Crypto.com Capital Grants $2.5M Funding to Heroes of Mavia

Crypto.com’s venture arm Crypto.com Capital signed a $2.5 million strategic deal with Heroes of Mavia, a blockchain-native play-to-earn massively multiplayer online (MMO) strategy game developed by Skrice Studios. Various investors including Hashkey Capital, Merit Circle, GuildFi, YGG SEA, and Avocado Guild also joined the said financial deal.

The strategic round serves as the final private sale of MAVIA’s token. This development comes after Mavia secured $5.5 million in seed funding from Binance Labs, Genblock Capital, and other premier investors last month, wherein a total of $8 million was brought in.

Managing Director of Crypto.com Capital Bobby Bao commented:

Crypto.com Capital is pleased to support Heroes of Mavia in its strategic round, as it scales and prepares to launch in 2022. With its innovative mechanics spanning gameplay and base-building elements, as well as top quality graphics – we believe that Heroes of Mavia is well-positioned to become a top AAA play-to-earn title.

Built around Ethereum, the immersive game is set in a fantasy-themed island named Mavia, where the player takes the role of a base commander. The objective of each player is to grow their respective base and army, using resources obtained by attacking the bases of other players. Through its elaborate mechanics, exciting gameplay, and distinctive monetization features, Heroes of Mavia may just be the game-changer in the NFT gaming landscape.

Closing in to reach their goals, Tristan Chaudhry, Managing Director at Skrice Studios, stated

We are fortunate to have such strong partners backing our team in this latest fundraising round, and having Crypto.com as the lead investor further strengthens Mavia’s position in the NFT gaming space.

Heroes of Mavia introduces AAA-quality graphics and cutting-edge features to GameFi,  allowing every base in the Mavia ecosystem to be live-streamed during attack and defense excursions. The skirmishes are all permanently recorded and are accessible anytime.

As a start, the “base commanders” are given three options to take over at least one plot – owning land, renting land, or partnering with a landowner. One plot of land can only accommodate one base in the game. By allowing players to rent from or partner with a landowner, the game makes it easier for players to get settled with few to no upfront capital.

Heroes of Mavia utilizes a dual token model, with MAVIA as the governance token that gives holders the power to vote on important decisions that would control the future of the Mavia game. The game also permits players to buy, sell, and rent NFTs using MAVIA tokens at the Mavia Marketplace.

RUBY is the in-game play-to-earn token within the Heroes of Mavia game. Gamers can acquire RUBY by battling opposing armies and raiding bases. This token can be used to purchase NFT upgrades and in-game cosmetics, including skins and decorations, among other in-game purchases.

Established in March 2021, Crypto.com Capital is the venture arm of Crypto.com and invests in Seed and Series A crypto startups. Driven by its principle of being a “Founders First” company and with $500 million reserved for financing, Crypto.com Capital aims to accelerate the growth of early-stage crypto startups. Furthermore, Crypto.com Capital is always looking forward to forming long-term strategic partnerships with founders, growing alongside them as they go with their business.

Heroes of Mavia is a AAA MMO strategy game that enables players to purchase land, build bases, and compete with multiple players for the in-game token RUBY. There are three existing NFT types in the game, namely Land, Heroes, and Statues. These NFT types can be bought and sold on the Mavia Marketplace. RUBY is the primary play-to-earn currency in the game and can be obtained by winning battles against other bases.