Place/Date: Hanoi, Vietnam - February 25th, 2022 at 10:29 am UTC · 4 min read
Contact: Nania Tran, Source: Heroes of Mavia
Heroes of Mavia, a blockchain-based play-to-earn massively multiplayer online (MMO) strategy game developed by Skrice Studios, announces the closing of its $2.5 million strategic funding round led by Crypto.com Capital. It also saw participation from Hashkey Capital, Merit Circle, GuildFi, YGG SEA, Avocado Guild and several other funds.
The strategic round marks the final private sale of the MMO strategy game’s MAVIA token. It comes hot on the heels of Mavia’s $5.5 million seed funding from Binance Labs, Genblock Capital, and other well-known investors last month, taking the total amount raised to $8 million.
Bobby Bao, Managing Director of Crypto.com Capital, said:
“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 on Ethereum, the game is set in a fantasy-theme island called “Mavia,” where the player is a commander of a base. Each player’s objective is to grow their base and army using resources obtained from attacking others’ bases. It promises to change the NFT gaming landscape with its intricate mechanics, exciting gameplay, and unique monetization features.
Tristan Chaudhry, Managing Director at Skrice Studios, said “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 delivers AAA quality graphics and brings cutting-edge features to GameFi. It allows every base in the Mavia ecosystem to be live streamed during attacks and defenses. All the battles are permanently recorded and can be viewed by anyone, forever.
To get started, players need to occupy at least one plot of land through one of three methods – owning land, renting land or partnering with a landowner. One plot of land can hold just a single base in the game. By enabling players to rent from or partner with a landowner, the game makes it easier for them to get started with little or no upfront capital.
Heroes of Mavia uses a dual token model, with MAVIA being the governance token that gives holders the ability to vote on important decisions and direct the future of the Mavia game. MAVIA token is also used for buying, selling and renting NFTs on the Mavia Marketplace.
RUBY is the in-game play-to-earn token within the Heroes of Mavia game. Players earn RUBY by battling the enemy armies and bases. The token is used for over a dozen in-game purchases, NFT upgrades as well as skins and decorations.
Founded in March 2021, Crypto.com Capital is the venture arm of Crypto.com, and invests in Seed and Series A crypto startups. With US$500 million earmarked for investment, Crypto.com Capital seeks to accelerate the growth of early-stage crypto startups, and operates on the principle of being ‘Founders First’. Crypto.com Capital seeks to form long-term strategic partnerships with founders, and to grow alongside them in their business.
Heroes of Mavia is a AAA MMO strategy game allowing players to buy land, build a base and battle other players for the in-game token RUBY. There exists three NFT types in the game – Land, Heroes and Statues, each of which can be bought and sold on the Mavia marketplace. RUBY is the main play-to-earn currency in the game, and can be earned by winning battles against other bases.