P2E Game Heroes of Mavia Bags $5.5M in Seed Funding Led by Binance Labs

Ethereum-based play-to-earn game, Heroes of Mavis, has recently completed its seed funding round where it raised $5.5 million from Web3 and metaverse investors, including Binance Labs.

Binance and Others Invest in Heroes of Mavia

According to a press release shared with CryptoPotato, the project intends to use the new capital injection to develop the game further, attract top talent, and expand its community of supporters.

The seed funding round was led by Binance Labs and saw contributions from several notable venture capital firms. These include Delphi Digital, Genblock Capital, Mechanism Capital, Alameda Research, Animoca Brands, YGG, YGG SEA, ExNetwork Capital, Double Peak Ventures, Merit Circle, Hashkey Capital, and many other angel investors.

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 is positioned to be one of the top AAA titles in the space.”

MMO Strategy Game

Developed by Skrice Studios, Heroes of Mavia is a massively multiplayer online (MMO) strategy game set in a fantasy-theme island called “Mavia.” There, the player is a commander of a base with the sole objective of growing their vase and army using resources obtained from attacking others’ bases.

The game provides players with AAA-quality graphics and brings cutting-edge features to GameFi, allowing every base in the Mavia ecosystem to be live-streamed during attacks and defenses. This approach ensures that the battles are permanently recorded and can be viewed by anyone, forever.

The game makes use of a dual token model, where MAVIA is its governance token, which allows holders to vote on certain decisions concerning the game and is used to purchase and rent NFTs on the Mavia marketplace.

The second token is Ruby, an in-game currency that can be earned by winning battles and used to make purchases.

Heroes of Mavia has the ambitious goal of changing the entire NFT gaming landscape with its intricate mechanics, exciting gameplay, and unique monetization features.

Commenting on the successful fundraiser, Tristan Chaudhry, managing director at Skrice Studios, said:

“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.”