Massively multiplayer online game (MMO), Heroes of Mavia, raised $5.5 million in seed funding from institutional venture capital firms and angel investors. The funds will grow the blockchain-based game, attract top talent, and ultimately grow the user community.
Binance Labs led the funding round for the game created by Skrice Studios. Other venture capitalists included Genblock Capital, Mechanism Capital, Animorca Brands, YGG SEA, Delphi Digital, YGG, ExNetwork Capital, Merit Circle, Hashkey Capital and Double Peak Ventures. In addition, several angel investors participated.
The participation of top VCs and Angels attests to the great potential the game has in an increasingly competitive GameFi segment. According to Bill Chin, Head of Investments at Binance, Heroes of Mavia has all the basic elements of a game designed to succeed in the P2E realm.
Tristan Chaudhry, Managing Director of Skrice Studios was thrilled that Heroes of Mavia had attracted such big names in the VC world. He appreciated the gesture and stated the team’s intention to develop products that will redefine games to win.
We believe Mavia and the team behind it are positioned to be one of the best AAA titles in the space.
Bill Chin, Head of Investments at Binance Labs
How does the game work
Heroes of Mavia runs on the Ethereum blockchain and is a strategy game. It takes its name from the fantasy island in the game called “Mavia”, where players fight for survival. To play the game, each player must occupy at least one piece of land from which they can build their armies and attack the enemy. Plots are NFTs, obtainable by purchase, lease, or partnership with landowners.
By allowing players to rent or partner with landowners, the game has removed a major barrier for many players. Essentially, this means players can rent or “borrow” plots if they don’t have the required tokens to use as start-up capital. Once they occupy a plot, players can build their bases, earn their rewards, and pay for the plots. A plot can only contain one base. Mavia Island has resources that players use to build their bases and strengthen their armies.
To play the game, you need the RUBY token, which is the in-game token. With RUBY, players can purchase several in-game items, including NFTs. They can also use it to upgrade their skin and buy decorations. Finally, RUBY is the token used to reward players in the game. Heroes of Mavia is a double chip game. The second token in the game is known as MAVIA.
Unlike RUBY, MAVIA is a governance token. Therefore, MAVIA holders have a say in decision-making on the future development of the game. Additionally, MAVIA is the accepted currency in the Mavia market. Therefore, users need it to buy, rent and sell NFTs in the market.
On Heroes of Mavia
Heroes of Mavia is a blockchain-based MMO game developed by Skrice Studio. It follows the play-to-earn model, which allows players to earn rewards in the form of the RUBY token. In this strategy game, players must attack enemy bases to earn RUBY tokens. The token is an ERC-20 token, which means it runs on the Ethereum blockchain.