Binance’s venture arm recently addressed misinformation regarding its involvement in SkyArk Chronicles’ latest funding round. In a statement released on Jan. 29, Binance clarified that it did not participate in SkyArk’s $15 million funding round in 2024, contrary to what was previously stated by the project.

SkyArk Chronicles, a project incubated and invested in by Binance Labs in 2021 through Incubation Season 3, did not receive funding from Binance’s venture arm this year. The venture arm solely invested in the project during its incubation program in 2021.

Following Binance Labs’ statement, SkyArk released a post acknowledging the clarification and confirming that Binance’s venture arm supported the project only in 2021. However, SkyArk has not provided further details or explanations for the inaccurate statements made earlier.

As previously reported, Binance Labs included SkyArk Chronicles in its incubation program in late 2021. The studio’s co-founder, Kelvin Chua, expressed optimism about the collaboration with Binance, emphasizing the studio’s vision to revolutionize NFT gaming with its proprietary assets and engine.

It remains to be seen how SkyArk Chronicles will progress following its involvement with Binance Labs. Stay tuned for more updates on Global Crypto News.

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