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Binance Labs Leads $5.5 Million Seed Round for Heroes of Mavia

2022-01-21

Main Takeaway:

  • Binance Labs led a $5.5 million seed round for Heroes of Mavia.

  • Heroes of Mavia aims to transform the NFT gaming landscape with its intricate mechanics, exciting gameplay, and unique monetization features. 

  • Heroes of Mavia will use the proceeds to help develop their game, attract top talent and further grow the community.

Binance Labs, the venture capital and innovation incubation arm of Binance, is pleased to announce it led the $5.5 million seed round for Heroes of Mavia, a play-to-earn MMO strategy game. Heroes of Mavia will use the funds to develop their game, attract top talent and grow the community.

The game is set in a fantasy-themed island called “Mavia,” where each player must command a base and grow their army using resources obtained from attacking other players. Heroes of Mavia aims to transform the NFT gaming landscape with its intricate mechanics, exciting gameplay and unique monetization features. 

To get started, players need to occupy at least one plot of land through one of three methods: owning land, renting land or partnering with a landowner. One plot of land can hold a single base in the game. By enabling players to rent from or partner with landowners, the game makes it easier to start playing with little to no upfront capital. 

Heroes of Mavia uses a dual token model. MAVIA is a governance token that allows holders to vote on important decisions and direct the future of the Mavia game; RUBY is the in-game play-to-earn token used for over a dozen in-game purchases, NFT upgrades and cosmetic items.

Bill Chin, Head of Investment at Binance Labs, said, 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 a top AAA-title in the space.”

Nicole Zhang, Investment Director of Binance Labs Fund, said: “Play-to-earn gaming is always a sector that we are active in. Heroes of Mavia brings many innovations to the sector alongside a fast-growing community. We look forward to seeing more new ideas and improvements from the team.”

Tristan Chaudhry, Managing Director of Skrice Studios, stated, “Our team views Mavia as more than just a game, but as a mini-nation containing its own robust economy and ecosystem that must be balanced correctly. Equally as important to us as producing AAA-quality graphics and engaging gameplay is creating a sustainable tokenomic model that allows a broad range of players to participate and enjoy the game. We are excited to receive the backing of Binance Labs, and with their investment, we have the support we need to carry out our vision for Mavia.”

Other investors include Genblock Capital, Delphi Digital, Mechanism Capital, Alameda Research, Animoca Brands, YGG, YGG SEA, ExNetwork Capital, Double Peak Ventures, Merit Circle and Hashkey Capital.