Binance Labs denies leading $15 million funding round for SkyArk Chronicles

SkyArk Chronicles, a blockchain gaming platform with a Japanese anime concept, has been accused of misleading its users and investors after claiming to have secured $15 million in a funding round led by Binance Labs, the venture arm of the cryptocurrency exchange Binance.

The claim was made in a tweet posted by SkyArk Chronicles on January 27, 2024, which has since been deleted. The tweet said: “We are thrilled to announce that we have completed a $15 million funding round led by Binance Labs. This will help us to accelerate our development and bring more exciting games to our community. Thank you for your support!”

However, Binance Labs refuted the claim in a tweet of its own on the same day, saying that it did not participate in the latest round of financing and would only participate in incubation and investment in 2021. Binance Labs also clarified that SkyArk Chronicles was a project incubated and invested in by Binance Labs in 2021 through Incubation Season 3, a program that supports early-stage blockchain startups.

The false funding claim sparked outrage among some users and investors of SkyArk Chronicles, who felt deceived and betrayed by the project team. Some users expressed their anger and frustration in the Discord channel of SkyArk Chronicles, and even asked for a refund of their purchases.

One user said: “This is a scam. How can you lie about such a big thing? I want my money back. You have lost all credibility and trust.”

Another user said: “I am very disappointed and sad. I believed in this project and supported it since the beginning. But now I feel like I have been cheated and played with. What is the real situation of the project? How can we trust you again?”

SkyArk Chronicles is a series of games that revolve around the origin story of Satoshi Nakamoto, the creator of the SkyArkVerse, a safe world for all intelligent life. The games feature social features, NFTs, and a new world of SkyHeroes and SkyLegends who fight to protect the SkyArkVerse from monsters and invaders.

On January 26, 2024, SkyArk Chronicles launched a Genesis NFT sale, raising more than 50,000 ETH, equivalent to about $115 million at the time of writing. The Genesis NFTs are rare and limited edition collectibles that represent the first generation of SkyHeroes and SkyLegends. They also grant access to exclusive benefits and rewards within the SkyArkVerse.

SkyArk Chronicles has not issued any official statement or apology regarding the false funding claim as of the time of writing. It is unclear how this incident will affect the reputation and future of the project, as well as the value and demand of its NFTs and tokens.

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