TL;DR
- Binance Labs Fund denies its participation in the recent $15 million funding round of SkyArk Chronicles.
- SkyArk Chronicles, a AAA gaming platform founded in 2021, connects players in a multiverse inspired by the mythical god Satoshi Nakamoto and was selected in Season 3 of Binance Labs’ Incubation Program.
- After a deleted tweet from SkyArk Chronicles praising Binance Labs’ involvement in the funding, they issued an apology statement.
Binance Labs Fund, the investment entity associated with Binance, has refuted its involvement in SkyArk Chronicles’ recent $15 million funding round. Despite SkyArk Chronicles’ claims that the famous exchange led the round, the entity clarified that it was unaware of the $15 million investment and had only invested in the project through the Incubation Program in 2021.
Founded in 2021, SkyArk Chronicles stands out as a gaming platform connecting players in a multiverse inspired by the mythical god Satoshi Nakamoto. Its studio, SkyArk Studio, was selected in Season 3 of Binance Labs’ Incubation Program.
SkyArk Chronicles is a project incubated and invested in by Binance Labs in 2021 through Incubation Season 3; please note that Binance Labs did not participate in the project's latest financing round this year. Thank you all for your attention.
SkyArk Chronicles 是 Binance… pic.twitter.com/wqu2PBxKGE
— Binance Labs Fund (@BinanceLabs) January 29, 2024
The exchange‘ response, conveyed through a tweet and a detailed statement, emphasizes that the entity had no knowledge of the $15 million investment, and the claim of leading the round was unilateral on the part of SkyArk Chronicles. The company expressed that, if properly notified, there would have been no issue.
SkyArk Chronicles Deleted the Statement Linking Binance to the Funding Round and Issued Apologies to the Company
Binance Labs’ reaction followed a now-deleted tweet from SkyArk Chronicles. Praising Binance Labs’ participation in the funding round, along with 40 other institutions and notable figures in the industry. In a subsequent update. The SkyArk Chronicles team apologized for the “lack of communication” and appreciated the clarity provided by Binance Labs. They reaffirmed their commitment to continuing to work towards making SkyArk a successful project.
Despite being a minor episode without major upheavals. The incident underscores the importance of precise communication in financial transactions. And highlights the need for clear and consensus-driven notifications among parties involved in funding rounds. Fortunately, both parties reached an agreement after the apology. Now, SkyArk must look forward and move ahead after its successful funding round.
