,” said Tristan Chaudhry, Managing Director of Skrice Studios.
Built on Ethereum, the game is set in a fantasy-theme island called “Mavia,” where the player is a commander of a base. Each player’s objective is to grow their base and army using resources obtained from attacking others’ bases. Skrice Studios believes it will change the NFT gaming landscape with its intricate mechanics, exciting gameplay, and monetization features.
Every base in the Mavia ecosystem can be live streamed during attacks and defenses. Battles are permanently recorded and can be viewed by anyone, forever.
To get started, players need to occupy at least one plot of land by either owning land, renting land or partnering with a landowner. One plot of land can hold a single base. Players can rent from or partner with a landowner, which Skrice says makes it easier for them to get started with little or no upfront capital.
Heroes of Mavia uses a dual token model, one a governance token and one in-game. MAVIA , the governance token,gives holders the ability to vote on important decisions and direct the future of the Mavia game. It is also used for buying, selling and renting NFTs on the Mavia Marketplace.
The in-game play-to-earn token is called RUBY. Players earn RUBY by battling enemy armies and bases. The token is used for over a dozen in-game purchases, NFT upgrades, as well as skins and decorations.
Hustle reckons that, with the massive success of Web 2.0 games like Clash of Clans, Heroes of Mavia is a natural fit to be the CoC of the blockchain, a potential leader in the mobile gaming sector in Web 3.0.
He has discussed the project on a few videos, and believes this game is on the way to doing BIG things. Why? Upcoming land sales, an earning economy that keeps evolving to help incentivize the player base to keep playing, a healthy economy structure for the in-game token. Basically, they’re putting the players first with their strong economic structure,he says.
The information above is drawn from a press release supplied by Skrice Studios to Crypto Banter. We take no responsibility for its veracity, and publish it purely as a service to the Banter Fam. We have not received any payment for publishing it. As always, DYOR before investing in any new project.