SkyArk Chronicles, an anime-style fantasy game, has become extremely popular recently. NFT Dedicated collectors have pledged mintage worth $115 million. Ethereum Get a chance to win one of our character assets. But now Binance Labs says its investment in the studio behind the game was misrepresented in Mint preparation.
Earlier this month, SkyArk Studio announced that Binance Labs, the cryptocurrency exchange’s venture capital arm, led a $15 million funding round ahead of a large-scale NFT minting. But in fact, Binance Labs shared earlier on Monday that investments in the studio have been made again in 2021.
In a lengthy tweet, the company claimed that SkyArk Studio violated its investment agreement by using the Binance Labs brand without prior permission and did not in fact lead the recent investment round. Instead, Binance Labs said it had invested in the studio as part of its 2021 incubation program, as originally announced at the time.
“If the project had informed us and stuck to the facts, we would have been completely fine,” Binance Labs tweeted.
In the attached screenshot, Binance Labs also showed part of the investment agreement wording and a Telegram screenshot where the company asked SkyArk Studio to remove misleading framing about its participation in a recent $15 million round.
Binance Labs said it had to provide a public explanation after people started asking questions, and the VC firm noticed that Skyark “only deleted the tweet without clarifying the facts.” In other words, while Skyark deleted the tweet, the misleading notice message still remained.
“We very much regret the miscommunication and appreciate the explanation from Binance Labs.” SkyArk Studio Tweeted on Monday. “We remain focused on making SkyArk a success and will continue to work hard to achieve our vision.”
Studio co-founder Kelvin Chua tweeted a response to Binance Labs recalling lessons learned from the studio’s incubation program. I apologize for the mistake.
“SkyArk pulled off a miraculous record-breaking NFT auction sale that was only possible with the support of our community and investors, including the first check from Binance Labs,” he wrote. “The last thing we want is to cause inconvenience to our followers and investors.”
The studio later posted a screenshot of the Discord post to clarify the disconnect. “SkyArk only did one round. web3 The team said it has raised $15 million worth of funding, which began in the third quarter of 2021, adding that “Binance remains the largest investor.” The Skyark team called this a “misunderstanding” with Binance Labs.
Binance Labs and SkyArk Studio did not respond to requests for comment. decryptionThis is GG.
SkyArk Chronicles tells the story of a fantasy hero named Satoshi Nakamoto. bitcoinis the actual creator of . But other than that, the game doesn’t seem to be steeped in Bitcoin lore or terminology.
“Once upon a time, Satoshi Nakamoto was born in a bleak world of nothingness,” the game’s website says. “Satoshi, the god of creation, created the SkyArkVerse, a safe world for all intelligent life. But where there is light, there is also darkness. Monsters rise from the depths and destroy the SkyLands. Terrified by the invasion, Satoshi must choose a hero to fight alongside him to restore peace to the SkyArkVerse.”
Skyark Studio Refund process has started Ethereum could be recovered if traders failed to successfully secure one of the 8,000 mining slots for the NFT mint late Monday afternoon. According to the tweet, users can request a refund within 60 days.
SkyArk Chronicles is partially built by Binance itself. BNB ChainHowever, the studio revealed that the latest batch of NFTs will be minted on Ethereum.
Edited by Ryan Ozawa.
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