{"id":68871,"date":"2024-01-13T05:24:26","date_gmt":"2024-01-13T09:24:26","guid":{"rendered":"https:\/\/coinscreed.com\/staging\/?p=68871"},"modified":"2024-01-13T05:26:08","modified_gmt":"2024-01-13T09:26:08","slug":"skyark-studio-raises-15m-funding-from-binance-labs-to-expand","status":"publish","type":"post","link":"https:\/\/coinscreed.com\/staging\/skyark-studio-raises-15m-funding-from-binance-labs-to-expand\/","title":{"rendered":"SkyArk Studio Raises $15M Funding from Binance Labs to Expand"},"content":{"rendered":"\n

In its most recent fundraising round, blockchain-based video game company SkyArk Studio<\/a> raised $15 million from more than 40 investors.<\/p>\n\n\n\n

\"SkyArk
SkyArk Studio Raises $15M Funding from Binance Labs to Expand<\/figcaption><\/figure>\n\n\n\n

In a Jan. 12 X announcement, SkyArk Studio stated that 40 institutions, including co-founder of Tangent Ventures\r\n \r\n \r\n \r\n <\/g>\r\n \r\n \r\n \r\n <\/clipPath>\r\n <\/defs><\/svg><\/span><\/a>, Darryl Wang and CEO of LayerZero Bryan Pellegrino, participated in the fundraising headed by Binance Labs.<\/p>\n\n\n\n

While the firm did not clarify who it wants to use the earnings from the round, this is the second time Binance backs the video game creator. The Singapore-based blockchain game studio was added to Binance Labs' incubation program<\/a> towards the end of 2021. But at the time, it's unclear if Binance provided SkyArk Studio with financial support or guidance.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/SkyarkS\/status\/1745734527404880067\n<\/div><\/figure>\n\n\n\n

According to co-founder Kelvin Chua, incorporating SkyArk Studio into Binance's incubation program will be crucial to the company's goal of “revolutionizing NFT gaming with its proprietary assets and engine.” <\/p>\n\n\n\n

Though the outcome of its intentions is still unknown, it is believed that the company will be able to proceed with its vision for the blockchain-based game SkyArk Chronicles, thanks to the most recent funding round.<\/p>\n\n\n\n

This is Binance's latest attempt to profit from the web3 game industry. The cryptocurrency exchange<\/a> gave $15 million in July 2023 to Xterio, a publisher and gaming platform that connects on-chain and free-to-play games. <\/p>\n\n\n\n

In 2022, $1.5 million was also provided by Binance's venture division to GAMEE, a mobile gaming platform that pays users for their abilities and efforts.<\/p>\n","protected":false},"excerpt":{"rendered":"

In its most recent fundraising round, blockchain-based video game company SkyArk Studio raised $15 million from more than 40 investors. In a Jan. 12 X announcement, SkyArk Studio stated that 40 institutions, including co-founder of Tangent Ventures , Darryl Wang and CEO of LayerZero Bryan Pellegrino, participated in the fundraising headed by Binance Labs. While […]<\/p>\n","protected":false},"author":43,"featured_media":68873,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[10412,2119,17850],"class_list":["post-68871","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-binance-labs-2","tag-funds","tag-skyark-studio"],"jetpack_featured_media_url":"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2024\/01\/croc_1705131405810.jpg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/68871","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/users\/43"}],"replies":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/comments?post=68871"}],"version-history":[{"count":0,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/68871\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media\/68873"}],"wp:attachment":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media?parent=68871"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/categories?post=68871"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/tags?post=68871"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}