https://ift.tt/h8amfkb of Mavia announces the closing of its $2.5m strategic funding round led by Crypto.com Capital

Heroes of Mavia, a play-to-earn massively multiple online (MMO) game is excited to announce that it has raised $2.5 million from its strategic funding.

According to the team, the funding round that Crypto.com led saw the participation of numerous investors, including Hashkey Capital, GuildFi, Merit Circle, Avocado Guild, YGG SEA, and many more. The funding round marked the final private sale of the MMO strategy game’s MAVIA tokens. This funding round follows a recently concluded funding round by Binance Labs, Genblock Capital, and other key investors that raised $5.5 million. Notably, this brings the total amount raised to $8 million.

Commenting on the funding round, Bobby Bao, the Managing Director of Crypto.com Capital, stated:

“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.”

Since its launch, the game has aimed at changing the NFT gaming landscape by introducing its intricate mechanics, unique monetization feature, and exciting gameplay. Heroes of Mavia is an Ethereum based game created on a fantasy-themed island called Mavia. The game is designed to deliver AA quality graphics while also bringing cutting-edge features to GameFi. Each player is a commander of a base tasked with growing their base and army in the game. Players use resources obtained from attacking other basses.

Players need first to own land to set up their base. Owning land can be done by one of the three ways by either renting land, owning land, or partnering with a landowner. Renting the land or partnering with a landowner accommodates players with little capital. One unique feature about the game is it allows players to live stream base attacks and defenses. All battles are permanently recorded, which allows all within the Mavia ecosystem to view the records. 

The Managing Director at Skrice Studios, Tristan Chaudhry, added:

“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 has a dual token model that helps run the operations. These include MAVIA and RUBY. MAVIA is used for governance and buying, selling, and renting NFTs on the Mavia marketplace. On the other hand, RUBY is the in-game play-to-earn token. Players earn RUBY for battling others within the metaverse. The token is also used for game purchases, decorations, and NFT upgrades.