Heroes of Mavia Raises $2.5 Million from Crypto.com Capital to Expand Play-2-Earn Gaming Ecosystem

Massively multiplayer online (MMO) strategy game raises $25. million

Skrice Studios’ Heroes of Mavia, a blockchain-based play-to-earn massively multiplayer online (MMO) strategy game, has closed a $2.5 million strategic investment round headed by Crypto.com Capital. Hashkey Capital, Merit Circle, GuildFi, YGG SEA, Avocado Guild, and several other institutions also participated in the investment round.

The strategic round is the last private sale of the MAVIA token from the MMO strategy game. It follows Mavia’s $5.5 million seed fundraising last month from Binance Labs, Genblock Capital, and other well-known investors, bringing 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.

The game built on Ethereum is situated on “Mavia,” a fantasy-themed island where the user is a garrison commander. Each player’s goal is to expand their base and army by stealing resources from other players’ bases. Its complicated physics, exciting gameplay and novel monetization options promise to revolutionize the NFT gaming scene.

Heroes of Mavia is a game with AAA-quality visuals and cutting-edge features available on GameFi. It enables live streaming of attacks and defences from every 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 one of 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 easier 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 serving as the governance token, allowing holders to vote on crucial choices and shape the game’s destiny. On the Mavia Marketplace, the MAVIA token is also used to purchase, trade, and rent NFTs.

What is GameFi? The Future of Gaming and Engagement

Blockchain-based economics and gaming are combined in GameFi, which is known as “play-to-earn.” In-game activities such as quests, trading, and other means of acquiring virtual items are all made possible by GameFi. Players have been able to build up and exchange digital assets in mainstream games for decades, but they might lose their assets at any time if the publisher shuts down the game or goes out of business. GameFi games, on the other hand, save their assets via a distributed architecture. The risk connected with digital assets is considerably reduced by these systems, which function independently of any given organization.

A GameFi project’s basics might differ from one another. Participating in a game generates NFTs sold on NFT markets or swapped for major cryptocurrencies like Bitcoin and Ethereum. At its peak, CryptoKitties had over 14,914 daily users, indicating the rapid spread of the NFT economy via viral means. Unfortunately, the Ethereum network became clogged due to the popularity of these NFTs, which led to a considerable rise in transaction costs and lengthier confirmation times.

There is a growing interest in decentralized finance and asset tokenization. Participation is possible via various devices, including smartphones, tablets, and desktop PCs. NFT-based in-game items have helped GameFi’s popularity rise. It’s hardly unexpected that the top blockchain games have roughly $14 billion market value.

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Image credits: Kelly Sikkema and Tezos.

Disclaimer: The purpose of this article is to remove informational asymmetry existing today in our digital markets by performing due diligence, asking the right questions, and equipping readers with better opinions to make informed decisions. The writer holds Bitcoin, Ethereum, Cardano, Solana and Cosmos. The writer has a vested interest in the story.