SkyArk Chronicles, an anime-fantasy fantasy game, is just as big NFT Mint has pledged $115 million from eager collectors. Ethereum To get a chance to claim one of the properties of the character. But now Binance Labs, the studio behind the game, has been misrepresented before the investment pours in.
Earlier this month, SkyArch Studio announced that Binance Labs—the venture capital arm of the crypto exchange—had led its $15 million funding round, ahead of NFT Mint. But in fact, Binance Labs shared earlier on Monday, that the investment in the studio was paid back in 2021.
In a lengthy tweet, the company accused SkyArk Studio of breaching its investment terms by using Binance Labs' branding without prior permission and not even leading a recent investment round. Instead, Binance Labs said it invested in the studio as originally announced in 2021.
“Had the project informed us and stuck to the facts, we would have been completely fine,” Binance Labs tweeted.
In the attached screenshots, Binance Labs partially redacted the wording of the investment contract, as well as Telegram screenshots asking the company to remove the misleading frame surrounding its recent $15 million involvement with SkyArc Studios.
Binance Labs had to issue an official explanation after people started asking questions, the VC firm noted, adding that SkyArk “just deleted the tweet without clarifying the facts.” In other words, while SkyArk removed the tweet, the misleading ad message remained.
“We are very sorry for the misunderstanding and appreciate the clarification from Binance Labs,” SkyArc Studio said. he tweeted Monday.. We are focused on making SkyArc a success and will continue to work hard to achieve our vision.
Studio founder Kelvin Chua tweeted his response to Binance Labs, recalling lessons learned from the studio's incubation program. Apologize for the mistake.
“SkyArk released a miraculous record NFT auction sale, which was only possible with the support of communities and investors, including the first check of Binance Labs,” he wrote. The last thing we want to see is cause any problems for our followers and investors.
The studio later released a screenshot of a Discord post attempting to explain the disconnect. “SkyArk only did one round. Web3 “Binance continues to be the largest investor,” the team wrote, with a fundraising of up to $15 million starting in Q3 2021. The SkyArk team called it a “disagreement” with Binance Labs.
Binance Labs and SkyArk Studio did not respond to requests for comment. DecryptGG.
Skyark Chronicles tells the story of a fictional hero named Satoshi Nakamoto, which is a pseudonym. BitcoinCreator of the real world. But otherwise, the game doesn't seem steeped in Bitcoin lore or jargon.
“Once upon a time, Satoshi Nakamoto was born into a dark world of nothingness,” the game's website says. “The Creator God, Satoshi created the SkyArkVerse, a safe world for all sentient life. But where there is light, there is darkness. Monsters have risen from the depths and destroyed Skyland – and Satoshi, shocked by the invasion, must choose heroes to fight with to restore peace to the SkyArkVerse.
SkyArk Studio Started the refund process As of Monday afternoon for NFT Mint, it will allow traders to recover their Ethereum if they haven't successfully verified one of the 8,000 secret locations. Users have 60 days to request a refund, according to the tweet.
SkyArk Chronicles is partially built by Binance itself. BNB chainAlthough the studio claims that the latest collection of NFTs is made on Ethereum.
Edited by Ryan Ozawa.
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