Blockchain-based play-to-earn game, Heroes of Mavia, has raised $2.5 million in its latest funding round. Consequently, that brings the total raised over the past two months to $8 million as part of an expansion strategy to attract more users. Furthermore, the latest funding round marks the game’s final private sale of MAVIA tokens.
In January 2022, the game raised $5.5 million in seed fund in a round led by Genblock Capital. Crypto.com Capital led the latest funding round. Other VCs included Merit Circle, YGG SEA, Hashkey Capital, and Avocado Guild. The game’s attractiveness to some of the leading venture capitalists in the GameFi market underscores its potential. Particularly, it is a sign that the game will likely disrupt the P2E space as it prepares to launch in2022.
According to Bobby Bao, Managing Director of Crypto.com Capital, Heroes of Mavia has the potential to become a top AAA play-to-earn game. Also, he expressed his delight that Crypto.com had invested in a game with cutting-edge mechanics and high-quality graphics.
Tristan Chaudhry, Managing Director at Skrice Studios, was grateful that Heroes of Mavia attracts high-caliber financiers. “We are fortunate to have such strong partners backing our team in this latest fundraising round, ”he said.
Having Crypto.com as the lead investor further strengthens Mavia’s position in the NFT gaming space.”
Tristan Chaudhry, Managing Director at Skrice Studios
About Heroes of Mavia
Heroes of Mavia is a Massively Multi-Player Online Game (MMOG) operating on blockchain. It uses a play-to-earn model. The MAVIA token is the game’s currency for purchasing NFTs on the MAVIA NFT marketplace. The game’s NFTs consist of Heroes, Lands, and Statues. Also, MAVIA is the game’s governance token. Therefore, MAVIA holders have the right to vote on the game’s future development. Additionally, the game has a second token, RUBY, the reward token that players earn for their in-game conquests.
Skrice Studio developed the game based on a military strategy. The game is based on a fictional Mavia Island, where players compete by conquering enemy bases. The island has several pieces of land, which players use to set up their bases. Essentially, the lands are NFTs, which players can obtain by purchasing, renting or teaming up with the landowners. Players build their bases using resources found on the island.
About Crypto.com Capital
Crypto.com Capital is the investment arm of Crypto.com, one of the world’s leading cryptocurrency exchange platforms. It operates a budget of $500 million, earmarked for investing in early-stage crypto projects. Essentially, Crypto.com targets to help crypto startups right from their infancy. Therefore, this enables them to actively participate in their growth strategy beyond giving financial support.