Binance Labs distances from SkyArk Chronicles’ latest funding round

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Binance’s enterprise arm stated in a current X publish it didn’t take part in SkyArk’s newest $15 million funding spherical, regardless of the challenge stating the alternative.

In an X post on Jan. 29, the enterprise arm of Binance stated didn’t participate in SkyArk’s newest financing spherical in 2024, elevating considerations in regards to the circumstances surrounding the apparently false announcement. The assertion clarifies that Binance Labs had solely invested in SkyArk in 2021 by way of its Incubation Season 3 program.

Binance Labs’ assertion comes after SkyArk stated in a now-deleted X publish on Jan. 12 that the $15 million funding was led by Binance’s enterprise agency together with participation from 40 different establishments, together with LayerZero CEO Bryan Pellegrino and Tangent Ventures co-founder Darryl Wang.

Binance Labs distances from SkyArk Chronicles' latest funding round - 1
A cached copy of SkyArk’s deleted X publish | Supply: BSC Information

Following Binance Labs’ assertion, SkyArk published an X post, saying Binance’s enterprise arm backed the agency solely in 2021 as a part of the incubation program. As of press time, SkyArk has not supplied further particulars or explanations for the incorrect statements made on Jan. 12.

As crypto.information earlier reported, Binance Labs included the Singapore-based blockchain gaming studio in its incubation program in late 2021. On the time, Kelvin Chua, co-founder of SkyArk Studio, stated that the inclusion in Binance’s incubator program would play a pivotal function within the agency’s mission to “revolutionize NFT gaming with its proprietary property and engine.” Nonetheless, the present standing of the agency’s success following the deal stays unclear.

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