SkyArk Studio recently announced a $15M funding boost led by Binance Labs. Established as a player in the blockchain game development arena, SkyArk first caught the attention of Binance Labs in 2021, securing a spot in their incubation program.
SkyArk’s early recognition set the stage for its recent success. Their latest project, SkyArkVerse, offers a captivating SocialFi gaming experience. In this virtual world, players engage in rebuilding a war-torn world, exploring new territories, socializing, and creating their own digital realms.
The recent funding round didn’t just see Binance stepping up; it also drew in a diverse group of over 40 investors. These include notable names like VividThree, GuildFi Global, Jambo Technology, BreederDAO, LayerZero CEO Bryan Pellegrino, and Tangent Ventures co-founder Darryl Wang.
Singapore’s Gaming Ecosystem and Binance’s Strategy
Singapore serves as a backdrop for SkyArk’s innovative gaming ecosystem, a strategy that has placed them among the top picks from over a thousand applicants in the third season of Binance Labs’ incubator program. Binance Labs’ recent investment strategy shows a keen interest in enhancing its gaming offerings. They aim to establish a network of side chains dedicated to fostering a thriving GameFi ecosystem.
Despite Binance’s status as a leading crypto exchange, its footprint in blockchain gaming is still evolving. They face stiff competition from other giants like Oasys, Immutable, Solana, and Polygon. This latest move to fund SkyArk Studio is a clear indication of Binance’s commitment to not just participate, but lead in the burgeoning blockchain gaming industry.