Binance Labs, Delphi Digital and Alameda Research Invest $5.5 Million in Heroes of Mavia

GameFi expands as Massively Multiplayer Online (MMO) Strategy Game Receives Investment from Major Blockchain VCs

has announced the completion of its $5.5 million initial fundraising round for , a blockchain-based play-to-earn massively multiplayer online (MMO) strategic game. The funds will improve the game, recruit top talent, and expand the community.

Several well-known venture capital companies participated in the seed round, indicating a considerable interest in blockchain gaming. led the round, with participation from Genblock Capital, Delphi Digital, Mechanism Capital, Alameda Research, Animoca Brands, YGG, YGG SEA, ExNetwork Capital, Double Peak Ventures, Merit Circle, Hashkey Capital, and several angel investors.

Bill Chin, Head of Investment at Binance Labs, stated:

At a time when play-to-earn gaming is increasing in popularity internationally, we think Mavia and the team behind it are positioned to be one of the top AAA titles in the market.

Heroes of Mavia is a game with AAA-quality visuals and cutting-edge features accessible to GameFi. It enables live streaming of assaults and defenses from any base in the Mavia ecosystem. All conflicts are recorded in perpetuity and may be seen by anybody.

To begin, players must have at least one piece of land, which may be obtained in three ways: by purchasing property, renting land, or partnering with a landowner. A single base may be built on a single piece of ground in the game. The game makes it simpler for players to get started with little or no upfront cash by allowing them to rent from or collaborate with landowners.

The game has a dual token format with MAVIA tokens serving as the governance token, allowing holders to vote on crucial choices and shape the game’s destiny. On the Marketplace, the token is also used to purchase, trade, and rent NFTs.

RUBY is the Heroes of Mavia game’s in-game play-to-earn token. Battles against opposing armies and bases generate RUBY for the players. The token may be used for various in-game purchases, including NFT improvements, skins, and decorations.

The Rise of GameFi and Play-2-Earn

Traditional games can be reinvented in the metaverse with interactions that connect rather than separate players. The digital world and reality are gradually becoming indistinguishable from each other as the conventional gaming business has developed and individuals have started to spend more time online. However, traditional games have left substantial holes in their capacity to link them to their environment in a more coherent experience, even though many gamers were already acclimated to engaging in many virtual worlds.

This distinction soon drew attention to the metaverse notion. Players are urged to do more than engage in thrilling gameplay since the game is more than a game. Indeed, with the advent of the blockchain, the metaverse has expanded to encompass real-world economics, replete with considerable earning potential, such as the capacity to produce resellable user-generated content (UGC) — capacities previously unavailable in the game industry.

In 2021, Ethereum witnessed a rise in popularity among DeFi and GameFi apps, including native decentralized exchanges like Uniswap becoming mainstream and the popularity of games like Decentraland, The Sandbox, and others.

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