Heroes of Mavia Concludes $5.5 Million Seed Round

Blockchain-based play-to-earn massively multiplayer online (MMO) strategy game Heroes of Mavia has closed its $5.5 million seed funding round. Several top investors such as Binance Labs, Genblock Capital, Delphi Digital, Mechanism Capital, Alameda Research, Animoca Brands, YGG, YGG SEA, and many others participated in the seed fundraising. 

Managing Director of Skrice Studios, the company that developed the game, in a statement said the company is happy to partner with crypto giants such as Binance Labs and other participants in the seed funding.

“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,” Tristan Chaudhry said.

Also commenting, Head of Investment at Binance Labs, Bill Chin said: “At a time when play-to-earn gaming is exploding in interest globally, we believe Mavia and the team behind it are positioned to be one of the top AAA-titles in the space.”

The funds raised will be used to further develop the game, attract top talents, and grow the game community. The game is based on the Ethereum blockchain and is set in a fantasy-themed island called “Mavia”. Players are regarded as base commanders on this island and are expected to grow their bases with resources and the army they get as spoils from attacking other bases. 

With its intricate mechanics, exciting gameplay, and unique monetization features, Heroes of Mavia promises to change the NFT gaming landscape. The game has high-quality graphics that make it engaging for players in addition to cutting-edge features it is bringing to GameFi. Every base on Mavia Island can be live-streamed during attacks and defenses and all battles are recorded live and permanently kept for anyone to see in the future.

To start the game, players have to occupy at least one plot of land by owning land, renting land, or partnering with a landowner. There is only one base per plot of land and by enabling players to rent from or partner with a landowner, players can start with little or no initial capital.

The game uses two tokens, MAVIA which is the governance token, and RUBY which is the in-game play-to-earn token within the Heroes of Mavia game. MAVIA gives holders the right to vote on important changes to the game as well as participate in decisions about its future. It is also used for buying, selling, and renting NFTs on the Mavia Marketplace. Players earn RUBY by battling enemy armies and bases and are used for over a dozen in-game purchases, NFT upgrades as well as skins and decorations.